Most in the local tech field believe that Boston is poised to be a leading player in a new generation of companies built around artificial intelligence. That theory got a major vote of confidence on Thursday when International Business Machines Corp. announced a 10-year plan to fund cutting-edge AI research at MIT.

The $240 million investment will create the MIT-IBM Watson AI Lab, which will “carry out fundamental artificial intelligence research and seek to propel scientific breakthroughs that unlock the potential of AI,” according to the announcement. The lab will also make it a priority to launch companies based on the technology its researchers develop.

Focus areas of the lab include both AI algorithms and the chips they run on, as well as the technology’s use in industries like healthcare and cybsersecurity. Some of the funds will also go towards studying the moral and economic effects of AI.