IBM has committed $240 million investment in new MIT-IBM Watson AI (artificial intelligence) Lab which is to be established in partnership with MIT to advance AI software, hardware, and more importantly algorithms. The new lab is located in the IBM Watson Health and Cybersecurity headquarters in Kendall Square, in Cambridge, and on the neighboring MIT campus.
IBM and MIT have signed a 10-year long partnership agreement to pursue joint research in the field of artificial intelligence. The new 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. “The collaboration aims to advance AI hardware, software, and algorithms related to deep learning and other areas; increase AI’s impact on industries, such as health care and cyber security; and explore the economic and ethical implications of AI on society,” said MIT.
More than 100 AI scientists, professors, and MIT students will work together to conduct advanced research in AI. The goal is to develop advanced AI algorithms to expand capabilities in machine learning and to create AI systems that can not only leverage big data but also learn from limited data to augment human intelligence.
Another goal is to investigate quantum devices to improve quantum computing in order to optimize and speed-up machine learning algorithms and other AI applications. The lab will also develop new AI applications based on health care and cyber security. “The collaboration will explore the use of AI in areas such as the security and privacy of medical data, personalization of health care, image analysis, and the optimum treatment paths for specific patients.”
MIT-IBM Watson AI Lab will also explore social and economic implications of AI in society and investigate how it could benefit people, nations, and enterprises with improved prosperity. As part of the deal, both the parties will launch startups that are developed at the lab focusing on commercializing AI inventions and technologies. Researchers will also publish their work and contribute to the release of open source material.
“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,” stated John Kelly III, IBM senior vice president, Cognitive Solutions and Research. “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 L. Rafael Reif.