Goldman Sachs has hired a senior employee from Amazon to run the bank's artificial-intelligence efforts. Charles Elkan has joined Goldman Sachs as a managing director leading the firm's machine learning and AI strategies, according to an internal memo viewed by Business Insider. Elkan comes from Amazon, where he was responsible for the Artificial Intelligence Laboratory at Amazon Web Services, according to the memo. He previously led the retailing giant's Seattle-based central machine-learning team. "In this role, Charles will build and lead a center of excellence to drive machine learning and artificial intelligence strategy and automation, "Elisha Wiesel, Goldman Sachs' chief information officer, wrote in the memo.

Intel Corp. INTC, 1.36% said it would acquire Movidius Ltd., a maker of semiconductors for drones and other autonomous machines, a move that would bolster Intel's artificial intelligence portfolio amid its desire to become a bigger player in the space. Summit Bridge Capital, ARCH Venture Partners and Sunny Optical Technology Group became investors in Movidius through a 40 million financing round in April 2015. Atlantic Bridge Capital, AIB Seed Capital Fund, Capital-E, DFJ Esprit and Robert Bosch Venture Capital invested earlier. Terms of the transaction weren't disclosed. The deal, subject to certain closing conditions, was announced in blog posts Monday.