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) …
Interest and activity around communications and networking solutions that leverage artificial intelligence and machine learning to enable agility and greater efficiency continues to build. That's why TMC is launching three new AI-focused events under the banner of The New Intelligence. This table lays out the details of these events. And the below briefs highlight some recent industry AI developments. In its new IT Operations Readiness Index, Cisco looks at where the more than 1,500 senior IT leaders it surveyed are in their IT operational transformation journeys.
BURNHAM, United Kingdom--(BUSINESS WIRE)--Oct 22, 2018--Large-scale organisations are becoming increasingly open about the implementation of artificial intelligence (AI), robotic and automation technologies, according to research announced today by Redwood Software. Analysing the 2017/2018 annual reports of all 100 publically listed companies, 39 per cent mentioned the use of automation across the business, 34 per cent cited AI and 21 per cent of the reports nodded to the use of robotics. In comparison to last year's results, mentions of robotics were up 162 per cent, while references to AI more than tripled, highlighting a 386 per cent increase year-on-year. While all three technologies were raised across the reports for a variety of reasons, insurance company Aviva said it was looking to both AI and robotic automation to increasingly transform the efficiency of operations, as well as transform the customer experience. Meanwhile, online British supermarket Ocado mentioned AI, robotics and automation are helping drive innovation and create a sustainable technological advantage in an increasingly competitive market.
Synthetic Minds, which aims to build safer blockchain code, today announced it has raised $5.5 million in a new round of funding. The San Francisco startup is a graduate of the most recent summer class from the Y Combinator accelerator. The money came from Khosla Ventures and Pantera Capital (a cryptocurrency-focused fund). This funding comes on the heels of investment from Y Combinator. Synthetic Minds' core technology is called program synthesis.
Ericsson is also looking towards artificial intelligence (AI) and automation to push its business, as the company reported 54 billion Swedish kronor (SEK) (almost $6 billion) in net sales for the third quarter, up from 49 billion SEK in the same quarter last year. Cost of sales for the quarter was 34 billion SEK, down from 36 billion SEK this time last year, while research and development (R&D) expenses were down from 10.5 billion SEK to 9.4 billion SEK. Opex was 16 billion SEK, down from 17 billion SEK. Total net income for the quarter was 2.6 billion SEK, an improvement on the 3.5 billion SEK loss this time last year, with net sales in its Networks division up by 13 percent year on year to 35.9 billion SEK. Across Networks, products were up by 17 percent to 25 billion SEK and services rose by 5 percent to 10.6 billion SEK.
Base10 Partners today announced the launch of a $137 million fund to invest in early-stage startups that will use AI to change industries by empowering workers instead of automating them out of jobs. The prime directive of the debut fund will be to back companies in industries like real estate, construction, waste management, and logistics -- what managing partner Adeyemi Ajao calls "automation for the real economy" and "solving problems for 99 percent of people." Base10 Partners was created in 2017 by Ajao and cofounder TJ Nahigian, a company spokesperson told VentureBeat in an email. With Ajao as managing director, Base10 is one of the first venture-backed funds with a black managing director to raise more than $100 million in its first fund. Prominent investment funds recently created by people of African descent include the $100 million New Voices Fund from Richelieu Dennis and Arlan Hamilton's Backstage Capital, which raised $36 million earlier this year to back underrepresented founders, particularly black women.
They were all founded in 2005 or earlier, but it wasn't until the past few years that they took off after hitting on their current business automating simple back-office tasks and dubbing it "robotic process automation." UiPath on Monday completed a new funding round at a $3 billion valuation, said a person familiar with the process, six months after a prior round valued it at $1.1 billion. In July, rival Automation Anywhere raised its first round of financing at a $1.8 billion valuation. Shares in Blue Prism, a public company in the U.K., have risen nearly 30 times since they were listed in March 2016. It raised about $60 million in a secondary share sale in January.
Digitate announced that it has achieved significant annual growth in both customer acquisition and revenue. The growth is due to increase in adoption of its award-winning cognitive automation product, ignio, helping enterprises dealing with IT to rapidly identify and remediate outages in minutes. According to the Economic Times of India post, the ignio, AI platform delivered $31M to TCS. According to the press release, CEO, and MD, Tata Consultancy Services, Rajesh Gopinathan, said, "Rapid breakthroughs in digital technologies – such as artificial intelligence, machine learning and automation – are reshaping businesses and fostering creative disruptions. The revenue and customer growth for ignio has been over 100% y-o-y.
Robots in factories have historically been unwieldy, dangerous, and confined to large industrial settings. But now, smaller collaborative robots are overcoming traditional challenges in the robotics industry. They're paving the way for robot technology that gets us much closer to our Jetsons-like future. When George C. Devol, inventor of the automatic garage door opener, pitched his programmable Unimate arm, he was initially met with skepticism. However, "the robot had one advantage immediately," said Devol. "And that is that a robot can work three shifts, or 24 hours a day." Get the free data-driven report to see how robots are revolutionizing factories and manufacturing.
It was the eighth-largest private employer in the US at the end of 2016, and it's poised to climb those ranks quickly. The online retailer also announced plans to build a second US headquarters that will employ 50,000 employees. But Amazon's growth comes at a cost. It has a well-earned reputation for overwhelming competitors. Even though Amazon represents a small portion of the overall retail industry, it dominates the industry's sales growth.