Artificial Intelligence

IBM Puts $2B In NY AI Research Center


IBM is planning to invest over $2 billion to help establish an “AI Hardware Center” at the SUNY Polytechnic Institute campus in Albany, as well as boost its high-tech footprint throughout New York State.

The Center will be set up for artificial intelligence-focused computer chip research, development, prototyping, testing and simulation, and help solidify the region as a global hub for 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,” Governor Cuomo said in a press release. “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 of developing innovative technologies.”

IBM’s investment will be extend beyond SUNY Poly, where the company is a long-time anchor, to include other IBM facilities in New York State. The company will provide at least $30 million in cash and in-kind contributions for AI research across the SUNY system, with SUNY matching up to another $25 million.

In addition, Empire State Development will give a $300 million capital grant over five years, which will be used by SUNY to purchase and install tools to support the Center.

“This investment by IBM will continue to grow New York’s high-tech industry in the Capital Region and across the state,” said Lieutenant Governor Kathy Hochul. “The artificial intelligence hardware center will expand research and partnerships at SUNY Polytechnic Institute, and ensure Tech Valley attracts innovative business and development that drives economic development in the region.”

IBM will also expand and extend its partnership with SUNY Poly for the Center for Semiconductor Research (CSR).

“AI will transform the world in dramatic ways in the coming years. 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,” said Mukesh Khare, vice president, semiconductor and AI hardware, IBM Research.


Latest Insights:

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. In the November 2019 AML/KYC Report, Zillow’s Justin Farris tells PYMNTS how the platform incorporates stringent authentication without making the onboarding and buying experiences too complex.