The labs at these research institutes would apparently be utilized to work on projects spanning a multitude of disciplines - the Internet of Things, data intelligence, quantum computing, financial technologies, human-machine interaction, inclusive of natural language processing and machine learning. With special talent recruited for the objective across several labs spread around the world, including at home in China and in countries like the United States, Singapore, Russia and Israel.
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.
Academy DAMO actually stands for the "Academy for Discovery, Adventure, Momentum and Outlook", and will oversee the opening of research and development labs worldwide and seek to recruit talented scientists and researchers to join the program. On top of this, it is also now recruiting 100 more researchers from across the world.
"The Alibaba DAMO Academy will be at the forefront of developing next-generation technology that will spur the growth of Alibaba and our partners", said Mr Zhang.
The labs will also collaborate with experts in the tech industry and educational institutions to explore solutions to improve the lives of end-users and boost the efficiency and security of companies, Alibaba said.
Alibaba now has around 25,000 engineers and scientists on its staff.
The academy will also have an advisory board comprised of educators and researchers to provide guidance and advice on the key research areas of the labs. "Over the past 18 years, we have developed a robust technology infrastructure that supports the rapid growth of our business", Zhang says.
Alibaba outlined the program will help it to meet its long-term commitment to create 100 million jobs and serve 2 billion customers in 20 years.
A new global research and development program has been announced by Alibaba, with a huge investment being made from the company over the next three years. With our global expansion, we have grown and refined our technology manifold.