MIT unveils new $1 bn college for artificial intelligence

The Massachusetts Institute of Technology has announced plans to create a new college for the development of artificial intelligence. The university said it would add 50 new faculty members and create an interdisciplinary hub for work in computer science, AI, data science, and related fields. The Massachusetts Institute of Technology has announced plans to create a new college for the development of artificial intelligence. A large part of the new funds will come from a gift from Stephen Schwarzman, chairman and co-founder of financial giant Blackstone, after whom the new college will be named. 'As computing reshapes our world, MIT intends to help make sure it does so for the good of all,' said MIT President Rafael Reif.