In a statement, Zurich said that the acquisition would "further enhance" its digital capabilities and help it create "a consistent and efficient approach to developing intelligent virtual assistants across businesses, for both internal and external purposes." "Technology is playing a critical role in advancing Zurich's customer-focused strategy by differentiating the offering, improving the customer experience, and streamlining interactions," Zurich said in its statement. "Conversational AI is central to meeting increasing demand from customers for personalized products and services that are available around the clock." "We have spent decades to learn how to communicate with computers through different programming languages," said Ericson Chan, group information and digital officer at Zurich. "Now it is time for computers to learn how to have a personal conversation with all of us. Natural language processing is key to further enhance customer experience, complementing human interaction in the most natural way. We are very pleased to have AlphaChat join Zurich to help us further advance our digital transformation."

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.

QBE Insurance Group Limited (QBE) is taking advantage of artificial intelligence (AI) to enhance its operations globally. The firm has partnered with machine learning company HyperScience, entering into a multi-year commercial use agreement to roll out the latter's solutions across QBE. In addition, its venture capital arm QBE Ventures has closed an investment into the AI start-up. Financial details of the investment – the third made by QBE Ventures since its launch last year – were not disclosed. HyperScience's technology allows firms to facilitate straight-through processing and achieve faster customer response times, as well as "unlock" data within static and unsearchable documents.

Niki.ai, a Ratan Tata-backed artificial intelligence start-up, has lined up 10 new services including in banking, insurance, stockbroking, healthcare and e-tailing to get ahead of its Indian competitors like Arya.ai and Snapshopr, Nitin Babel, director and co-founder said. "We are already providing 15 services for sectors such as aviation, entertainment and ride industry," Mr. Babel said in an interview. "The 10 new services will be rolled out during next year." Its product, named Niki, is a bot that lets users order anything through a chat interface. The start-up leverages natural language processing and machine learning technologies to converse with customers over a chat interface and places their orders.

Ford will invest $1 billion over five years in an artificial intelligence startup with the aim of developing an autonomous vehicle by 2021, the auto giant said. Ford will take a majority stake in Argo AI, an artificial intelligence company based in Pittsburgh, started in late 2016 by former Google and Uber employees who had worked on autonomous driving. The venture will employ leading engineers and "roboticists" to develop a "virtual driver" system, described by Ford officials as the "brain" of an autonomous vehicle. The setup is intended to give Ford a head start on competitors in the race to commercialise autonomous vehicles, said Ford executive vice president Raj Nair. "This is really unique in the industry," Nair said on a conference call with analysts.

One of the oldest automakers in the United States is making a billion-dollar bet that one day, owning a car may not be a necessity of American life. Ford Motor announced on Friday its plans to invest $1 billion over the next five years in Argo AI, an artificial intelligence start-up formed in December that is focused on developing autonomous vehicle technology. The move is Ford's biggest effort to move into self-driving car research. Argo AI will develop the technology exclusively for Ford at first, and then plans to license its technology to others. The investment is also a way for Ford, which is more than century old, to tap into Silicon Valley talent and make headway in a competitive space.