Salesforce launches $50 million fund for AI startups

Salesforce's investment arm is launching a $50 million fund to invest in AI-focused startups. Salesforce Ventures, the investment arm of cloud-computing giant Salesforce, is launching a $50 million fund to invest in startups focused on artificial intelligence, according to Reuters. Salesforce has been working more and more with artificial intelligence (AI) through its Salesforce Einstein tool, which marks its first year on Tuesday. More than 7,000 developers are building AI apps with Einstein, according to Matt Garratt, vice president of Salesforce Ventures. Interest in AI has been rising across the tech industry. According to CB Insights, deals tied to AI startups increased from 150 in 2012 to 698 in 2016.