Google Boosts Artificial Intelligence with Moodstocks Buyout

Making a strong push toward enhancing its artificial intelligence (AI) capabilities, the world's leading search engine giant, Alphabet Inc.'s (GOOGL - Analyst Report) Google acquired Moodstocks, a French start-up specialized in instant smartphone image recognition. The financial terms of the deal remain under wraps. Moodstocks' "deep-learning" AI technology, allows computers, including smartphones, to identify and remember objects in the real world. The company said that the on-device image recognition technology was developed in 2012 and has been developing object recognition using deep learning approaches. According to a statement on Moodstocks' site, monthly recurring users can access the services until their subscriptions end.