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Phenom People raises $30 million for AI recruitment platform used by Microsoft, others

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Phenom People, a human resources (HR) platform that leverages artificial intelligence (AI) to help companies attract new talent, has raised $30 million in a series C round of funding led by WestBridge Capital, with participation from eBay founder Pierre Omidyar's VC firm Omidyar Ventures, AXA Venture Partners, Sierra Ventures, Sigma Prime Ventures, Karlani Capital, and a fund belonging to AllianceBernstein. Founded in 2010, Philadelphia-based Phenom People touts its "talent experience management" (TXM) platform as an all-in-one solution for companies looking to build career websites with personalized job and content recommendations, chatbots, and a content management system (CMS) for pushing fresh content to the site. Numerous startups are leveraging AI and automation to streamline the recruitment process, including New York-based Fetcher, which crunches data to proactively headhunt new candidates; San Francisco's Xor, which uses AI for recruitment and screening; and New York-based Pymetrics, which helps companies carry out candidate assessments through neuroscience games. Phenom People claims some 300 clients around the world, including big-name customers such as Microsoft, which uses the Phenom People platform to power its career portal. "Microsoft is an excellent example of a leading technology organization working to revolutionize candidate experience through AI-driven experiences," said Phenom People CEO and cofounder Mahe Bayireddi in an earlier statement.


Ambarella Becomes an Artificial Intelligence Stock

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"Ambarella is an artificial intelligence ("AI") company," says the first line in a recent Ambarella (AMBA) investor presentation to Morgan Stanley. More than four and a half years ago, we wrote about how Ambarella was seeing very strong revenue growth selling semiconductor processing solutions for video in four primary segments: camera-based advanced driver assistance systems (ADAS), wearable cameras like GoPro, cameras for drones, and home automation cameras. Since that article, shares of Ambarella have fallen -50% compared to a NASDAQ return of 73% over the same time frame. Fortunately, the company is being forthcoming with investors as to why the company's stock has performed so poorly. We had previously remarked how a lack of transparency into the company's financials prevented investors from seeing which of these areas were contributing to all that strong revenue growth.


How AI in ERP will create the finance team of the future

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Finance and accounting professionals are under constant pressure from the C-suite to elevate the strategic relevance of their function. At the same time, they are under day-to-day pressure to help their organizations stay ahead of audit and compliance requirements, report on financial results, and manage ongoing accounting activities. These activities are all critical for business growth. As enterprise resource planning is meant to be both the primary source of truth and technology used to perform these tasks, it can play a critical role in improving the ease and accuracy with which they are completed. Having the right ERP technology can make or break a finance team's ability to focus on the strategic instead of the tactical.


Industry News

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Find here a listing of the latest industry news in genomics, genetics, precision medicine, and beyond. Updates are provided on a monthly basis. Sign-Up for our newsletter and never miss out on the latest news and updates. As 2019 came to an end, Veritas Genetics struggled to get funding due to concerns it had previously taken money from China. It was forced to cease US operations and is in talks with potential buyers. The GenomeAsia 100K Project announced its pilot phase with hopes to tackle the underrepresentation of non-Europeans in human genetic studies and enable genetic discoveries across Asia. Veritas Genetics, the start-up that can sequence a human genome for less than $600, ceases US operations and is in talks with potential buyers Veritas Genetics ceases US operations but will continue Veritas Europe and Latin America. It had trouble raising funding due to previous China investments and is looking to be acquired. Illumina loses DNA sequencing patents The European Patent ...


Exclusive: Apple acquires Xnor.ai, edge AI spin-out from Paul Allen's AI2, for price in $200M range

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Apple has acquired Xnor.ai, a Seattle startup specializing in low-power, edge-based artificial intelligence tools, sources with knowledge of the deal told GeekWire. Speaking on condition of anonymity, sources said Apple paid an amount similar to what was paid for Turi, in the range of $200 million. Xnor.ai didn't immediately respond to our inquiries, while Apple emailed us its standard response on questions about acquisitions: "Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans." When we visited Xnor.ai's office in Seattle's Fremont neighborhood this morning, a move was clearly in progress -- presumably to Apple's Seattle offices. The arrangement suggests that Xnor's AI-enabled image recognition tools could well become standard features in future iPhones and webcams.


