Intel CEO Brian Krzanich said in an op-ed Monday that the company has invested more than $1 billion in business that are advancing the field of artificial intelligence. The investments have come through the Intel Capital investment fund and include financing for a number of AI startups, including Data Robot, Mighty AI, and Lumiata. Intel is making strategic investments spanning technology, R&D and partnerships with business, government, academia and community groups. That deal closed last month and Intel is already working on a fleet of level 4 autonomous vehicles using Mobileye's computer vision, sensor fusion, mapping, machine learning, and AI technology.
The funding round was led by US venture capital firm Rethink Impact. Swedish fintech firm iZettle says it will receive €30 million in debt funding from the European Investment Bank (EIB) in the coming three years. The EIB financing will support iZettle in four business areas: development of payments infrastructure; insights and actions through machine learning and artificial intelligence (AI); digitalisation of commerce processes; and scaling legislative and compliance systems. It has also reached a "landmark milestone" (one of those is enough I think) of providing £1.5 billion funding to UK businesses.
Salesforce said Tuesday that the $50 million would go into setting up the Salesforce AI Innovation Fund, which, as the company put it, is dedicated to "bringing AI to every step of the sales cycle, from building pipeline and closing deals, to growing the business." Chief Executive Brian Krzanich himself said Intel has put more than $1 billion into AI companies through its Intel Capital investment division. And even as median home prices are up across all the Bay Area counties, nowhere have they gone up more than in Santa Clara County, where the median home price of $1.15 million has risen 17.9 percent from a year ago. What a Day it Was: That pretty much sums up how Apple Chief Executive Tim Cook described last week's debut of the iPhone X and ARKit, the new Apple augmented reality platform that will be part of the new iOS 11 release.
Swedish payment terminal company iZettle has won €30 million (£26.6 million) in funding from the European Investment Bank (EIB) to explore artificial intelligence (AI) and machine learning for small businesses. AI and machine learning knowledge and technology are often geared towards big companies, and small businesses don't usually have the funds to develop solutions tailored to their needs. To tackle this problem, Stockholm-based iZettle plans to invest in research and development over the next three years, specifically to benefit smaller businesses. In January, it announced having raised €60 million (£53.2 million) to fund further growth, and said in July it was signing up 1,000 new businesses per day.
William Bao Bean, general partner at early stage venture capital firm SOSV, said at a panel at the Singapore Week of Innovation and Technology that significant sums of money were flowing into AI. Others include ride-hailing company Didi Chuxing, on-demand services provider Meituan-Dianping and speech and language recognition firm iFlytek. At SOSV, Bao Bean is also the managing director of a Shanghai-based accelerator program called Chinaccelerator that helps global start-ups enter the Chinese market and Chinese firms go abroad. Bao Bean also said at a CNBC panel on Monday afternoon that start-ups planning to enter the Chinese market needed to rethink their products and services.
Intel CEO Brian Krzanich said in an op-ed Monday that the company has invested more than $1 billion in business that are advancing the field of artificial intelligence. The investments have come through the Intel Capital investment fund and include financing for a number of AI startups, including Data Robot, Mighty AI, and Lumiata. Intel has also established a dedicated AI group led by Naveen Rao, former CEO of Nervana, as well as an AI lab for advanced research and development. That deal closed last month and Intel is already working on a fleet of level 4 autonomous vehicles using Mobileye's computer vision, sensor fusion, mapping, machine learning, and AI technology.
Octopus Ventures started working with Swiftkey in 2010 when the AI application of natural language was a little-known area of research. The firm received investment from several sources, including technology venture capitalist IQ Capital, AI/machine learning specialist and technology investors Amadeus Capital Partners and a number of technology investors including Laurence Garrett (Highland Capital Europe), Cambridge professor Ted Briscoe, a specialist in Natural Language Processing as well as co-founders of CSR, and former executive chairman at SwiftKey Richard Gibson. According to CB Insights, nearly 140 private companies working to advance artificial intelligence technologies have been acquired since 2011, with over 40 acquisitions taking place in 2016 alone. First, with the huge amount of interest from global corporates across all industries for AI experts and very deep pockets to offer attractive salaries, some tech and market commentators fear this could lead to a brain-drain of AI talent for start-ups, which could present as a long term challenge.
This includes Big Data, machine learning and artificial intelligence companies, as well as startups where data is the "secret sauce" or the core competitive moat I very actively invest in the space through companies like ActionIQ, Dataiku, x.ai, Sense360 and HyperScience. I also blog extensively on those topics and run Data Driven NYC, a big community of 14,000 Big Data and AI enthusiasts. Sure, I'm told people internally at Salesforce freaked out a little bit when Marc Benioff made all those big claims about Einstein [Salesforce's new AI] last year, but part of it comes with the territory of big personalities. They're very active on the investment front through Salesforce Ventures, and Marc Benioff has personally invested in all these different startups that leverage machine learning.
Capabilities like voice recognition, natural-language processing (NLP), image processing and others benefit from advances in big data processing and advanced analytical methods such as machine learning and deep learning. These skills include technical knowledge in specific AI technologies, data science, maintaining quality data, problem domain expertise, and skills to monitor, maintain and govern the environment. Capabilities like voice recognition, natural-language processing (NLP), image processing and others benefit from advances in big data processing and advanced analytical methods such as machine learning and deep learning. These skills include technical knowledge in specific AI technologies, data science, maintaining quality data, problem domain expertise, and skills to monitor, maintain and govern the environment.
Advancements in AI over the last decade are presenting opportunities for companies to automate business processes, transform customer experiences, and differentiate products offerings. These advances have led to breakthroughs in natural language processing (Apple's Siri, Google Translate), recommender systems (Amazon's recommendation engine, Pandora), and image recognition (diagnosis tools, self-driving cars). AI companies range from those focusing on developing core AI technologies to those building AI tools for solving industry-specific problems. Driving AI into core product and services offerings creates competitive differentiation.