Chinese e-commerce company Alibaba Group has unveiled a $15bn global research programme that aims to enhance technological collaboration through research and development (R&D).
The Alibaba DAMO Academy aims to accelerate the development of new technology with the investment over the next three years.
Under the programme, the retailer will open R&D labs across the world and hire scientists and researchers.
Seven initial labs are to be established in China, the US, Russia, Israel and Singapore, with a workforce of 100 researchers.
Alibaba Group chief technology officer Jeff ZHANG said: “The Alibaba DAMO Academy will be at the forefront of developing next-generation technology that will spur the growth of Alibaba and our partners. We aim to discover breakthrough technologies that will enable greater efficiency, network security and ecosystem synergy for end-users and businesses everywhere.
“We are now looking for talented and driven researchers to join us in the quest for new disruptive technologies that would advance our everyday lives, benefit small businesses and narrow the technology gap to make our world a more inclusive place.”
The proposed labs will lay emphasis on foundational and disruptive technology research covering areas such as data intelligence, internet of things (IoT), fintech, quantum computing and human-machine interaction.
According to the company, the labs will also work in partnership with other technology firms and educational institutions to develop innovations.