Microsoft bets on AI

On Monday, Microsoft announced a new Microsoft Ventures fund dedicated to artificial intelligence (AI) investments, according to TechCrunch. The fund, part of the company's investment arm that launched in May, will back startups developing AI technology and includes Element AI, a Montreal-based incubator that helps other companies embrace AI. The fund further supports Microsoft's focus on AI. The company has been steadily announcing major initiatives in support of the technology. For example, in September, it announced a major restructuring and formed a new group dedicated to AI products.