IBM to invest $240 million to advance artificial intelligence as part of MIT-IBM Watson AI Lab

IBM has announced plans to make a 10-year, $240 million investment to create the MIT-IBM Watson AI Lab, where researchers will carry out fundamental artificial intelligence (AI) research in an effort to advance AI hardware, software, and algorithms related to deep learning and other areas, as well as increase the impact that AI has on various industries.

Located at IBM’s Research Lab in Cambridge, MA, USA, the lab will be one of the largest long-term university-industry AI collaborations to date and will see more than 100 AI scientists, professors, and students will work collaboratively on advancing artificial intelligence. Additionally, the lab will be co-chaired by Dario Gil, IBM Research VP of AI and IBM Q, and Anantha P. Chandrakasan, dean of MIT’s School of Engineering. Researchers from both side will issue a call for proposals to MIT researchers and IBM scientists to submit their ideas for joint research to push the boundaries in AI science and technology in several areas, which include AI algorithms, physics of AI, application of AI to industries, and advancing shared prosperity through AI.

>>> Editor’s note: Read more details on these areas here.

In addition to IBM’s plan to produce innovations that advance AI, another objective of the lab is new encourage MIT faculty and students to launch companies that will focus on commercializing AI inventions and technologies that are developed at the lab. Scientists at the lab will also publish their work, contribute to open source material, and "foster an adherence to the ethical application of AI."

"The field of artificial intelligence has experienced incredible growth and progress over the past decade. Yet today’s AI systems, as remarkable as they are, will require new innovations to tackle increasingly difficult real-world problems to improve our work and lives," said Dr. John Kelly III, IBM senior vice president, Cognitive Solutions and Research. "The extremely broad and deep technical capabilities and talent at MIT and IBM are unmatched, and will lead the field of AI for at least the next decade."

MIT President L. Rafael Reif also commented: "I am delighted by this new collaboration," he said. "True breakthroughs are often the result of fresh thinking inspired by new kinds of research teams. The combined MIT and IBM talent dedicated to this new effort will bring formidable power to a field with staggering potential to advance knowledge and help solve important challenges."

View more information on the new MIT-IBM Watson AI Lab.

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