MIT invests US$1 billion in AI-focused College of Computing hot on the heels of Tsinghua’s AI centre

Massachusetts Institute of Technology (MIT) is investing US$1 billion in a college for computing and artificial intelligence (AI), hot on the heels of Tsinghua University’s announcement of a new Institute for Artificial Intelligence, as major countries such as the US and China compete for top AI talent and research to drive the new digital economy.

The new MIT Stephen A. Schwarzman College of Computing, named after Blackstone’s CEO who gave a personal contribution of US$350 million to fund its establishment, will concentrate on the study of AI-related courses that affect different aspects of human life, such as education, medical care and transport, the university announced on Monday.

“As computing reshapes our world, MIT intends to help make sure it does so for the good of all,” said MIT President L. Rafael Reif, adding that the new initiative will help to reshape MIT as both a global centre for computing research and education, and an intellectual foundry for powerful new AI tools.

The practical applications of AI are huge – from diagnosing serious illnesses like lung cancer using medical imaging, to improving manufacturing processes using sensors and big data, to enhancing security and surveillance using facial recognition technology.

Major countries and companies around the world are now locked in a battle for talent and technological supremacy, with the US currently seen as being marginally ahead of an ambitious China.

AI has assumed a key role in Beijing’s ‘Made in China 2025’ master plan, which promises to lift the country’s industries – from robotics and aerospace to new materials and new energy vehicles – up the value chain, replacing imports with local products and building global champions able to take on Western giants in cutting-edge technologies.