If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
As global technology has evolved over the years, we have moved from television to the internet, and today we are smoothly and gradually adapting Artificial Intelligence. The term AI was first coined by John McCarthy in 1956. It involves a lot of the main things ranging from process automation of robotics to the actual process of robotics. It has become highly popular among large enterprises today owing to the amount of data these companies are dealing in. Increase in the demand for understanding the data patterns has led to the growth in demand of AI.
Drug discovery is a hugely expensive and often frustrating process. Medicinal chemists must guess which compounds might make good medicines, using their knowledge of how a molecule's structure affects its properties. They synthesize and test countless variants, and most are failures. "Coming up with new molecules is still an art, because you have such a huge space of possibilities," says Barzilay. "It takes a long time to find good drug candidates." By speeding up this critical step, deep learning could offer far more opportunities for chemists to pursue, making drug discovery much quicker.
Baidu (NASDAQ: BIDU) is making a big push into cutting-edge IT segments. The company announced Thursday that it will be allocating more capital to investments in developing corners of the market, particularly artificial intelligence (AI), cloud computing, and data centers. This project will unfold over the next 10 years, in an attempt by the China-based company to build out assets for future tech needs. This piggybacks on the Chinese government's ambition to develop what it calls "new infrastructure" throughout the country to dramatically modernize its economy. Baidu did not specify how much it would spend on its new infrastructure efforts.
Data analytics fintech firm Galytix has secured investment for its recruitment and product development plans. There were no financial details about this post angel equity investment. The London-based firm offers an artificial intelligence platform and says it uses machine learning to ingest, curate and synthesise unstructured and structured data. Galytix CEO Raj Abrol says the company has got new board members and investors. A number will hold non-executive or advisory roles.
Artificial Intelligence (AI) and smart devices are gaining more and more traction in the manufacturing market. AI can be used to automate multiple things, and the technologies behind it keep getting better, and smarter. And combining AI with the IoT means fewer people will be required to take decisions and to execute those decisions. If things keep evolving as they have been so far, one thing is certain: the manufacturing industry will never be the same. But, how can AI and IoT affect the manufacturing job market? How can they improve it?
Artificial Intelligence is growing at a faster pace. With this faster pace, it is also attracting a series of funding and financial investments. Let's go through some of the important investments in artificial intelligence companies in June 2020. Portuguese startup Replai, which utilizes AI-driven short-videos to draw in sports fans, has brought €1.2 million up in seed financing. The round was driven by Bright Pixel, alongside Ideias Glaciares, Clever Advertising and other c-level business angels from Whatsapp, Playrix, Nekki, Aptoide, Dashdash and Unbabel.
Breed Reply, a European investor in early-stage Internet of Things (IoT) businesses, has increased its investment in Dutch agritech company, Connecterra. As part of its Series B funding round, Connecterra has secured €7.8 million from existing investors, Breed Reply and Sistema, alongside new investors including AgTech specialists ADM Capital, French food safety enterprise Kersia Group and Dutch impact investor, Pymwymic. The Series B funding round completed by Connecterra is the largest ever Series B investment raised by a European livestock tech company. The funding will be used to accelerate the development of Connecterra's predictive artificial intelligence (AI) platform, Ida. Ida is the first digital assistant for the dairy farmer, based on sensor technology, cloud computing and machine learning.
If companies were already investing in automation and AI technologies before March 2020, they have only accelerated those investments since. No one expected the jolt the COVID-19 pandemic would bring to business. With leaders looking for ways to avoid human contact, machines, software, and new processes that avoid those humans are even more imperative. That's why we've committed a whole day of our Transform 2020 digital conference to the Technology and Automation Summit, presented by collaborative data science software maker Dataiku, on July 15. Hear from industry leaders at Dataiku, Intuit, Chase, Walmart, Goldman Sachs, and more about their journeys and learnings in implementing these technologies, how they unlocked value/ROI from them, and their thoughts about what the future holds.