Can the "AI Revolution" translate into a success story for the Pittsburgh economy?
Some are calling it "The AI Revolution" - the once-in-a-generation technology that is poised to change our lives, but can it transform Pittsburgh's economy in the process?
Groundbreaking research in AI and robotics, primarily at Carnegie Mellon University, has made Pittsburgh a world leader, spawning dozens of startups here for everything from autonomous cars to language-teaching apps and AI-powered robots.
Still, the region has fallen short, largely failing to turn technological advances into jobs and economic growth.
Since the COVID-19 pandemic, Pittsburgh has lost jobs and people, but can this AI revolution turn things around?
"Absolutely," said Jay Katarincic, one of the heads of Pittsburgh's newly created AI Strike Team. "The good news is, it's not too late and people are starting to recognize our time is now."
The resurgence may well be starting in East Liberty where dozens of startups have taken root on what is now being called "AI Avenue."
From Duolingo world headquarters to Google at Bakery Square, there are about 25 AI-focused companies. Even though the Pittsburgh region is at the forefront of tech research, we've still lost out to neighboring states like Ohio, which has secured the development of a $20 billion microchip manufacturing plant outside of Columbus.
Now, Katarincic and Joanna Doven, as part of the Pittsburgh AI Strike Team, are trying to land similar facilities here by forging a united front of business, academia, and government to grow AI development throughout our region.
"We have a moment in time to catapult our region in terms of job growth and business investment by leveraging our assets in AI," Doven explained.
Since AI computing requires a tremendous amount of energy, investors have just unveiled plans to turn the recently imploded Homer City coal-fired plant into a $10 billion natural gas plant to power a massive AI data center.
Pennsylvania Governor Josh Shapiro said he wants to leverage Pennsylvania's energy resources and AI research to spawn new industries.
"I want to make sure we win the battle of AI here in America and we don't let China beat us on that front," Shapiro said. "Pennsylvania is going to have something to say about it because we have energy that can be used to power these data centers."
The hope is that all of it will translate into jobs. The AI company Hellbender just announced it will be expanding its manufacturing space into an empty spot on AI Avenue.
"The great thing about Hellbender is they hire a ton of veterans," said Greg Perelman of Walnut Capital. "There's going to be 75-100 people working in this space."
Turning AI and robotic research is a challenge and an opportunity. To make it happen, leaders in these spaces said it's going to take a coordinated strategy and a monumental effort, but they have also said they're up to the task.
