IBM is making a big investment in its future in New York.
The Westchester-based company announced that it will be teaming with SUNY Polytechnic Institute to create a new “hardware lab” in Albany as part of a $2 billion pledge by the company to spread its footprint in New York.
The AI Hardware Center at SUNY Poly will be established for artificial intelligence-focused computer chip research, development, prototyping, testing and simulation. Once established, officials said “the AI Hardware Center will be the nucleus of a new ecosystem of research and commercial partners, and further solidify the Capital Region's position as ‘Tech Valley’ - a global hub for innovative research and development.”
"New York has always been at the forefront of emerging industries, and this private sector investment to create a hub for artificial intelligence research will attract world-class minds and drive economic growth in the region," New York Gov. Andrew Cuomo said. "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.”
The $2 billion investment includes at least $30 million in cash and in-kind contributions for artificial intelligence research across the SUNY system, with SUNY matching up to $25 million for a total of $55 million. Empire State Development will provide a $300 million capital grant over five years, to the Research Foundation for SUNY to purchase, own and install tools necessary to support the AI Hardware Center.
IBM will also be expanding its partnership with SUNY Poly for the Center of Semiconductor Research through at least 2023. The $2 billion investment over five years is IBM’s largest commitment to the state in nearly a decade.
According to IBM, Artificial intelligence has the potential to solve some of science and industry’s most vexing challenges. But for that to happen, it needs a new generation of computer systems.
“AI will transform the world in dramatic ways in the coming years,” IBM AI Hardware Vice President Mukesh Khare said. “IBM is pushing the boundaries of AI faster - for the benefit of industry and society. By expanding our partnership with New York State, we are creating a global hub of AI hardware research with an ecosystem to innovate, incubate, and lead in the development of disruptive technologies.”
Empire State Development Commissioner Howard Zemsky said that the AI Hardware Center will “solidify New York State’s position at the forefront of artificial intelligence.
“Establishing the AI Hardware Center will solidify New York State's position at the forefront of artificial intelligence, one of the world's fastest-growing and most socially transformative technologies which is driving unprecedented opportunities within the high-tech sector.
“By investing in the infrastructure necessary to support innovation, this partnership between New York State and IBM will add to SUNY Poly's remarkable record of industry-leading research, and continue to attract thousands of jobs and billions of dollars in economic activity across New York State."
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