IBM has announced it's going to work with the Massachusetts Institute of Technology on a new artificial intelligence research lab. The Watson-branded lab will receive $240 million from IBM. Many tech companies have reached deals of this sort with academic institutions.
Although private-academic partnerships in the field of AI research aren't new, IBM's involves a particularly large investment in the lab.
MIT and IBM have worked together on various projects for decades.
AI as a field has been going on for many decades, but it is quite obvious right now it has raised to a level of centrality for every major technology company, including us and frankly every other business and area, - Dario Gil, IBM
Members of the Watson AI lab are going to work on MIT's campus as well as at IBM's Watson Health and Security facilities.