With a commitment of $1 billion, The Massachusetts Institute of Technology plans to provide a platform for exploring AI
The fact that the artificial intelligence technology is gaining greater significance year-over-year, major educational institutes and universities are focused on adapting to the artificial intelligence technology.
In line with this scenario, MIT announced their new $1 billion commitment for addressing the opportunities and adversities of the prevalence of computing and the elevation of artificial intelligence. With this investment, the institute aims at providing effective knowledge and training in artificial intelligence to their students to ensure that they could be well-versed with the technology.
This initiative is presently the only largest investment by an American academic institution, in computing and artificial intelligence. This investment would help the United States to be a leading nation in the world for preparing for the quick-paced evolution of artificial intelligence and computing.
The institute aims to bring this to action with their new MIT Stephen A. Schwarzman College of Computing, which is possible owing to a massive fund of $350 million offered as a foundational gift from Mr. Schwarzman, who is a chairman, co-founder, and CEO of a leading global asset management company, Blackstone. The new MIT Schwarzman College of Computing would be headquartered in the new building on the campus of MIT and would be an interdisciplinary center for working in data science, artificial intelligence, computer science, and other related areas.
The president of MIT, L. Rafael Reif stated that they are reshaping MIT to keep up with the scope of computing that reshapes our world. The MIT Schwarzman College of Computing would constitute both an intellectual foundry for new powerful artificial intelligence tools and a global center for computing research and education, he said.
He further continued saying that the college would enable researchers and students in any discipline to use artificial intelligence and computing to advance their disciplines and vice-versa and to critically think about the human impact of their work. Mr. Schwarzman is enabling a bold agenda with uncommon insight and generosity, which would lead to a better world, he said further adding that he is grateful for Mr. Schwarzman’s commitment to their shared vision.
Apart from the $350 million gifts by Mr. Schwarzman, MIT has successfully raised an additional fund of $300 million totaling $650 million of the $1 billion that is required for setting up the college. The institution further pursues fundraising with the help of its senior administration.