C3.ai (NYSE:AI) is a leading software company, which provides Artificial Intelligence services to enterprises. The company is poised to ride the wave of growth forecasted for AI. The global Artificial Intelligence (AI) market is forecasted to grow at a meteoric 20.1% CAGR from $387 billion in 2022 to over $1.3 trillion by 2029. C3.ai serves an envious list of large reputable customers from The US Air Force and the Department of Defence, to large energy companies such as Shell & Engie. They have been growing revenues at a 40% CAGR over the past couple of years, while the stock price has declined massively.
In the past five years, interest in applying artificial intelligence (AI) approaches in drug research and development (R&D) has surged. Driven by the expectation of accelerated timelines, reduced costs and the potential to reveal hidden insights from vast datasets, more than 150 companies with a focus on AI have raised funding in this period, based on an analysis of the field by Back Bay Life Science Advisors (Figure 1a). And the number of financings and average amount raised soared in 2021. At the forefront of this field are companies harnessing AI approaches such as machine learning (ML) in small-molecule drug discovery, which account for the majority of financings backed by venture capital (VC) in recent years (Figure 1b), as well as some initial public offerings (IPOs) for pioneers in the area (Table 1). Such companies have also attracted large pharma companies to establish multiple high-value partnerships (Table 2), and the first AI-based small-molecule drug candidates are now in clinical trials (Nat.
The AI 100 is CB Insights' annual list of the 100 most promising private AI companies in the world. This year's winners are working on diverse solutions designed to recycle plastic waste, improve hearing aids, combat toxic online gaming behavior, and more. CB Insights has unveiled the winners of the sixth annual AI 100 -- a list of the 100 most promising private AI companies across the globe. Some of this year's winners are advancing the development and use of artificial intelligence (AI) across specific industries -- such as healthcare, gaming, and agriculture. On the other hand, some are developing applications to support sales, engineering design, cybersecurity, and other functions across a wide range of industries.
A group of Democratic lawmakers led by Senator Ron Wyden of Oregon is calling on the Federal Trade Commission to investigate ID.me, the controversial identification company best known for its work with the Internal Revenue Service. In a letter addressed to FTC Chair Lina Khan, the group suggests the firm misled the American public about the capabilities of its facial recognition technology. Specifically, lawmakers point to a statement ID.me made at the start of the year. After CEO Blake Hall said the company did not use one-to-many facial recognition, an approach that involves matching images against those in a database, ID.me backtracked on those claims. It clarified it uses a "specific" one-to-many check during user enrollment to prevent identity theft.
Uber announced a few big plans at its product event on Monday, including autonomous deliveries and the ability to specify if you want your ride to be an electric vehicle. Now, to be clear, these new features will not be rolling out to everyone right away. Uber rolled out its Comfort Electric program in Los Angeles, San Francisco, San Diego, and Dubai, while promising it would add more cities soon. The feature lets riders choose an electric ride, similar to how you can order a larger vehicle (Uber XL) or a ride with your pet (Uber Pet). "It's as simple as tap a button and request a ride in a premium EV like a Tesla or Polestar," the company wrote in a press release.
Almost exactly a year ago, Google launched its Tensor Processing Unit (TPU) v4 chips at Google I/O 2021, promising twice the performance compared to the TPU v3. At the time, Google CEO Sundar Pichai said that Google's datacenters would "soon have dozens of TPU v4 Pods, many of which will be operating at or near 90 percent carbon-free energy." Now, at Google I/O 2022, Pichai revealed the blue-ribbon fruit of those labors: a TPU v4-powered datacenter in Mayes County, Oklahoma, that Google says is the world's largest publicly available machine learning hub. "This machine learning hub has eight Cloud TPU v4 Pods, custom-built on the same networking infrastructure that powers Google's largest neural models," Pichai said. Google's TPU v4 Pods consist of 4,096 TPU v4 chips, each of which delivers 275 teraflops of ML-targeted bfloat16 ("brain floating point") performance.
NetApp, a global, cloud-led, data-centric software company, announced that NetApp EF600 all-flash NVMe storage combined with the BeeGFS parallel file system is now certified for NVIDIA DGX SuperPOD. The new certification simplifies artificial intelligence (AI) and high-performance computing (HPC) infrastructure to enable faster implementation of these use cases. Since 2018, NetApp and NVIDIA have served hundreds of customers with a range of solutions, from building AI Centers of Excellence to solving massive-scale AI training challenges. The qualification of NetApp EF600 and BeeGFS file system for DGX SuperPOD is the latest addition to a complete set of AI solutions that have been developed by the companies. NetApp's portfolio of NVIDIA-accelerated solutions includes ONTAP AI to eliminate guesswork for faster adoption by using a field-proven reference architecture as well as a preconfigured, integrated solution that is easy to procure and deploy in a turnkey manner.
During the pandemic especially, it's become overwhelming for small- and medium-sized businesses (SMBs) to answer all of their customer service requests. A Freshworks survey found that companies experienced a 71% increase in overall contact volume between February 2020 and January 2021, and expect it to increase further. At the same time, customers -- while empathetic -- have become more demanding. The same poll shows that 68% of customer service managers have seen an increase in customer expectations. What's a company to do? Automation is one route to more manageable customer experience workloads, potentially.
Deep North, the intelligent video analytics company, announced the launch of Checkout IQ, its new retail loss prevention solution, which uses computer vision and AI to reduce shrinkage at checkout. The release reflects Deep North's ongoing commitment to empower retailers with data-driven tools to keep their businesses competitive, maximize revenue, and offer great customer experiences. With shrinkage at an all-time high and an increase in organized retail crime, Deep North is providing a new way for retailers to prevent fraud loss and improve their bottom line. Raises $10.5 Million Series A to Help CX Teams Turn Conversations Into Insights and Automation Designed to help retailers reduce retail fraud activities, Checkout IQ works with retailers' existing camera systems. By analyzing camera views, the application identifies items that are being scanned by the customer or the cashier, and this count is cross-referenced with the POS item count to detect any discrepancies.
After months of rumors, Google announced its own smartwatch, called the Pixel Watch, will be coming this fall. Although the tech giant has supported smartwatches through its wearable operating system and completed its acquisition of Fitbit last year, this is Google's first branded smartwatch. The Pixel Watch will have a circular, domed design made with recycled stainless steel and customizable bands. Even though the watch also has plenty of features not concerned with health tracking, Rick Osterloh, Google's senior vice president of devices and services, teased the Pixel Watch's "deep integration" with Fitbit that will include heart rate and sleep tracking as well as workout metrics users can measure against their goals. Meanwhile, Google is entering a crowded market for health-tracking wearables, with competitors like Apple, Amazon, Samsung, Withings and Garmin.