IBM and MIT partnered $240 million to set up AI lab

IBM invested US$240 million to create an artificial intelligence (AI) laboratory with its partner Massachusetts Institute of Technology (MIT) Lab. This laboratory aims to research and explore the implications of advanced technology for industries such as health care, cybersecurity, and society.

Tinuku IBM and MIT partnered $240 million to set up AI lab

IBM said the investment at MIT-IBM Watson AI Lab will involve more than 100 scientists, professors and students in joint research at IBM research laboratories at Cambridge and at the MIT campus. Lab scientists will also publish their work on the open source platform.

"The field of artificial intelligence has experienced remarkable growth and progress over the last decade, but the current AI system requires new innovations to tackle the increasingly difficult real-world problems," said John Kelly III, IBM's senior vice president.

The laboratory will be chaired by Dario Gil from IBM Research and Anantha Chandrakasan from MIT's School of Engineering. MIT hopes the new lab could encourage MIT faculty and students to launch a company that will focus on AI's creation and invention.

IBM and MIT will seek proposals from researchers and scientists about their ideas, including developing AI algorithms that utilize large data. In 2016, IBM, MIT and Harvard University launched a five-year, US$50 million study on computational learning and cancer medicine.