Facebook Inc. (NASDAQ:FB) Is Working On Streamlining Research Through Partnering With Universities

December 22, 2016 - By Ruchi Gupta   ·   0 Comments

It is no secret that Facebook Inc. (NASDAQ:FB) is working diligently to stay on top of its industry. However, further proof is the social-media giant’s new partnership with various universities. These partnerships were developed, so as to allow the company swifter collaboration on technology research reports.

It was initially announced on Wednesday, by Facebook, that they had entered partnership agreements with 17 universities. These include the likes of world-famed Harvard, as well as Princeton.

How partnerships with these universities will aid Facebook

Facebook had already announced last year, that in terms of marketing, it had hit somewhat of a cap. This makes it difficult for the company, as it is striving to transform its platform with both virtual realities as well as AI (Artificial Intelligence). Which, then calls the external need for outsourcing options, with regards to research for the social giant.

How partnerships with these universities will aid Facebook

Although, there has been no official statement yet from either Facebook nor the universities in question regarding how the company plans to make use of the universities to streamline its research products. This does not come as a surprise, however, from past partnerships, it has been revealed that coming to an agreement between a company and a university can take up to several months.

However, when questioned on the matter, Chief technology development officer at Harvard, Isaac Kohlberg, stated, “When curiosity strikes, with this new agreement in place, Harvard researchers came initiate new projects with scientific colleagues at Facebook almost immediately.”

What do the universities receive from this partnership

Although, it was already made clear that those who study at these universities in question, will gain a huge advantage, due to being able to work with professionals, in the fields they are interested with, on various projects. There is also an advantage for the universities in general.

This advantage was stated by both Facebook and the universities involved, and namely, it is a payment from Facebook to each participating university. However, both parties are refusing to disclose the total amount.

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By Ruchi Gupta

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