IBM has announced the launch of watsonx AI Labs, a new innovation hub in New York City aimed at accelerating AI development. The lab is located at IBM's offices at One Madison and is part of IBM's global network of engineering labs. It will serve as a collaborative space for IBM researchers, engineers, startups, and large enterprises to develop AI applications.
The initiative is designed to leverage New York City's status as a leading center for AI development. The city hosts over 2,000 AI startups and has seen significant growth in its AI workforce. Since 2019, more than 1,000 AI-related companies in the city have raised $27 billion in funding.
In conjunction with the launch of watsonx AI Labs, IBM also announced plans to acquire expertise and license technology from Seek AI, a startup based in New York City. Seek AI specializes in building AI agents that help businesses extract value from enterprise data.
Ritika Gunnar, General Manager of Data & AI at IBM, emphasized the unique nature of the lab: "This isn't your typical corporate lab. watsonx AI Labs is where the best AI developers gain access to world-class engineers and resources and build new businesses and applications that will reshape AI for the enterprise."
Julie Samuels, President and CEO of Tech:NYC, highlighted the significance of this investment: "IBM's launch of watsonx AI Labs signals a transformative investment in New York's innovation ecosystem... It's a win for our tech sector, communities, workforce, and economy."
The lab aims to attract local talent by collaborating with universities and research institutions while supporting local entrepreneurs. Over the next five years, successful startups launching solutions through the lab may receive support from IBM Ventures' $500 million Enterprise AI Venture Fund.
Sarah Nagy, CEO of Seek AI, expressed enthusiasm about partnering with IBM: "Building a foundational part of watsonx AI Labs allows us to pair our expertise building data agents with IBM's engineering depth to solve clients' toughest AI challenges."
watsonx AI Labs will focus on creating domain-specific solutions addressing various enterprise challenges such as customer service optimization and cybersecurity.
For more information on participating in watsonx AI Labs, visit www.ibm.com/products/watsonx-ai-labs.