China, 27th June: Last week, Alibaba Group formally established the Luohan Academy, a global research program aiming to address the emerging economic consequences and social disruption generated by the digital economy.
According to Alibaba, “Luohan” is a Buddhist term meaning “perfected beings” or “those who have achieved nirvana.” The launch of the Luohan Academy followed the establishment of the DAMO Academy in October 2017. DAMO focuses on developing cutting-edge technologies to fulfil Alibaba’s commitment to serve its customers, while Louhan aims to study the implications of those same technology advances.
The academy has already attracted 15 of the world’s leading thinkers and researchers focused on digital changes in society. The former head of strategy at Alibaba’s fintech arm, Ant Financial, Dr. Chen Long will head Luohan. The academy’s committee will begin to discuss the potential negative impact that digital technology has on various segments of the global economy.
Source: Alizila article