IBM Investing $2Bn for Expansion in NY State to Augment Artificial Intelligence
- Published | 12 February 2019
IBM plans to invest more than USD 2 billion at SUNY Polytechnic Institute campus in Albany by Establishing the IBM Research AI Hardware Center will accelerate the Cloud Innovation and Artificial Intelligence Market.
Global: The IBM Research AI Hardware Center will serve as the core of a new network of research and commercial partners, strengthening the Capital Region's position of New York’s "Tech Valley" and a global hub for innovative research and development. The center will execute AI-focused computer chip research, development, prototyping, testing, and simulation.
It will attract new AI industry companies and federal research to the state while fostering economic development. The IBM defined plans to provide at least USD 30 million in cash for AI research across the SUNY system, with SUNY collecting up to USD 25 million for a combined total of USD 55 million. Additionally, Empire State Development will provide a USD 300 Million capital grant to the Research Foundation for SUNY to purchase, own and install tools necessary to support the IBM Research AI Hardware Center over the five years. IBM plans to extend its partnership for Semiconductor Research (CSR) up to 2023 that is set to expire at the end of 2021.
"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. 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."-said, Andrew M. Cuomo, Governor, New York.
Mukesh Khare, IBM Research VP of Semiconductor and AI Hardware also said, "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.”
According to BlueWeave Consulting, with the establishment of IBM Research AI Hardware Center helps in the Demonstration of AI in a different section which in turn boosts digital transformation to a broader level. Increasing the adoption rate of big data and AI advanced has benefited the global artificial intelligence market. Various end-use industries have also employed artificial intelligence such as retail and business analysis which enhances the demand in the market. Moreover, the growing progression of machine interpretation, question acknowledgment, and protest observation has further enlarged the demand for artificial intelligence. New AI implementation will Bridge the skills gap and enhance employability. Software as a service (SaaS) applications and cloud platforms will continue to drive benefits for companies of all types and sizes. The future of SaaS applications will include AI-powered automation software to streamline workflow by automating common tasks. Additionally, the wider adoption of the cloud will also require enhanced security protections and next-generation flash storage processors. In addition, this will allow the customers to more securely operate even the most sensitive applications without having to trust the cloud. The introduction of new technology enables cloud and enterprise data centers to access data up to 50x faster with 1/10th of the computational load and power consumption.
According to BlueWeave consulting’s upcoming report, Titled-“ Artificial Intelligence Market By Technology (Automated Robotic System, Expert System, Embedded System, Digital Assistance System, and Artificial Neural Network), By Application (Cyber Security, Context Aware Processing, Speech Recognition, Video Analysis, Gesture Control, Language Processing, Querying Method, Digital Personal Assistant, Image Recognition, Smart Robots, and Deep Learning),By End- Use (Media & Advertising, BFSI, IT & Telecom, Retail, Healthcare, Automotive & Transportation, and Others), Size and Forecast, 2018-2025,”- Artificial intelligence has been one of the fastest-growing technologies in recent years. AI is connected to human intelligence with similar characteristics such as language understanding, reasoning, learning, problem-solving, and others. Manufacturers in the market observe enormous underlying intellectual challenges in the development and revision of such a technology. AI is stood at the core of the next-gen software technologies in the market.