Element AI, a platform for companies to build AI solutions, raises $102M

The race for artificial intelligence technology is on, and while tech giants like Google and Facebook snap up top talent to build out their own AI-powered products, a new startup has just raised a huge round of funding to help the rest of us. Element AI -- a Montreal-based platform and incubator that wants to be the go-to place for any and all companies (big or small) that are building or want to include AI solutions in their businesses, but lack the talent and other resources to get started -- is announcing a mammoth Series A round of $102 million. It plans to use the funding for hiring talent, for business development, and also, to put some money where its mouth is, by selectively investing in some of the solutions that will be built within its doors. "Our goal remains to lower the barrier for entry for commercial applications in AI," said Jean-François Gagné, the CEO of Element AI, in an interview. "Everyone wants to have these capabilities, it's hard for most companies to pull it ...