Google Unveils an AI Investment Fund. It's Betting on an App Store for Algorithms.

Google just placed yet another bet on the idea that artificial intelligence will remake the world--and throw off wild profits. The company disclosed today that it has created a new venture fund dedicated to investing in AI and machine learning companies. The initiative's first public investment: lead investor in a $10.5 million funding round for Seattle startup Algorithmia, which has built a kind of app store for algorithms. The service aims to make it easier for any company to use machine learning. Google wouldn't make anyone available to talk about its new fund, which doesn't yet have a name, or disclose its size.