Alibaba invests US$15 billion in R&D

12/18/2017 2:02:16 PM

Alibaba Group will invest more than US$15 billion in research and development over the next three years. The enterprise reports that it will strengthen its technology research input, by setting up seven research labs: two in China, two in the United States, plus one each in Russia, Israel, and Singapore.

Shanghai Daily reports that Alibaba is expected to step up the technological collaborations of its DAMO Academy (Academy for Discovery, Adventure, Momentum and Outlook) to advance the development of cutting-edge technology and to make society more inclusive and more sustainable. Alibaba’s Jack Ma also expressed his wish to create 100 million job opportunities for the world.

The breakthrough technologies that Alibaba’s R&D is aiming for, will enable greater efficiency, network security and ecosystem synergy for consumers and businesses everywhere. The search is for new disruptive technologies that can advance the daily lives of people, benefit small businesses and narrow the technology gap.

Further reading on Shanghai Daily

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