IBM Invests in $240M AI Research Lab at MIT

TYSONS CORNER, VA, Sept. 8, 2017 — IBM (NYSE: IBM) has entered into a partnership with the Massachusetts Institute of Technology to establish a $240 million laboratory that will facilitate joint research and development efforts in artificial intelligence, ExecutiveBiz reported Thursday.

The company said Thursday it will work with MIT to operate the MIT-IBM Watson AI Lab as it serves to advance AI applications in industry, drive the creation of new hardware and algorithms as well as explore the technology’s economic and societal impact.

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