The Stevens Institute of Technology is applauding their $7.5 million allocation from the 2024-2025 New Jersey budget, expressing excitement about improving their computer science and their artificial intelligence programs.
By John Heinis/Hudson County View
This state funding is broken down into two parts: $5.75 million for the university and $1.75 million for their artificial intelligence institute.
“We are deeply grateful to Governor Murphy, Senator Mukherji, Assemblyman Allen, Assemblywoman Ramirez, Senator Stack, Senator McKnight, Senator Sarlo, Senate President Scutari and Speaker Coughlin for their steadfast support of Stevens and their recognition of the critical role that AI and computer science play in New Jersey’s economic future,” Stevens President Nariman Farvardin said in a statement.
“This funding will allow us to expand our capacity to educate more students in these high-demand fields and accelerate our AI research initiatives, ultimately benefiting New Jersey’s technology workforce and innovation ecosystem.”
These enhancements will allow Stevens to accommodate more students in these dynamic, industry-relevant disciplines, increase its research and strengthen collaborations with industry partners.
Stevens has experienced unprecedented growth in recent years, with undergraduate applications increasing by 294 percent and graduate applications rising by 385 percent over the last decade.
The institute’s research awards have grown by nearly 200 percent since 2011, reflecting the university’s substantial and growing impact on technology innovation.
“This $7.25 million appropriation is a significant step forward in our efforts to meet the growing demand for AI education and research. We look forward to leveraging this investment to continue providing the technology talent and innovations that fuel New Jersey’s economy,” Farvardin added.
