IBM announced it plans to invest $ 240 million over the next decade to create an artificial intelligence research laboratory at MIT.
The Massachusetts Institute of Technology (MIT) also announced on Thursday the formation of the new MIT-IBM Watson AI Lab. Joint research will be supported by IBM and MIT scientists.
Its mission will include the development of hardware, software and algorithms used for artificial intelligence. It will also address some of the economic and ethical effects of smart machines and consider their commercial application to industries ranging from health care to information security.
MIT President Rafael Reeve asserts that the new artificial intelligence laboratory is based on a long research relationship between IBM and the MIT Institute.
Last month, IBM opened its first "Automated Learning Center (ML)" in Bangalore that would provide a physical space for organizations to practice hands-on learning.
Through ML Centers, professionals, business analysts and engineers can work with IBM data science experts to understand and learn technology to visualize, analyze and interpret data.