XPRIZE Announces $5 Million IBM Watson AI XPRIZE

The has announced a new $5 million competition focused on cognitive computing.

Announced at a recent presentation, the will challenge teams from around the world to develop and demonstrate how humans can collaborate with powerful cognitive technologies to take on some of the world's biggest challenges. Over the next four years, teams will compete for interim prizes and the opportunity to advance to next year's competition at , 's annual conference. In 2020, three finalist teams will demonstrate their projects in individual TED Talks, with their ideas to be evaluated by a panel of expert judges for technical validity. Ultimately, the TED and XPRIZE communities will choose the winner based on the "audacity of their mission" and the "awe-inspiring nature" of the team's TED Talk. Complete rules and guidelines for the competition will be made available in May.

"We believe that cognitive technologies like Watson represent an entirely new era of computing, and that we are forging a new partnership between humans and technology that will enable us to address many of humanity's most significant challenges — from climate change, to education, to health care," the XPRIZE Foundation said in a statement.

"." XPRIZE Foundation Press Release 02/17/2016.