Machine learning and artificial intelligence to get massive VC boost

Pitango is a specialist in financing very successful FX industry ventures. Now the VC firm has launched a $175 million fund for machine learning and artificial intelligence. The cost of operating a retail FX brokerage has been a major concern for many executives over recent years, and during the course of 2016, many methods of automating specific practices and operational aspects are now under development and consideration. This month, the ability to be able to assign R&D budget to such automation gains further ground as Israeli venture capital firm Pitango has launched an early-stage fund with $175 million under management, that will be used to invest in companies at seed level and upwards. Aside from various'trendy' sectors such as life sciences, the new fund will specialize in interesting technological innovation such as Internet of Things, enterprise infrastructure and artificial intelligence.