City looks to become artificial intelligence powerhouse
City Hall and the New York City Economic Development Corporation have announced new initiatives designed to position the five boroughs as a leader in artificial intelligence. Deputy Mayor Maria Torres-Springer emphasized the unique blend of cultures, people, and ideas in New York City that creates a fertile ground for AI innovation. She believes that the future of AI, including generative AI and applied AI, is particularly promising in the city.
The city plans to select a company to establish a collaboration between AI startups and local businesses and industries, leveraging AI technology to drive growth and development. The initiative aims to support up to 75 AI startups based in New York City to partner with five different legacy industries. Together, they will develop AI-specific tools to enhance competitiveness and solve business challenges in a rapidly evolving landscape.
The NYCEDC Chief Strategy Officer, Cecilia Kushner, outlined the goals of the proposal, stating, "We're looking for an operator to facilitate partnerships between AI startups and established industries, ensuring they remain competitive in the long term and create practical solutions for their business needs."
According to a report by the EDC, New York City is already a prominent player in the field of AI, boasting over 40,000 AI professionals, 1,200 active investors, and more than 2,000 AI startups, including 35 unicorns (startups valued at over $1 billion).
Despite some skepticism, officials argue that AI is a valuable tool, particularly in sectors like climate change and healthcare. Chris Lehane, Chief Policy Officer at Open AI, highlighted the positive impact of AI in healthcare, where it is used for diagnostics, enabling quicker and more accurate diagnoses that can ultimately improve health outcomes and quality of life.
The Economic Development Corporation has invited companies to submit proposals for a $3 million contract that will support the AI initiative. The selection process is expected to conclude by the end of the year, signaling the city's commitment to becoming a hub for artificial intelligence innovation.
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