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At the HP Labs conference, Lab director Prith Banerjee presents keynote new "blueprint" for HP's coporate research arm. HP Labs is now going to focus on "big bets" all linked to 5 main areas: Information explosion, dynamic cloud services, content transformation, intelligent infrastructure and sustainability. What's interesting is the deep consequences this new plan will have on HP Labs structure: going from hundreds of projects to 20-30 big bets. The Labs' more than 600 researchers will now be "regrouped" into 23 separate labs around the world, of 20 to 30 researchers each: smaller teams which should make them more dynamic and responsive to change. In terms of investment, HP Labs will now spend 1/3 of its $150 million annual in exploratory research (versus 10% before), 1/3 in applied research and the last third in advanced product development.