(Yicai Global) June 27 -- Alibaba Group Holding has helped form the Luohan Academy, an open research platform, to address universal challenges brought by the rapid development of technologies, such as big data, machine learning, artificial intelligence, and robotics.
"We feel the obligation that we should use our technology, our resources, and our people to help societies embrace the technological transformation and its implications," said Alibaba's founder and Executive Chairman Jack Ma at the launching ceremony in Hangzhou yesterday. The entrepreneur did not disclose the size of financing.
The research institute has a powerful lineup of six Nobel Prize laureates, including Lars Peter Hansen, Bengt Holmstrom, and Alvin Roth, and nine leading economists.
Last October, Alibaba invested USD15 billion to launch DAMO Academy, a global research program with a focus on developing cutting-edge technologies.
Editor: Emmi Laine