IBM will spend US$240mil over 10 years to develop an artificial intelligence (AI) research lab with the Massachusetts Institute of Technology, pooling the organisations’ resources as competition intensifies to produce breakthroughs in the field.
The MIT-IBM Watson AI Lab will fund projects in four broad areas, including creating better hardware to handle complex computations and figuring out applications of AI in specific industries, the Armonk, New York-based company said last Thursday in a statement.
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