Alibaba’s $15 Billion Research Investment to Include Fintech Focus

Alibaba’s $15 Billion Research Investment to Include Fintech Focus

Chinese e-commerce titan Alibaba announced today that it plans to invest more than $15 billion over the next three years in a global research and development program. Fintech will be among the target areas of R&D. Alibaba’s own internal research teams, and those of its affiliates, Ant Financial and Cainiao, as well as a about 100 additional researchers it will hire worldwide, will also be involved in the project, called the DAMO Academy, or the Academy for Discovery, Adventure, Momentum, and Outlook. Currently, Alibaba employs about 25,000 engineers and scientists. Alibaba Chief Technology Officer Jeff Zhang said the DAMO […]

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