Smartphone chipmaker Nvidia has partnered with automotive safety company Autoliv and automotive company Volvo to develop self-driving software and hardware. "This cooperation with NVIDIA places Volvo, Autoliv, and Zenuity at the forefront of the fast-moving market to develop next generation autonomous driving capabilities and will speed up the development of Volvo's own commercially available autonomous drive cars," Håkan Samuelsson, President and Chief Executive of Volvo Cars, stated in the press release Tuesday. The press release further stated the companies will work together to create artificial intelligence-based deep learning solutions for object detection, recognition the anticipation of threats and safe navigation. The self-driven car developed by Nvidia, Volvo, Autoliv, and Zenuity, will use the Nvidia Drive PX2 artificial intelligence based self-driving system which was first showcased at Consumer's Electronic Show (CES) 2016.

When Apple announced plans earlier this year to expand its engineering operation in Seattle, the company said it would be looking for "the best people who are excited about AI and machine learning." Job listings on the tech giant's website reveal just who Apple hopes to attract on its Siri Advanced Development team. Business Insider pointed at the listings on Monday, saying that Apple was making a move on Amazon's home turf to go after Siri talent in the land of Alexa -- the voice-activated assistant on devices such as the Echo and Dot. One job, posted back in January, is for a software engineer, and the other, posted on May 23, is for a speech scientist/engineer. A description at the bottom of both doesn't pull any punches when it comes to regarding the work as groundbreaking and Siri as the original AI.

Austin-based SparkCognition, a startup focused on artificial intelligence, announced Monday that it has closed on $32.5 million in funding. Verizon Ventures led the Series B funding round with participating from The Boeing Company, through its Boeing HorizonX unit. "SparkCognition has pioneered the use of artificial intelligence to bring unparalleled advancements to many of the world's Fortune 1000 companies," Vijay Doradla, Director at Verizon Ventures, said in a news release. "We are thrilled to invest in SparkCognition again, and look forward to supporting the company as it continues to transform markets and the businesses of tomorrow." SparkCognition has created a data-driven analytics platform for Internet of Things applications with customers in energy, oil and gas, manufacturing, finance, aerospace, defense, telecommunications, and security.

The increasing usage of cloud-based solutions in the BFSI industry, rising demand for the data-driven solutions, increasing internet banking penetration, and scope of deriving market risk are fostering the market growth. The market is segmented into technologies, deployment types, verticals and regions. Globally, BFSI is the second most customer data-centric industry, where players have a bundle of new business opportunities from Cognitive Systems and Artificial Intelligence (AI). It is an evolving data driven technology that works on on-premises and cloud-based software. The system replaces the human thought process with a simulated digital model that includes a self-learning system, which derives patterns by using data mining, speech recognition, and language processing techniques. The cognitive systems require AI platform to derive the complicated business issues.

Alphabet and Avis Budget will work together on self-driving cars, the companies announced on Monday. Alphabet's self-driving car company, Waymo, will rely on Avis to service and store its fleet of Chrysler self-driving vans, the companies said in a statement. Most of the 600 vehicles will be deployed, in part to support a pilot in Phoenix, Arizona. Shares of Avis bounced more than 18 percent immediately after the news, and were up more than 12.5 percent mid-morning. Avis competitor Hertz also saw shares spike more than 7 percent.

A Chrysler Pacifica hubrid minivan, decked out in Waymo's colors and self-driving technology. Former Google car project Waymo has signed a deal with Avis Budget Group to service and house a fleet of self-driving vehicles being tested in Phoenix, giving the rental car agency a foothold in the budding market for autonomous transportation. The agreement accelerates Google parent Alphabet Inc.-owned Waymo's effort to commercialize its self-driving car technology, which is beginning a real-world pilot program after years of tests. Avis Budget said Monday that it would provide "fleet support and maintenance services" to the Waymo vehicles in Phoenix. Waymo is providing free rides to passengers in a fleet of Chrysler Pacifica Plug-In Hybrid minivans outfitted with Waymo's myriad autonomous car sensors.

DALIAN, China--(BUSINESS WIRE)--New research from Accenture (NYSE:ACN) reveals that artificial intelligence (AI) could accelerate China's economic growth rate from 6.3 percent to 7.9 percent by 2035, by transforming the nature of work and opening new sources of value and growth. The report, titled "How Artificial Intelligence Can Drive China's Growth," explores new insights into AI and its impact on China's economy. Based on analysis and modeling by Accenture Research, in collaboration with Frontier Economics, there is dramatic impact on China's growth when AI is added as a completely new factor of production to the economic growth model. "China has already made great leaps in the development of AI and our research shows that it has the potential to be a powerful remedy for slowing growth," said Chuan Neo Chong, Accenture Greater China Chairwoman. "However, as with any catalyst, it is important to remember the challenges and the risk of unintended consequences. Stakeholders must prepare themselves intellectually, technologically, politically, ethically and socially for the promise of AI."

New research from Accenture (NYSE:ACN) reveals that artificial intelligence (AI) could accelerate China's economic growth rate from 6.3 percent to 7.9 percent by 2035, by transforming the nature of work and opening new sources of value and growth. This Smart News Release features multimedia. AI is poised to boost China's GVA by USD $7,111 billion by 2035 (Graphic: Business Wire) The report, titled "How Artificial Intelligence Can Drive China's Growth," explores new insights into AI and its impact on China's economy. Based on analysis and modeling by Accenture Research, in collaboration with Frontier Economics, there is dramatic impact on China's growth when AI is added as a completely new factor of production to the economic growth model. "China has already made great leaps in the development of AI and our research shows that it has the potential to be a powerful remedy for slowing growth," said Chuan Neo Chong, Accenture Greater China Chairwoman.

CB Insights unveiled the AI 100--a list of 100 of the most promising private companies applying artificial intelligence algorithms across industries, from healthcare to auto to fintech--at the Innovation Summit today. The companies were selected from a pool of nearly 500 applicants and nominees based on several criteria, including data submitted by the companies, responses to interview questions, technology focus, investor profile, team profile, mosaic scores, and funding history. "From financial services to healthcare to transport, incumbent companies in every industry are seeing that AI will reshape their industries. And as so often happens, transformational innovation comes from emerging companies. In the case of AI, a lot of the groundbreaking work is being done by the AI 100. The companies in the AI 100 are accelerating research, improving efficiency, and making many game-changing advancements that will be felt for decades to come," CB Insights CEO Anand Sanwal said in a press release.