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IBM and MIT have signed a 10-year partnership agreement for the research lab in Cambridge Institute. A partnership agreement worth $240 million will benefit the MIT-IBM Watson AI Lab. The AI research lab is a joint project to help IBM researchers, MIT students, and faculty to work on advanced AI research. Dario Gil, VP of AI at IBM Research and Anantha P Chandrakasan, dean of MIT School of Engineering will co-chair the MIT-IBM Watson Lab. The whole idea of a joint lab is to bring MIT scientists and IBM researchers to conduct research together.
The IP of research conducted at the lab will mostly end up in IBM products and services. However, both the companies are committed to open source a good amount of the source code. MIT is also hoping to build AI-based startups from the research lab. The official announcement declares that the lab is focused on shaping the future of AI and push the frontiers of science.
MIT-IBM Watson Lab will soon send a request to IBM scientists and MIT students to submit ideas for joint research. The research lab will also be focusing a lot on understanding the social and economic impact of AI in the society. The joint research is expected to take AI much beyond specific applications and innovate in the neural-based deep learning networks and help in finding generalized ways to solve complex enterprise problems.
MIT has made it very clear that the lab will also be part of a broader campus-wide AI initiatives. The lab will certainly yield a good amount of research and commercial breakthroughs that industry has ever seen.