Alibaba Will Invest $15 Billion Over 3 Years On Emerging Technology Development

Jeff Zhang, CTO of Alibaba

Alibaba plans to invest $15 billion over the next three years into emerging technologies including quantum computing and AI through the creation of the DAMO Academy. The DAMO (Discovery, Adventure, Momentum, and Outlook) Academy will research solutions to problems through the use of technology across seven research labs in the United States, Russia, Israel, China, and Singapore.

Alibaba is investing heavily into the future application of multiple groundbreaking technologies. Alibaba currently has 25,000 engineers currently working on applying AI advances to cloud computing services and consumer products. 

Jeff Zhang, CTO of Alibaba, explained during an interview with MIT Technology Review that he believes Alibaba's online context provides them with an advantage of understanding how to use data to transform business. Goals for the DAMO Academy include the development of a set of solid theories about deep learning and the standardization of the current voice based AI solution that comes with its Tmall Genie smart speaker. 

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