IBM has announced the launch of watsonx AI Labs, a new innovation hub in New York City aimed at accelerating AI development. This initiative is designed to connect IBM's resources and expertise with emerging AI developers to foster the creation of groundbreaking applications for businesses.

Located at IBM's offices at One Madison in Manhattan, watsonx AI Labs will serve as a collaborative space where IBM researchers and engineers work alongside startups and large enterprises. The goal is to unlock real-world value from AI by co-creating solutions that address complex challenges.

New York City is recognized as a global hub for AI, hosting over 2,000 startups and experiencing significant workforce growth in recent years. Since 2019, more than 1,000 AI-related companies in the city have raised $27 billion in funding. In line with this vibrant ecosystem, IBM has announced plans to acquire expertise and license technology from Seek AI, a local startup specializing in enterprise data harnessing through AI agents.

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 engage with local talent through collaborations with universities and research institutions while supporting entrepreneurs. Over the next five years, successful local startups will have access to technical experts and potential investment from IBM Ventures' $500 million Enterprise AI Venture Fund.

Sarah Nagy, CEO of Seek AI, expressed enthusiasm about joining forces 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."

The focus areas for watsonx AI Labs include developing domain-specific solutions for customer service optimization, supply chain management, cybersecurity measures, responsible governance practices within artificial intelligence systems as well as open-source projects related specifically towards advancing these fields further into mainstream usage globally.

For more information on participating in watsonx AI Labs visit www.ibm.com/products/watsonx-ai-labs.