Apple has acquired the artificial-intelligence startup Xnor.ai for a reported $200 million

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Apple just can't get enough of AI startups, it seems. The tech giant has reportedly purchased a little-known artificial-intelligence company for about $200 million. According to GeekWire, the acquired company is a Seattle-based startup called Xnor.ai, which specializes in low-power, edge-based artificial-intelligence tools. Bloomberg confirmed the acquisition with Apple, which did not confirm the price. Apple and Xnor.ai did not immediately respond to requests for comment from Business Insider.


Zinier Raises $90 Million to Transform Field Service Workforces

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Zinier, the leader in intelligent field service automation, announced that it has raised $90 million in Series C funding to transform field service workforces with AI-driven automation. New investor ICONIQ Capital led the round with new participation from Tiger Global Management, and return investors Accel, Founders Fund, Nokia-backed NGP Capital, France-based Newfund Capital and Qualcomm Ventures LLC. The funding will support global customer adoption and expansion of Zinier's AI-driven field service automation platform, ISAC. In the past year, more than $100 million was invested in Zinier to transform the way field service work gets done. From the electricity that lights up homes to wireless connectivity that enables communication around the world, it's expected that these services work on demand.


How AI restores the public's trust in the fiscal accountability of governments

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The public's trust of governmental budgeting, fiscal management, and reporting is at an all-time low, especially in the aftermath of the 2008 financial crisis, where only four out of ten people in OECD countries expressed confidence in their government. Cases of fraud, bid-rigging, and pay-to-play are never far from the headlines, and have continued to undermine trust in the public servants and elected officials tasked to oversee the complex work of managing government finances. A large portion of this mistrust can be attributed to the struggle that government finance managers and auditors are facing in analyzing the increasing amount of financial data. Current financial control and audit techniques, including legislated audit requirements, are not able to scale to keep pace with the massive data explosion coming from their own accounting, payroll, and expense management systems. One government response to this issue, open data, enables a sense of fiscal transparency with the public but it doesn't replace the rigorous professional analysis required to identify fraud, errors, and omissions in large amounts of data.


Enterprise Artificial Intelligence Market 2020 Global Trends, Statistics, Size, Share, Regional Analysis By 2025-MRE Report

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New York, January 07, 2020: Based on Deployment, the global Enterprise Artificial Intelligence market is segmented in Cloud and On-Premises. The report also bifurcates the global Enterprise Artificial Intelligence market based on Solution in Business Intelligence, Customer Management, Sales & Marketing, Finance & Operations, Digital Commerce, and Others. The global Enterprise Artificial Intelligence market is segregated on the basis of Deployment as Cloud and On-Premises. Based on Service the global Enterprise Artificial Intelligence market is segmented in Professional Service and Managed Service. Based on End User the global Enterprise Artificial Intelligence market is segmented in Automotive, Media and Entertainment, Healthcare, Retail, IT & Telecommunication, BFSI, and Aerospace.


Apple buys an A.I. start-up that came from Microsoft co-founder Paul Allen's research lab

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Apple on Wednesday said it has acquired Xnor.ai, an artificial intelligence software start-up. The company has previously used acquisitions to expand its bench of AI talent, as have other technology companies like Alphabet, Facebook and Microsoft. These companies have all taken steps to enhance their own products with AI and offer tools to outside software developers. "Apple buys smaller technology companies from time to time and we generally do not discuss our purpose or plans," the company told CNBC in an email. GeekWire first reported the news earlier on Wednesday, saying that the deal was worth up about $200 million.