More AI investment coming to Pittsburgh
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After more than $90 billion in investment was announced in Pennsylvania's energy and tech sectors earlier this summer, the Keystone State is set for more.
Why it matters: Pittsburgh is positioning itself as a key hub in the rapidly growing AI industry in hopes to keep growing as a tech hub.
Driving the news: BNY CEO Robin Vince announced a $10 million agreement to create the BNY AI Lab on CMU's campus during a Thursday discussion at the second annual AI Horizons Summit, held on AI Avenue at Bakery Square.
What they're saying: "The revolution that is coming with AI ... this is the next chapter of growth in our commonwealth," said Gov. Josh Shapiro.
- Shapiro announced on Thursday he is expanding AI access to all qualifying state employees after a pilot program showed workers saved 95 minutes a day by using ChatGPT to help provide government services.
By the numbers: Vince said over 100 company employees are working on AI advancement for the bank.
- He said it is another step in a legacy of innovation that has allowed BNY to survive for over 240 years.
- "We absolutely believe in innovation. The only way you get so old is to reinvent."
State of play: Hundreds attended the AI Horizons event on Thursday where industry folk, investors and startup heads mingled and looked to make deals in the fast-growing AI economy.
Ryan's thought bubble: Panelists spoke a lot about the potential to expand AI and energy in Pennsylvania and about deals made earlier this year, but they spoke less about what new investments are being made now.
Friction point: Environmental group Food & Water Watch said AI data centers are consuming too much fossil-fueled powered electricity and water, and the group's Pennsylvania director, Megan McDonough, criticized Shapiro for focusing on AI expansion and encouraging the development of more natural gas infrastructure.
Between the lines: Emission-free nuclear energy should play a role in AI expansion, said Westinghouse interim CEO Dan Sumner.
- The Cranberry-based company is one of the world leaders in nuclear energy development, and Sumner said Westinghouse is using AI to help make building reactors faster and is eyeing domestic sites to build more nuclear energy to power AI.
- "We have deep convictions that for this country to win the AI war we need nuclear energy," he said.
What's next: The summit continues Friday with an appearance from U.S. Sen. Dave McCormick (R-Pittsburgh).
- A $100,000 Forge AI Startup prize will be awarded to a local company.