MIT announces $1bn AI college, Blackstone CEO major contributor

MIT announced a $1 billion commitment to address the global opportunities and challenges presented by the prevalence of computing and the rise of artificial intelligence (AI). The initiative marks the single largest investment in computing and AI by an American academic institution, and will help position the United States to lead the world in preparing for the rapid evolution of computing and AI.

The initial plan centers on the new MIT Schwarzman College of Computing, made possible by a $350 million foundational gift from Schwarzman, the chairman, CEO and co-founder of Blackstone ($440 billion AuM). It will be an interdisciplinary hub for work in computer science, AI, data science, and related fields.

Among the college’s stated goals are to “reorient MIT to bring the power of computing and AI to all fields of study at MIT, allowing the future of computing and AI to be shaped by insights from all other disciplines” and “transform education and research in public policy and ethical considerations relevant to computing and AI”.

In a statement, Schwarzman said: “There is no more important opportunity or challenge facing our nation than to responsibly harness the power of artificial intelligence so that we remain competitive globally and achieve breakthroughs that will improve our entire society.”

Read the full release

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