College In Hoboken Gets $36M To Create New School Of Computing, Will Lead AI Research

HOBOKEN, NJ — The Stevens Institute of Technology, a university overlooking the Hudson River in Hoboken, says it's addressing a "fundamental shift in the technology workforce" by using $36 million in donations to create a new school for AI research and more.

The new School of Computing could open as early as this fall, they said.

The Board of Trustees approved the school so the university can "lead in artificial intelligence and computing education and research as these technologies reshape how every industry operates and [which] skills employers demand," they said.

School spokesperson Kara Panzer said the school will have classes both for undergraduates and graduate students.

"Employers increasingly seek graduates who can integrate computational expertise with deep domain knowledge rather than pure coding skills alone," the school noted, with classes that blend computing with life sciences, finance, engineering and other areas, preparing students for leadership positions in "industries transformed by AI."

Stevens has long been known as a competitive engineering school, and has been ranked in the top 50 most innovative schools in the country, according to U.S. News & World Report.

"Artificial intelligence represents a transformation as profound as the widespread adoption of the internet," said Nariman Farvardin, president of Stevens Institute of Technology. "Institutions of higher education must adapt to AI’s impact on society and the labor market."

Computing-related majors represent more than 25 percent of Stevens’ total enrollment, a spokesperson said.

Stevens has launched a national search for a dean for the new school.

The university was founded in 1870 and has more than 8,000 undergraduate and graduate students.