Chinese e-commerce giant Alibaba has announced plans to invest over 100 billion yuan ($15.2 billion) in artificial intelligence (AI) research and development over the next three years.
The investment will focus on developing AI technologies such as natural language processing, computer vision, and machine learning. Alibaba aims to apply these technologies to various industries, including e-commerce, finance, healthcare, and education.
The company's AI investment plan is part of its broader strategy to drive technological innovation and digital transformation in China and beyond. Alibaba's AI research and development efforts will be led by its research arm, DAMO Academy, which was established in 2017.
The massive investment in AI is expected to further strengthen Alibaba's position as a leader in the field of AI research and development, and to drive innovation and growth in various industries.
