$15 billion: Alibaba to cash in big for new technologies

Jack Ma founder of the Alibaba Group attends the 2017 forum on rural headmasters

It will fund research into a broad range of areas, including data intelligence, the Internet of Things, fintech, quantum computing, human-machine interaction, machine learning and natural language processing.

Chinese multinational Alibaba has announced it will invest $15bn in a global research program over the next three years in a bid to increase technological collaboration and advance development of cutting-edge technology. This is the beginning of its global research program, now known as Alibaba DAMO Academy - "DAMO" an acronym for Discovery, Adventure, Momentum and Outlook. Moreover, it will employ 100 researchers to recruit staff into those labs. The additional R&D investment is designed to help the business deliver on its goal of serving 2 billion customers and create 100 million job opportunities in 20 years.

Research labs will be created in the Chinese cities of Beijing and Hangzhou, and San Mateo and Bellevue in the U.S. Other cities that will house Alibaba's new facilities include Moscow, Russia, Tel Aviv, Israel, and Singapore, Malaysia.

The Chinese giant and its affiliates have undergone a rapid expansion in the past year, bringing it into direct competition with United States e-retailer Amazon.com Inc., as well as global payments, cloud and logistics firms.

More news: Indigenous People's Day 2017: All the Memes You Need to See

Those efforts are already underway: Alibaba said it the Academy already has plans to work with the University of California, Berkeley through its RISE Lab on areas such as secured real-time computing.

Zhang said: "Over the past 18 years, we have developed a robust technology infrastructure that supports the rapid growth of our business. We aim to discover breakthrough technologies that will enable greater efficiency, network security and ecosystem synergy for end-users and businesses everywhere".

Alibaba, as a company, has also been aiming to convince talented and ambitious researchers to join their program, which would enhance the technical expertise of the program.

Related News:

  • Opposition asks Narendra Modi to explain Shah model of business

    Opposition asks Narendra Modi to explain Shah model of business

    The Congress and other political parties demanded an official probe into the issue. He said the bank, and not a union minister, should defend the loan.
    'Furious' Asamoah Gyan demands protest over Black Stars goal snub

    'Furious' Asamoah Gyan demands protest over Black Stars goal snub

    The goalless stalemate at the Mandela National Stadium in Kampala has visibly kicked Ghana out of the running for Russian Federation 2018.
    ITV plc (ITV) Earns

    ITV plc (ITV) Earns "Add" Rating from Numis Securities Ltd

    The average 12 month target price among brokers that have issued a report on the stock in the previous year is GBX 117 ($1.55). When applying indicators for technical analysis, traders and investors might want to examine the ATR or Average True Range.
  • Khloe Kardashian Breaks Silence On 'Baby Bump' Rumours On Instagram

    Khloe Kardashian Breaks Silence On 'Baby Bump' Rumours On Instagram

    Naturally, Khloe stayed mum on confirming any pregnancy news, but she did tease the crowd by revealing she's embracing her curves. She has also tweeted 'My cousin is slaying fashion week!' with a photo of Kendall in Alexander Wang's Fall/Winter 2017 show.

    Nate could drop more than 1 inch of rain in Lancaster County

    The clouds and showers, combined with northwest winds behind the low, will keep temperatures in check for the end of the week. The rain is in association with what's leftover from Hurricane Nate that hit the Gulf Coast Saturday night.
    Danish police find body parts of missing journalist Kim Wall

    Danish police find body parts of missing journalist Kim Wall

    Members of the Danish Emergency Management Agency (DEMA) search for the missing bodyparts of journalist Kim Wall . Wall boarded the submarine to interview Madsen, an amateur mechanic who built the small vessel in his backyard.
  • Clinton addresses Weinstein sexual harassment allegations

    Clinton addresses Weinstein sexual harassment allegations

    Actresses Gwyneth Paltrow and Angelina Jolie told the Times in a report Tuesday that Weinstein had sexually harassed them. Already, a large number of prominent Democrats have, donating the equivalent in contributions from Weinstein to charity.

