STATES CHRONICLE – Alibaba Group is the Chinese equivalent to online retailer Amazon. It seems that the company also shares the ambition of its rival. The behemoth has just announced the future opening of new research and development center located overseas. What’s baffling about this news is that the program is going to receive a $15 billion budget.
The Research and Development Center Is Called Alibaba DAMO Academy and Is Already in Contact with Prestigious International Institutions
On Wednesday, Alibaba Group announced a colossal investment into a new program called Alibaba DAMO Academy. The team that will empower this initiative has already reached a number of 100 members.
However, their task might be overwhelming. They have to find ways to expand Alibaba’s list of customers to two billion and generate 100 million jobs. The deadline is the year of 2036.
Alibaba Group chief technology officer Jeff Zhang will be in charge of the DAMO Academy. In the beginning, there will be seven labs in the cities of Beijing, Hangzhou, Bellevue, San Mateo, Moscow, Singapore, and Tel Aviv.
On top of that, Alibaba’s new research and development center will enjoy international collaboration. The unit will have the support of university programs such as U.C. Berkeley’s RISE Lab. This department is currently working on software that offer computers the capacity to take decisions in real-time for security purposes.
DAMO Academy’s list of fellows also includes professors from Harvard, Princeton, MIT, Columbia University, the University of Washington, Peking University, Beijing Institute of Technology, and Zhejiang University. The range of interests will include machine learning tech, visual computing, digital security, and natural language processing.
Numerous Chinese Companies Contributed to the Growing Interest in Overseas Research
Alibaba is but one in a growing number of Chinese firms that gained high interest in tech research. Such financially draining efforts will yield significant benefits to companies in the end.
First of all, they can become the owners of pioneering technologies. Secondly, they can tap into the international talent pools.
By skipping the imperative of moving to China, talented professionals can choose to conduct valuable research in the comfort of their own nation. On top of that, Chinese companies will have access to the same market of candidates as Apple, Amazon, Google, and Facebook have.
Image source: 1