The Alibaba Group announced that it will set up a new research instituteand invest over 100 billion yuan (about 15 billion U.S. dollars) over the next three years in advanced technology development.
The DAMO Academy aims to attract world-class talent in such areas as quantum computing, machine learning, basic algorithms and network security.
DAMO stands for "discovery, adventure, momentum and outlook."
It has built partnerships with more than 200 research institutes and universities and started establishing branches in Asia, America and Europe.
Michael I. Jordan, a leading scientist in artificial intelligence and professor at University of California, Berkeley as well as Jeannette M. Wing, director of the Data Sciences Institute at Columbia University, are among the members of the DAMO academic advisory committee.
Alibaba Chairman Jack Ma said he hopes Alibaba Group, which has 25,000 engineers and scientists, can make achievements in future-oriented cutting-edge technology through DAMO.
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