The idea of artificial intelligence (AI) -- autonomous computers that can learn independently -- makes some people extremely uneasy, regardless of what the computers in question might be doing. Those individuals probably wouldn't find it reassuring to hear that a group of researchers is deliberately training computers to get better at scaring people witless. The project, appropriately enough, is named "Nightmare Machine." Digital innovators in the U.S. and Australia partnered to create an algorithm that would enable a computer to understand what makes certain images frightening, and then use that data to transform any photo, no matter how harmless-looking, into the stuff of nightmares. Images created by Nightmare Machine are unsettling, to say the least.

Greetings and welcome to the PROS Holdings Inc Third Quarter 2016 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. It is now my please to introduce your host Stefan Schulz, Chief Financial Officer. Good afternoon, everyone and thank you for joining us. With me on today's call is Andres Reiner, President and Chief Executive Officer. Before we begin, we must caution you that some of today's remarks, including our guidance, our strategy, our competitive position, future business prospects, revenue, bookings, market opportunities, as well as statements made during the question-and-answer session, contain forward-looking statements. These statements are based on present information and are subject to numerous and important factors, risks and uncertainties, which could cause actual results to differ materially from the results implied by these or other forward-looking statements. PROS does not assume any obligation to update the forward-looking statements provided to reflect events that occur, or circumstances that exist, after the date on which they are made. Additional information concerning risks and other factors that may cause actual results to differ can be found in the Company's filings with the SEC. Also, please note that a replay of today's webcast will be available in the Investor Relations section of our website at pros.com. We encourage everyone to review this additional information. Finally, I would like to point out that in addition to reporting financial results in accordance with Generally Accepted Accounting Principles, or GAAP, PROS reports certain financial results, as well as forward-looking guidance, on a non-GAAP basis. A reconciliation of each non-GAAP measure to the most directly comparable GAAP measure, to the extent available without unreasonable efforts is available on the press release distributed earlier today, and in the Investor Relations section of our website. Good afternoon, everyone and thank you for joining us on today's call.

Israel-based equity crowdfunding platform OurCrowd is launching a sector specific fund fully focused on digital health -- touting it as Israel's first fund with such a focus. The fund, called OurCrowd Qure, will invest in early stage startups at the seed and Series A level. Fundraising is starting now, with a target of $50 million for the first raise. Managing partner Dr Yossi Bahagon tells TechCrunch the team expects to make about 15 investments with the first fund. He says typical investments will start at $500,000 for the earliest stage startups, rising to up to about $3 million at the Series A level.

CSIRO researchers are using visions of the undead and the human face to teach a machine what terrifies us most. Nightmare Machine is an algorithm-based piece of artificial intelligence, or AI, created by a team of researchers at CSIRO and the Massachusetts Institute of Technology (MIT) that spontaneously generates zombie faces out of human ones and transforms images of places into visions of the inferno. Dr Manuel Cebrian Ramos, a research scientist at Data61, the CSIRO's digital and data innovation group, and his colleagues fed 200,000 images of normal human faces into the machine's neural network to teach it to recognise faces. The algorithm was then able generate faces at random according to what it had learnt. They then added a single zombie face, giving it slightly more weight in the neural network than the others to turn human faces into zombies.

The University of New South Wales has announced a partnership with outsourcing giant Tata Consultancy Services that will see the pair undertake joint research in areas such as machine learning, virtual reality (VR), robotics, data analytics, and cloud computing. Under the memorandum of understanding, UNSW said the organisations will work together on ideas which stem from pure technology research and give them real-world applications, with the agreement also opening up the prospect of exchanges of scholars and internships for UNSW students at Tata Consultancy's global research facilities. The memorandum was signed by Tata Consultancy's CTO Ananth Krishnan and UNSW's deputy vice-chancellor enterprise professor Brian Boyle at the consultancy firm's Asia-Pacific Summit in Sydney. "There is a lot that UNSW and Tata Consultancy Services can offer each other," Boyle said. "UNSW excels in taking our research breakthroughs and partnering with industry to make a significant global impact. Working with TCS will build on UNSW's strong international links and help accelerate innovation by opening up new opportunities around the world."

The idea of artificial intelligence (AI) -- autonomous computers that can learn independently -- makes some people extremely uneasy, regardless of what the computers in question might be doing. Those individuals probably wouldn't find it reassuring to hear that a group of researchers is deliberately training computers to get better at scaring people witless. The project, appropriately enough, is named "Nightmare Machine." Digital innovators in the U.S. and Australia partnered to create an algorithm that would enable a computer to understand what makes certain images frightening, and then use that data to transform any photo, no matter how harmless-looking, into the stuff of nightmares. Images created by Nightmare Machine are unsettling, to say the least.

The CEO and founder of cloud-based accountancy software giant Xero says artificial intelligence (AI) and machine learning technologies will be "transformational" for finance over the next few years. Rod Drury told Business Insider during a recent interview in London: "We'll see more innovation in the next 2 years than we have in the last 10 years, all driven by AI." The Xero founder says: "We're getting a massive hit on the R&D we've done around machine learning and AI. We think it's going to be transformational for the industry. "If you capture information from the bank statement and the invoice and the bills that are flying through, you can actually programme things to do a whole lot of work for you and you're just checking and making fixes, which trains the machine." Xero's accountancy software helps small and medium-sized businesses manage their accountants in the cloud but Drury believes much of the management -- things like categorizing expenditure and sending accounts to be checked -- could be automated by "smart" AI and machine learning programmes, which learn the habits of your business. "You can build unique system for each business," says Drury. "The first innovation in cloud accounting was actually getting these transactions into the cloud.

Ten years ago, at All Tomorrow's Parties, a now-defunct music festival held occasionally in the rain-harangued British seaside town of Camber Sands, I attended a show by Lightning Bolt, a noise-rock duo from Providence, Rhode Island. They had set up in the center of a grubby hall at Pontins, England's second-best-known budget holiday park. At the band's request, security had allowed only thirty or so festival-goers into a venue that could comfortably have accommodated a thousand, leaving plenty of room on the beery carpet for dancing, or possibly rioting. We clustered in the round as Brian Gibson began to flay his bass and Brian Chippendale, wearing a wrestler's mask, assaulted his drum kit, his voice blaring primally through a microphone taped to his cheek. The performance was disorienting, both intimate and savage, like the first moments after an accident, before time resumes its normal speed and the damage can be measured.

Robots are learning to create zombie faces and apocalyptic landscapes, and with your help, they can make them even more terrifying. Researchers from MIT and Australia's CSIRO have created the Nightmare Machine, an AI algorithm that can transform a normal face or landscape into nightmare fuel. The AI analyzed 200,000 normal human faces and was soon able to generate its own, but the team wanted to take it in another, freakier direction. "We want to produce scary faces," Dr. Manuel Cebrian told the Sydney Morning Herald. "So we take a zombie face –- a really scary one –- and feed it into the neural network."

About 17,000 people attended this week's IBM World of Watson conference. Many of them were trying to figure out what exactly to do with the cognitive computing engine. After an initial Watson-specific conference drew just over 1,000 people to Brooklyn, N.Y., in May 2015, IBM this year combined that event into its much larger IBM Insight analytics conference and changed the name to World of Watson. But the growing interest shown in Watson by attendees is a testament to how hot all things related to artificial intelligence are right now. At the same time, many businesses are just starting to think about how they can use cognitive applications like Watson.