Alibaba announces multibillion dollar research project with Israeli R&D center

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Times of Israel reports recently that Chinese e-commerce giant Alibaba is launching a global research project with ambitious goals – and an Israeli research hub.The Alibaba Group announced on Wednesday the creation of a global “Academy” dedicated to innovation and technological collaboration. The program – which Alibaba says will see $15 billion in R&D investment over the next three years – includes the creation of seven research laboratories worldwide, including one in Tel Aviv. The Academy will be called DAMO, standing for Discovery, Adventure, Momentum and Outlook. Alibaba is touting the project as a major step toward closing the world’s technology gap.

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