Recode Media, Inc. title Tech industry to spend $5B on research, development and deployment article Tech industry leaders are poised to spend up to $5.5 billion on new research, software and hardware to build the future of consumer computing.
The Federal Communications Commission (FCC) and the National Science Foundation (NSF) are both expected to announce $2.4 billion in grants, with more to come, the New York Times reported.
The new grants will come as tech giants like Facebook, Alphabet and Amazon, and others focus on creating cheaper and more accessible personal computers, while the government focuses on improving security.
The government’s research and development budget for next year is $7.2 billion, or roughly 20% of the $13.5 trillion that the federal government spends annually.
The National Institutes of Health (NIH) and other federal agencies have a combined $1.2 trillion in research and innovation funding, according to the Federal Research Council, a non-profit that tracks spending.
Companies that have been working to solve problems with artificial intelligence and machine learning have also joined in the effort.
A research arm of Microsoft is also investing $1 billion in a new startup called Watson.
Meanwhile, a new group called the American Institute of Artificial Intelligence (AI) is set to launch an effort to create AI-powered robotic arms.
The group says it wants to create the next generation of robotic arms by 2020.
In a recent speech, Google CEO Sundar Pichai said that the government is a big player in AI, and the companies it invests in are part of the reason why.