Economy

Alibaba launches US$15b global R&D programme, to open lab in Singapore

Alibaba launches US$15b global R&D programme, to open lab in Singapore”

They will focus on "foundational and disruptive technology research" in areas such as data intelligence, natural-language processing, quantum computing, and machine learning.

China's technology conglomerate, Alibaba Group Holding, will increase more than twice its research and development spending (up to United States dollars 15 billion) over the next three years to develop the next generation of technology, boost its growing business and explore ambitious projects, which could change the industries.

The program is to be called Alibaba DAMO Academy, which stands for discovery, adventure, momentum, and outlook. In addition, the Chinese ecommerce and technology titan will open labs in San Mateo, California; Seattle, Washington; Moscow, Russia; Tel Aviv, Israel; and Singapore.

"The Academy is the first major global initiative to focus on developing the global technological capabilities and infrastructure that will enable Alibaba to fulfill its commitment to serve two billion customers and create 100 million job opportunities in 20 years", according to the company.

In the previous three years, its spending on research and development was about $6 billion-a fraction of what major US tech companies spend.

The investment comes as Beijing prioritizes quantum computing, AI and big data, urging public and private firms to play a bigger role in developing advanced technologies in areas where China lags, Reuters noted. "With our global expansion, we have grown and refined our technology manifold", Zhang said in a statement.

The new academy, which will be headed by Alibaba Group's chief technology officer Jeff Zhang, is looking to "increase technological collaboration worldwide, advance the development of cutting-edge technology and strive to make the world more inclusive by narrowing the technology gap", Alibaba said in a statement.

The academy has also named a 10-member advisory board, which include professors from top universities in China and the United States.

Alibaba now has around 25,000 engineers and scientists on its staff across its multiple businesses of ecommerce, cloud infrastructure, payment and financial services, logistics, marketing services, and digital media.



Like this

Latest


11 October 2017
Noble Energy Inc. (NYSE:NBL) Broker Price Targets For The Coming Week
The active investment managers in our partner's database now hold: 437.54 million shares, up from 409.88 million shares in 2017Q1. Michigan-based Ls Inv Advisors Ltd Liability Co has invested 0.01% in TTM Technologies, Inc. (NASDAQ:TTMI) for 163,454 shares.

11 October 2017
Airain ltd Takes Position in Frontier Communications Corp (FTR)
Louisiana State Employees Retirement System has 0.02% invested in Frontier Communications Corp (NASDAQ: FTR ) for 306,000 shares. On average, equities analysts expect that Frontier Communications Corp will post ($0.25) EPS for the current fiscal year.

11 October 2017
Court docs: IN couple repeatedly kept child IN cage
Officers obtained a search warrant and found a 4-by-8 feet wooden cage inside the home, with a mattress inside it and a bedpan. Police arrived at the couple's home near Huntingburg, Ind., on October 4 after hearing reports of an unruly 14-year-old girl.

11 October 2017
Wales manager Chris Coleman: We got frustrated after Ireland goal
Wales have won just one of their last 10 games against the Republic Of Ireland and none of their last seven. Although Long is out, James McClean and Robbie Brady return from suspension. "We'll see.

11 October 2017
Red Hat, Inc. (NYSE:RHT) Achieve New Highs
UGI Corporation is a holding company. (PKI) has a market cap of $7.76 billion and over the last 12 months, PerkinElmer, Inc. It dropped, as 25 investors sold RHT shares while 161 reduced holdings. 77 funds opened positions while 156 raised stakes.

11 October 2017
Uber's India Rival Raises $1.1 Billion From Tencent, SoftBank
Tencent, for example, has invested in similar start-ups to Ola such as Indonesian ride-hailing app Go-Jek. Bhavish Aggarwal, chief executive officer and a founder of Ola said in a press statement.

11 October 2017
L'Elysée évoque un dialogue "constructif" entre Macron et Apple — Marché
Tim Cook a aussi remercié l'entreprise: " Bravo, c'est génial ce que vous avez fait pour nous! ". Mais c'est bien à sa demande que le big boss de la firme à la pomme a été reçu à l'Elysée.

11 October 2017
This Is Us Season 2, Episode 3 Recap: "Deja Vu"
She worries because it's his bad knee. "Kate, it's really hard for me with Dad", Kevin admits as their conversation nears its end. After boasting - and proving - that she knows Rocky by heart, Kate confides in Stallone what he meant to her father.

11 October 2017
Long Term Growth review of Maxim Integrated Products, Inc. (NASDAQ:MXIM)
The firm owned 29,600 shares of the semiconductor company's stock after purchasing an additional 4,000 shares during the quarter. The semiconductor company reported $0.56 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.52 by $0.04.

11 October 2017
Why Wellington Management Group Llp Reported Knight-Swift Transportation Holdings Inc Position?
Zacks Investment Research raised Swift Transportation from a "sell" rating to a "hold" rating in a report on Tuesday, July 18th. In related news, CFO Virginia Henkels sold 29,051 shares of the firm's stock in a transaction dated Tuesday, August 15th.



Recommended