Alibaba Group to Invest $15 Billion in its DAMO Academy

Alibaba Group to Invest $15 Billion in its DAMO Academy

More than $15 billion will be invested by Alibaba Group into global research and development program called Alibaba DAMO Academy. Alibaba Group will recruit 100 researchers for this program to achieve their goal of serving two billion customers and creating 100 million jobs by 2036. The initiative will “increase technological collaboration worldwide,” claims the group.

DAMO Academy

DAMO stands for Discovery, Adventure, Momentum, and Outlook.

Jeff Zhang – Alibaba Group’s chief technology officer will lead it and it will start by opening labs in seven different cities around the world – two cities in China, Hangzhou and Beijing, two in the US, Mateo and Bellevue, Moscow in Russia, Tel Aviv in Israel, and Singapore.

Read More: Alibaba is Looking to Buy Major Stakes in Telenor Bank

The programme will also collaborate closely with universities and their programs such as U.C Berkeley’s RISE Lab’s project – the project which will enable computers to use real-time information to make secure decisions.

DAMO Academy has an advisory board – Professors from well-known Universities such as Princeton, Harvard, MIT, the University of Washington, Columbia University, Beijing Institute of Technology, Perking University and Zhejiang University are a part of this board.

The Academy’s Focus

Research conducted in this program will focus on many areas, such as data intelligence, the Internet of Things, financial technology, quantum computing and human-machine interaction. The researchers will also work at improved machine-learning capabilities and natural language processing using AI.

Alibaba is also joining hands with major and well-known firms throughout China and the rest of the world to find talent for their operations without having to go through the lengthy process of hiring candidates – this will also prevent the tech talent from getting attracted to other tech giants such as Amazon, Facebook and Google.

Via TechCrunch

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