U of T to open AI-focused innovation centre with historic $100M donation

The University of Toronto has announced a historic gift of $100 million for its upcoming Schwartz Reisman Innovation Centre, a 750,000-sq.-ft. complex meant to anchor the university's AI and biomedical expertise, including the Vector Institute for Artificial Intelligence, as well as provide a new base for its entrepreneurship network.

U of T says the $100 million is the largest donation in its history and calls it "the largest gift ever to the Canadian innovation sector." The gift comes from Gerald Schwartz, founder and CEO of private equity firm Onex Corporation, and Heather Reisman, chief executive of Indigo Books and Music, who have been married since 1982. Schwartz and Reisman wanted to support interdisciplinary exploration and "research-based innovation as a driver of economic and social prosperity."

Renowned AI scholar and U of T professor emeritus Dr. Geoffrey Hinton says the Centre "will help consolidate Toronto’s leading position in the AI world." Hinton, who also serves as chief scientific advisor to the Vector Institute and engineering fellow at Google, is credited as one of the godfathers of modern AI for his research in deep learning and neural networks.

Located on the eastern side of the school's downtown campus, the Centre will be built in two phases and comprise two edifices: first, a 12-storey tower to house the Vector Institute and other initiatives; and then a 20-storey tower for research labs focused on regenerative medicine, genetics and precision medicine. Both towers will provide space for startups and fast-growing companies. Construction on phase one will begin in the fall of 2019.

Located alongside the Vector Institute in the 12-story tower will be the new Schwartz Reisman Institute for Technology and Society, for study on the social impact of modern technology more generally. A director will be appointed in the coming months to lead the development of programming and research initiatives at the Institute; that person will hold the Schwartz Reisman Chair in Technology and Society.

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