The Massachusetts Institute of Technology announced plans Monday to create a new college of artificial intelligence with an initial $1 billion commitment for the program focusing on "responsible and ethical" uses of the technology.
The prestigious university said it would add 50 new faculty members and create an interdisciplinary hub for work in computer science, AI, data science, and related fields. A large part of the new funds will come from a gift from Stephen Schwarzman, chairman and co-founder of the financial giant Blackstone, after whom the new college will be named. "As computing reshapes our world, MIT intends to help make sure it does so for the good of all," said MIT President Rafael Reif.