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) …
Critics of the Apple and Android banking solutions are concerned about consumers being "locked-in" to the phone ecosystem once all of their banking and payment technology is concentrated in one place. Potentially this will reduce consumers' ability to easily change to another service provider, ultimately reducing market competition. Cybersecurity and fraud are (as expected) a key concern as increasing numbers of players enter the market, but security is improving with AI-driven facial recognition technology, other biometric solutions such as fingerprints, and transactions taking place on the blockchain. Security can be strengthened by requiring multi-factor authentication to prevent fraudsters from falsifying identities. Finally, banks are generally regarded as trustworthy when it comes to safeguarding and not passing on their customers' data.
Last week, Apple reportedly acquired Xnor.ai, a Seattle-based startup for $200 million. Xnor.ai is one of the few startups that's focused on delivering AI capabilities at the edge. In 2019, it made it to the Forbes AI 50: America's Most Promising Artificial Intelligence Companies. SEE: Meet The Seattle Startup That's Truly Democratizing AI for Developers Xnor.ai is a spin-out of the AI2 incubator started by late Paul Allen, one of the co-founders of Microsoft. In 2017, the company got a seed funding of $2.5 million from Madrona Ventures which doubled down its investment in 2018 with the Series A funding of $12 million.
It's been about a month since the last Apple (NASDAQ:AAPL) acquisition that investors have caught wind of (Spectral Edge, to bolster the company's computational photography). CEO Tim Cook confirmed last year that the tech titan tends to buy smaller companies every two to three weeks. Apple's latest acquisition is all about low-power edge-based artificial intelligence (AI). Here's what investors need to know. GeekWire reports that Apple has scooped up Xnor.ai, a Seattle-based start-up that specializes in on-device AI.
Apple dropped $200 million this week on a company that makes lightweight artificial intelligence. The acquisition of Xnor.ai, a Seattle startup working on low-power machine learning software and hardware, points to a key AI battleground for Apple and other tech heavyweights--packing ever-more intelligence into smartphones, smartwatches, and other smart devices that do computing on the "edge" rather that in the cloud. "Machine learning is going to happen at the edge in a big way," predicts Subhasish Mitra, a professor at Stanford who is working on low-power chips for AI. "The big question is how do you do it efficiently? That requires new hardware technology and design.
This will make this area of data science even more commonplace not only among top tech companies, but also small and medium-sized businesses across various verticals. However, one aspect which is potentially underrated when looking at the big trends, in terms of the future of data science, is around language frameworks used to make the everyday data science tasks possible. Today, there are two major frameworks, R or Python (or in more pragmatic data science circles, both!). One is praised for having the most beautifully designed data wrangling syntax and plotting libraries, the other for its expressiveness and having the best deep learning libraries available today. However, both suffer from being relatively slow as they're higher level languages.
If you've heard it once, you've heard it dozens of times: "Apple buys smaller technology companies from time to time, and we generally do not discuss our purpose or plans." When it comes to its corporate acquisitions, Cupertino likes to play its cards very close to its chest. Of course, that doesn't stop industry watchers from peering at the tea leaves to see if they can divine exactly what the company might be working on. And, hey, I'm no different than those folks, because Apple does so little to telegraph its plans that even a boilerplate statement confirming an acquisition is a rare peek behind the curtain. Apple CEO Tim Cook said not long ago that the company makes an acquisition every two to three weeks, and not even all of those make it into the public eye.
Future Apple smart speakers, like HomePod, might be much more data privacy focused. Apple has reportedly paid $200 million to acquire Seattle-based artificial intelligence company Xnor.ai, The purchase is one of many for Apple, which has become adept at vacuuming up tech startups, but it also gives us a glimpse into the company's thinking when it comes to future devices. Xnor.ai's work on hyper-efficient, low-power AI that doesn't require powerful processing or a connection to the cloud (processing locally on-device instead), neatly slots into a few areas Apple is currently working on. Whilst Apple hasn't - and doesn't typically - comment on why it acquires certain companies and how they fit into its future roadmap, we can speculate on how Xnor.ai's work fits in to the master plan.
Alphabet, the tech giant formerly known as Google, on Thursday night became the fourth company in history to reach a trillion-dollar (£776bn) valuation. In less than 24 hours, some analysts were predicting that the company, founded in a messy Silicon Valley garage 21 years ago, could double in value again to become a $2tn firm "in the near future". The consensus among Wall Street bankers is nothing can stop the runaway share price rises of Alphabet or the other so-called "Faang" tech companies. Facebook, Amazon, Apple, Netflix and Google have seen their combined market value increase by $1.3tn over the past year – that's the equivalent of adding half the value of all the companies in the FTSE 100, or the entire GDP of Mexico. "It's such a phenomenally large number that it's difficult for most of us even to quantify the value," said Paul Lee, the global head of technology research at Deloitte.
Apple acquired Seattle-based artificial intelligence company Xnor.ai, The company, founded in 2016, had raised millions of dollars to build tools that help AI algorithms run on devices rather than remote data centers. In recent years, Apple has pushed to run this type of software on its devices to keep user information more private and speed up processing. The company paid about $200 million for Xnor.ai, according to GeekWire, which reported the deal earlier. Apple didn't comment on the price, but said that it buys "smaller technology companies from time to time" and generally does not discuss its plans.
Apple reportedly spent around $200 million to purchase US artificial intelligence startup Xnor.ai, according to GeekWire. The startup's low-power, edge-based AI tools will allow Apple to add AI features to power-constrained devices, like smart cameras or phones. For instance, Xnor.ai's most notable technology is an AI-based image recognition tool that enables on-device human detection for smart home cameras. Apple will also have access to a platform created by Xnor.ai that allows software developers who aren't well-versed in AI to implement AI-related code and data libraries in their apps. Apple's Xnor.ai acquisition is just one of many it has recently made, as it aims to create more powerful and personalized AI features.