MIT plans $1B computing college, AI research effort

MIT's move signals two trends in higher education: growing investment in sophisticated technology research and increased fundraising from the private sector. Last year, the university announced plans to partner with IBM on a 10-year, $240 million AI research effort. The resulting MIT-IBM Watson AI Lab is co-located with an IBM research facility in Boston and brings together faculty members and students as well as IBM and university researchers to enhance AI's impact across industries. More recently, IBM partnered with Columbia University to develop research competency in blockchain technology through the Columbia-IBM Center for Blockchain and Data Transparency. Public institutions are nabbing corporate funding, too.