New UW computer science lab hopes to advance AI, cryptocurrency research

A developer workshop hosted by Waterloo Blockchain and Interop Labs. (Submitted/Waterloo Blockchain)

A new University of Waterloo (UW) computer science lab is set to open, with hopes to advance research into artificial intelligence (AI) and blockchain.

The lab is in collaboration with Interop Labs, a systems and product development company who pledged a donation of $1 million U.S. towards the university’s growth in computer research, through the use of AI and blockchain, according to a media release on Thursday.

Blockchain is a shared and secure digital record-keeping system that keeps assets such as cryptocurrency safe and tamper-free, while also tracking transactions.

According to Axelar, a platform whose Web3 blockchain network was developed by Interop Labs, and the university, the donation will aim to create collaborations with educational institutions and industry through AI and blockchain, with hope to bring in top students to UW’s computer science programs and fellowships.

Interop Labs said in the release, that they are dedicated to allowing an open and interconnected web, which they believe grows the power to innovate and create to improve humankind.

Sergey Gorbunov is the CEO of Interop Labs, co-founder of Axelar protocol and an associate professor at UW.

“I believe we’re at the beginnings of what will be known as a complete rewrite of modern computer systems,” said Gorbunov, in part. “Superior capabilities powered by AI, coupled with global distribution and payments rails offered by blockchain systems, demand new attention to how systems are built and used. Waterloo is uniquely positioned to address these challenges, given its amazing talent, open innovation principles and track record.”

The release said the future lab will be named the GENESIS Lab, standing for Generative AI for Secure, Interconnected System. It’ll open at the university’s David R. Cheriton School of Computer Science. The focus of the space will be on systems that are accessible and safe for users, as well as applications that use AI and blockchain technology. The university plans to offer 12 PhD fellowships to students and six undergraduate fellowships that are administered by student-run organizations Waterloo Blockchain.

The University of Waterloo has been home to several computer science buildings, including the Institute for Quantum Computing, the Waterloo Data and Artificial Intelligence Institute and the Cybersecurity and Privacy Institute.

Cheriton School of Computer Science director, Dr. Raouf Boutabasaid, said that with Interop Labs’ help, the influence of the school’s research will grow.

“Collaborations with industry leaders like Interop Labs, whose groundbreaking work on the Axelar network is shaping the blockchain sector, is the key to accelerating the global impact of the transformative research happening in the Cheriton School of Computer Science,” said Boutaba. “This partnership leverages the expertise of both organizations to drive innovation at the intersection of blockchain and AI—an area poised to redefine the future of society.”