The Chinese giant firm Alibaba has announced that it will invest $15 billion over the next three years into cutting edge technology including artificial intelligence (AI) and quantum computing.
|Alibaba has called its new initiative "DAMO Academy" standing for Discovery, Adventure, Momentum, and Outlook. Research labs will be created not only in the Chinese cities of Beijing and Hangzhou but in San Mateo and Bellevue in the United States. Other cities in which there will be new facilities include Moscow in Russia, Tel Aviv in Israel, and Singapore, Malaysia. All the facilities will be overseen by an advisory board of the best researchers and professors from leading global universities including the MIT in the US. The new units will explore developing technologies relating to data intelligence, Internet of Things (IoT), quantum computing, and human-machine interacting. Jeff Zang, Alibaba's chief technology officer said: "We aim to discover breakthrough technologies that will enable greater efficiency, network security and ecosystem synergy for end-users and businesses everywhere."|