Newfoundland to benefit from $18M in Funding to Foster Innovation
The Government of Newfoundland and Labrador is set on increasing research and innovation in the province. Through a collaborative effort between the federal and provincial government and IBM Canada there will be an investment of more than $18 million offered through two new initiatives.
Each initiative will be housed at Memorial University and includes the Centre for Analytics, Informatics and Research (CAIR) and the Accelerated Analytics and Machine Learning (AAML) project.
These initiatives will focus on innovation and research in a range of fields including data science, astrophysics, genetic analysis, AI and machine learning, image analysis, and scientific computing. The CAIR will be equipped with powerful, high-performance computers in an effort to process mass quantities of complex data which will lead to faster insights for projects including for the AAML.
This funding will include a $16 million in-kind investment of hardware, software, and staffing from IBM over four years. The provincial government will contribute $1.35 million towards the two initiatives, while the Government of Canada will contribute $1.4 million through the Atlantic Canada Opportunities Agency.
In addition to IBM’s financial contribution, IBM will further drive economic development in the province by offering the IBM SkillsBuild program. This free digital training program helps foster new skills which can then contribute to innovation. SkillsBuild provides learners with professional workplace readiness and technical skills and enables them to earn digital badges recognized by the market. Globally, IBM is committed to providing 30 million people with new skills needed for the jobs of tomorrow by 2030.
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