Seoul, South Korea — Governor Phil Murphy witnessed the signing of a Memorandum of Understanding (MOU) between Princeton University, a prominent New Jersey-based research university, and CJ AI Center, a leading global lifestyle company headquartered in South Korea. The agreement, signed during the Choose New Jersey Governor-led economic development mission to East Asia, establishes collaborative research efforts and innovation in the fields of artificial intelligence, machine learning, and computer and information sciences between the two entities.
“This agreement is a testament to New Jersey and South Korea’s work as leaders in the developing field of artificial intelligence and offers a tremendous opportunity to combine the work of some of the world’s best talent,” said Governor Murphy. “The highly-regarded researchers at Princeton University working together with the global industry leaders at CJ AI will reimagine the future of biotechnology.”
The MOU was signed on October 19, 2023 by Craig Arnold, Vice Dean for Innovation, Princeton University, and Chi-hoon Lee, Chief Digital Officer, CJ AI Center.
The agreement will facilitate further research into the possibilities of artificial intelligence in connection to production and bioengineering. The multi-disciplinary collaboration will facilitate a dialogue between industry leaders, academic experts, and consumers, expanding the potential for scientific development. The MOU marks a pivotal moment for stimulating and diversifying economic growth across New Jersey and Korea.
“This agreement positions the university and the company to do groundbreaking research and apply some of the most important emerging technologies of this century to the needs of industry,” said Craig Arnold, Princeton University Vice Dean for Innovation. “I look forward to working with our CJ collaborators to implement the agreement and to see what develops from the exciting potential it offers.”
“This collaboration with Princeton’s AI experts aims to leverage AI’s transformative potential, combining their expertise with CJ’s industrial knowledge and resources, “ said Lee Chi-hoon, CJ Chief Digital Officer (CDO) and Head of the CJ AI Center. “The objective is to pioneer innovative solutions, reaffirming a commitment to innovation and solidify our position as industry leaders, driving excellence in our core sectors.”
“New Jersey’s innovative work in the technology sector is the perfect backdrop for this type of collaboration,” said Wesley Mathews, President and CEO of Choose New Jersey. “Together, Princeton University and CJ AI Center will revolutionize the ways in which industries use AI. This partnership underscores New Jersey’s position within this emerging field as a unique and forward-thinking environment to foster innovation.”
Reporters interested in more information on the New Jersey East Asia economic mission may contact Mahen Gunaratna (firstname.lastname@example.org) and Ingrid Austin (email@example.com) or visit choosenj.com/EastAsiaMission for additional details.
About Choose New Jersey, Inc.
Choose New Jersey is New Jersey’s leading nonprofit economic development organization. We stimulate job creation and attract capital investment to grow New Jersey’s economy. We market New Jersey globally as the best state in the United States to live, work, and play, and we guide businesses in establishing or expanding operations here. Our staff, supported by a network of state agencies and private partners, provide free, confidential assistance to guide companies in establishing operations in New Jersey. To learn more, visit choosenj.com.