Ever since the start of the AI boom, there has been a drought in talented AI developers and researchers. The best way to fix this is to educate more of them and so MIT have just announced a $1 billion initiative to do exactly that by establish a new college of computing to train the next generation of machine learning specialists. The college is not just about training AI skills, it will also focus on students in fields like biology, chemistry, physics, politics, history, and linguistics who also know how to apply machine learning to these disciplines. The new college of computing is being built with $350 million in funding from Stephen A. Schwarzman, the CEO and cofounder of Blackstone. MIT’s new Stephen A. Schwarzman College of Computing will create 50 new faculty positions and numerous fellowships for graduate students. The school will open next September and will be housed in existing buildings at MIT before moving to its own space, expected in 2022.