    New York Giants annouce WR Odell Beckham Jr. has fractured ankle

    The Chargers did, and Henry's spike following his 25-yard touchdown reception helps sum up how bad the team needed this win. But with four minutes left in the game and the Giants leading 22-20, he rose for a catch but landed awkwardly.
    Why It's So Hard to Keep the Lights On in Puerto Rico

    Why It's So Hard to Keep the Lights On in Puerto Rico

    Alphabet Inc, the company that controls Google, is sending balloons to Puerto Rico to help restore the island's phone service. The SUNY Board of Trustees unanimously approved in-state tuition for students from Puerto Rico and U.S.
  • Frankie Muniz opens up about health problems, memory loss

    Frankie Muniz opens up about health problems, memory loss

    In a recent episode he revealed that he suffers from memory loss and doesn't remember his time on the show . Fans know Frankie Muniz best from the beloved sitcom " Malcolm in the Middle ".
    Ghana's gas station explodes in capital city Accra

    Ghana's gas station explodes in capital city Accra

    The Accra city authorities warned people to avoid the area, which is also home to the University of Ghana campus. The explosion was reportedly caused by an open fire used to grill meat near the gas station.
    Trump NFL row: Mike Pence walks out of game after players kneel

    Trump NFL row: Mike Pence walks out of game after players kneel

    He said in a tweet on Sunday that he asked Pence to leave the stadium "if any player kneeled, disrespecting our country". After an initial wave of protest following Trump's comments, many players have stopped kneeling during the anthem.


Most liked

Australian woman wrangles shark with bare hands out of pool, video shows
It's not uncommon for small sharks to wash into ocean swimming pools, unfortunately for the rest of us mere mortals. A Sydney woman has become a social media sensation after she saved a shark that had become stuck in a rockpool.

Broccoli? New food emojis coming for iPhones, iPads
The concept of purposely outdating the older devices is nothing new and has been around long before the smartphones were made. The new emoji are indeed nice, but it's the presence of 3D Touch multitasking gestures that steals the show for power users.

Donald Trump Bashes ESPN's Jemele Hill
The statement went on to read, "We have addressed this with Jemele and she recognizes her actions were inappropriate". Following Hill's Twitter comments about the president, the White House called for her to be fired .

Google platforms 'used by Russian Federation to influence United States election'
Google is the latest tech company that's found evidence of Russian-bought ads on its platforms. Google has not said whether it will accept a similar invitation to do so.

DHL signs up to autonomous delivery driving trial
The chip can run over 320 trillion operations each second, roughly comparable to the AI performance of a 100-server data centre. Pegasus is slated for a mid-2018 release as well, so it'll be a while before we begin seeing it pop up in level 5 prototypes.

Low pressure to trigger heavy rains in Odisha in next 24 hours
Heavy to very heavy rain ranged from 7 cm to 20 cm, while extremely heavy rain measured above 20 cm, the MeT department explained. Landing of 47 in-bound flights and departure of about 35 flights was rescheduled and many flights were delayed, an official said.

Ivana Trump Calls Marla Maples a "Showgirl" and a "Nobody"
Trump's marriage to Maples lasted from 1993 to 1999. "I can only shake my head at how insane it was", Ivana writes. She said: 'This young blonde woman approached me out of the blue and said "I'm Marla and I love your husband".

Saudi FM Al-Jubeir: Saudi Arabia 'has fired thousands' of extremist imams
It is also the recognition that Russian Federation is an important mediator in Saudi Arabia's relations, for example with Iran. It can carry three types of warheads created to destroy targets including aircraft, as well as ballistic and cruise missiles.

The Las Vegas Shooter May Have Originally Planned To Attack Lollapalooza
Both rooms had a checkout date of August 6, when the festival - attended by Malia Obama and played by British band Muse - ended. In addition to Chicago and Boston, Paddock may have considered another location in Las Vegas for his massacre.

As Pruitt Abandons Climate Progress at EPA, RGGI Moves Ahead
The EPA will leave the door open in its repeal to replacing the rule with a much weaker version, but will not commit to doing so. Though limited to its participating states, the latest RGGI agreement will go further than the Clean Power Plan in this region.

Nursing home where 12 died after Irma shuts down
A 13th patient who lived at a Broward County nursing home that lost its air conditioning during Hurricane Irma has died. Eight residents would be dead by the end of the day, and four more would die in the weeks that followed.

PSU up to No. 3; Wassu, Auburn crack top 10
In week six of the college football season, there is an extremely important Big Ten game between Michigan and Michigan State . Taking care of the football was very hard for MI against the Spartans, who recovered two fumbles and forced five turnovers.

Spain outclass Albania 3-0 to seal 2018 FIFA World Cup berth
Lopetegui is confident that Spain fans will stand by the team at the Jose Rico Perez stadium. We have to turn the page with the Pique situation and it's time to focus on the game".

DC United's Chris Durkin scores for U.S. at Under-17 World Cup
Americans came back in their trademark style by attempting to make it three in the counter attack . India coach Luis Norton de Matos thinks more games will raise team's game in the future.

Chargers - Giants: Week 5 score, highlights
Prior to Darkwa's score, the Giants got a safety when Chargers center Spencer Pulley snapped the ball before Rivers was ready. After Sunday afternoon, he still hasn't as the Giants dropped to 0-5 this season in a 27-22 loss.