The Massachusetts Institute of Technology (MIT) intends to start a college that concentrates on machine learning, data science and integration of AI. The funding story is interesting, while MIT invested two-third; Stephen A. Schwarzman, Blackstone Group CEO has made his largest investment of $ 350m.
Stephen has already donated millions of dollars to many AI coaching institutions but this is his highest donation ever made. The college will be named as MIT Stephen A. Schwarzman College of Computing and will create 50 faculty positions along with many fellowships available for graduation students.
This college will foster an AI literate future. Recently, it launched a program to unite cognitive science, neuroscience and computer science researchers called the Quest for Intelligence.
MIT president Rafael Reif said that considering the present scenario computing is not solely experts’ domain. Everyone needs to master this.
Stephen A. Schwarzman said, "Our hope is that this ambitious initiative serves as a clarion call to our government that massive financial investment in AI is necessary to ensure that the US has a leading voice in shaping the future of these powerful and transformative technologies."
This year, MIT researchers have already revealed the creation of an AI technology which can identify depression, a machine-learning model capable of detecting credit card fraud and a "brain-on-a-chip".