IBM is funding new Watson AI lab at MIT with $240 Million

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IBM said on Thursday it will spend $240 million over the next decade to fund a new artificial intelligence research lab at the Massachusetts Institute of Technology. The resulting MIT–IBM Watson AI Lab will focus on a handful of key AI areas including the development of new "deep learning" algorithms. Deep learning is a subset of AI that aims to bring human-like learning capabilities to computers so they can operate more autonomously. The Cambridge, Mass.-based lab will be led by Dario Gil, vice president of AI for IBM Research and Anantha Chandrakasan, dean of MIT's engineering school. It will draw upon about 100 researchers from IBM (ibm) itself and the university.