Microsoft Creates New Artificial Intelligence And Research Group

Microsoft Corp. said Thursday it is expanding its artificial intelligence effort with the creation of a new unit called Microsoft AI and Research. The group will be led by Microsoft veteran Harry Shum and will be joined by more than 5,000 computer scientists and engineers, the company said in a statement. The move is expected to accelerate the company's effort to deliver new AI capabilities. Shares were flat in early trade, but are up 4.5% in the year to date, while the S&P 500 has gained 6%.