Alibaba is investing $15 billion in R&D over 3 years

Jack Ma founder of the Alibaba Group attends the 2017 forum on rural headmasters

If done right the hope is that the research project could help 100 billion companies create opportunities and help solve problems for billions of people around the world.

Alibaba's 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". In addition, the Chinese ecommerce and technology titan will open labs in San Mateo, California; Seattle, Washington; Moscow, Russia; Tel Aviv, Israel; and Singapore.

It's called the Academy for Discovery, Adventure, Momentum and Outlook (referred to as the DAMO Academy for short), and Alibaba plans to recruit 100 researchers to staff labs around the globe.

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The company says it expects to invest a total of $15bn in research and development over the next three years.

It will fund research into a broad range of areas, including data intelligence, the Internet of Things, fintech, quantum computing, human-machine interaction, machine learning and natural language processing.

Alibaba Group briefly unseated as the world's most valuable online retailer in U.S. trading on Tuesday.

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Experts have previously said that China was moving more into the research and development of hardcore, cutting-edge technologies.

The Chinese giant and its affiliates have undergone a rapid expansion in the past year, bringing it into direct competition with USA e-retailer Inc, as well as global payments, cloud and logitics firms.

"We are now looking for talented and driven researchers to join us in the quest for new disruptive technologies that would advance our every-day lives, benefit small businesses and narrow the technology gap to make our world a more inclusive place", Zhang added.

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At the moment, Alibaba has 25,000 engineers and scientists, spending an average of 20 billion yuan (USD 3 billion) a year on research, the company said in a statement. Alibaba's officials have declared that the advisory board members of the research program will comprise educators and researchers from some of the top universities. It envisions that its customers will meet, work and live at Alibaba, and that it will be a company that lasts at least 102 years.

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