Home General IBM to Invest $2bn in AI Hub in New York

IBM to Invest $2bn in AI Hub in New York

Gov. Andrew Cuomo recently revealed plans by IBM to invest $2 billion in its new artificial intelligence (AI) research hub that will be located at the Albany, New York-based SUNY Polytechnic Institute.

The new artificial intelligence research hub or AI Hardware Center is expected to concentrate on computer chip research, creation, prototyping, carrying out tests and simulation.

Governor Andrew Cuomo claimed that the new center would help in attracting new entities in the federal research and artificial intelligence field as well as create numerous jobs.

“Artificial intelligence has the potential to transform how we live and how businesses operate, and this partnership with IBM will help ensure New York continues to be on the cutting edge developing innovative technologies,” Cuomo said in a statement.

IBM also intends to extend and expand its collaboration with SUNY’s Center for Semiconductor Research by a minimum of two years and possibly through 2028.

To spearhead this plan, IBM is set to make a $30 million in-kind and cash donation specifically for artificial intelligence research across the entire SUNY system.

On the other hand, Empire State Development is expected to contribute a $30 million capital grant, primarily for SUNY to buy, own and install the necessary tools for supporting the AI Hardware Center.

The AI Hardware Center marks one of the new technology hubs that have been developed around academic and private sector partnership in new technologies.

IBM has been focusing on fast-growing emerging technologies such as analytics, cloud-computing platforms and artificial intelligence in a bid to boost growth as well as shift away from legacy enterprises like mainframe computers.

Back in 2017, Cornell University launched the initial phase of its $2 billion, 12-acre New York-based Cornell Tech campus.

This project is already viewed as a successful technology center and is among the main reasons why Amazon decided to position half of the company’s second headquarters in New York.

Meanwhile, Virginia Tech was eager to start emulating Cornell in developing a research center in Northern Virginia when the International Business Machines Corp. revealed its plans to place the rest of its headquarters there.

The university’s plans not only took shape but also managed to gain political momentum, especially with the state’s intentions to woo Amazon.

In fact, the outcome is a 1 million-square-foot, technology-based Innovation Campus intended for Alexandria, Virginia.

Back in September, the Georgia Institute of Technology revealed plans to grow its offerings in Atlanta with a 400,000-sq. ft complex for both executive and graduate education in business and industrial engineering.

What’s more, the University of Rhode Island claimed in December that it intends to include three new “innovation” campuses developed for supporting the commercialization of academic research and bolster the local industry.

This effort is backed by $12 million in public expenditure and is anticipated to draw $122 million from private investors.

In a press release, Cuomo’s office revealed that its partnership with International Business Machines Corp. is anticipated to develop “several hundred new jobs” as well as retain the available jobs at IBM facilities and SUNY Polytechnic.

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KC Cheung
KC Cheung
KC Cheung has over 18 years experience in the technology industry including media, payments, and software and has a keen interest in artificial intelligence, machine learning, deep learning, neural networks and its applications in business. Over the years he has worked with some of the leading technology companies, building and growing dynamic teams in a fast moving international environment.
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