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$240M AI deal agreed


IBM and MIT are to work together over the next decade to spearhead advances in artificial intelligence (AI).

The pair will collaborate at a new $240 million MIT–IBM Watson AI Lab to unlock its potential and enable more industries, like health care and cybersecurity, to benefit from it. The lab will also examine the wider societal effect AI is having.

“I am delighted by this new collaboration. 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,” said MIT President Rafael Reif.”

The facilities in Cambridge, Massachusetts, will be home to over 100 AI scientists in what is a landmark partnership between industry and academia.

This is the latest development in the field. Earlier this week it was announced a new Australian institute has been established to investigate the varied implications AI will have on life as we know it.

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