New Delhi (CNN Business) Stephen Schwarzman, the billionaire founder of investment firm Blackstone (BX), has given the University of Oxford its largest single donation in hundreds of years to help fund research into the ethics of artificial intelligence.

The £150 million ($188 million) contribution will fund an academic institute bearing the investor's name, the British university announced Wednesday.

The Stephen A. Schwarzman Centre for the Humanities will bring together all of Oxford's humanities programs under one roof — including English, history, linguistics, philosophy and theology and religion. It will also house a new Institute for Ethics in AI, which will focus on studying the ethical implications of artificial intelligence and other new technology. The institute is expected to open by 2024.

"For nearly 1,000 years, the study of the Humanities at Oxford has been core to western civilization and scholarship," Schwarzman said in a statement. "We need to ensure that its insights and principles can be adapted to today's dynamic world."

Schwarzman is the world's 82nd richest person, according to the Bloomberg Billionaire's index , with a net worth of $15.2 billion.

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