IBM is teaming up with University College Cork, Ircset and Science Foundation Ireland to invest in the development of advanced risk analytics technologies.
Supported by IDA Ireland, the collaboration is part of IBM's worldwide network of advanced analytic centres, which are located in the US, Germany and UK.
The tech firm will use the expertise generated by its research labs to develop enhanced methods and tools to help companies manage risk in industries such as manufacturing, pharmaceutical, healthcare, and government.
"This collaboration provides IBM the opportunity to explore exciting new areas of risk modelling and management, incorporating new techniques in information extraction, visualisation, and optimisation that will enable businesses to more effectively manage their operations in the face of uncertainty," said Brenda Dietrich, vice president of business analytics and math sciences at IBM Research.
"Ireland's track record, combined with its ongoing research and development approach to new business creation, makes it an ideal location for the risk management analytics research."
Minister for Finance Brian Lenihan welcomed the announcement.