investment


SoftBank Fund Is Said to Seek Investment in Chinese AI Giant

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SoftBank Vision Fund is seeking to invest almost $1 billion in China's SenseTime Group Ltd. as it seeks a stake in the world's most valuable artificial intelligence startup, people familiar with the matter said. The fund, created by SoftBank Group Corp., and SenseTime are still finalizing terms of the deal and the details could still change, the people said, asking not to be identified as the details are private. The company has already announced two other funding rounds this year as it raised more than $1.2 billion. SenseTime, a four-year-old startup, makes systems that analyze faces and images on a huge scale and contributes to China's vast surveillance system. The company is one of a host of local startups at the forefront of Beijing's goal of making the country the world leader in AI by 2030.


Forbes and Intel Launch "Forbes AI" To Help Lead Global Conversation on Artificial Intelligence

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A Dynamic, Six-Issue Digital Publication, "Forbes AI" Comes to Life Across All Platforms And Is Powered by Forbes Insights' Proprietary Research NEW YORK (July 18, 2018) – Forbes, the defining voice of entrepreneurial capitalism, in partnership with Intel Corporation, today introduced "Forbes AI," a series of dynamic digital and print publications that examine how artificial intelligence (AI) is changing global business, sparking new industries and reshaping society at large. Powered by Forbes Insights, the company's proprietary research-based, thought-leadership practice, Forbes AI is a year-long endeavor to convene and curate expert voices who are leading the global conversation around AI and its future applications. The dynamic publication – which comes to life across Forbes' digital, social, video, LIVE events and print platforms – debuts today with 19 insightful stories featuring perspectives from AI pioneer and Facebook executive Yann LeCun, Chief Algorithms Officer at Stitch Fix Eric Colson, VP of Microsoft AI and Research Division Lili Cheng, Principal at Emergence Capital Jake Saper, Intel's VP and General Manager Naveen Rao, Forbes Publisher and Digital Futurist Rich Karlgaard, and more. Proprietary findings from Forbes Insights reveals that nearly every company (99 percent) is planning to increase their investment in AI in the next year, and that executives believe the emerging technology has the potential to create as many, if not more, jobs than it displaces. The research is based on consistent polling of more than 300 C-suite executives across nearly every industry -- auto, tech, retail, healthcare, government and more.


Cisco reveals $100m investment in UK AI

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Cisco has announced a major investment into the UK's AI scene. The networking giant has revealed a $100m (£77m) commitment that includes a new partnership with University College London (UCL) aimed at creating one of the world's largest AI research centres. The facility will house between 200 and 250 masters students and researchers looking to take on some of the biggest AI industry challenges, as well as continue Cisco's 30-year relationship with UCL. "It's wonderful to renew our partnership with Cisco and work together to upskill the UK in machine learning and artificial intelligence," said UCL provost Professor Michael Arthur. "I'm particularly looking forward to opening the new AI Centre in the coming months to position us as a sector leader in computer science."


The Tipping Point for Artificial Intelligence

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Artificial intelligence is at a critical point in its evolution. Over the last 500 years, human knowledge and intelligence has originated from evolution, experience, culture, and computers. In the not-so-distant future, most of the knowledge in the world is going to be extracted by machines and will reside in machines. At this point, you might be imagining a future full of Terminators and I, Robot, but that's a long, long way off from where we are today. Coined in 1956 by Dartmouth Assistant Professor, John McCarthy, "AI is a general term that refers to hardware or software that exhibits behavior which appears intelligent."


Allego Closes Strong Quarter with Record Growth and New Customers

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Customer and partner expansion and industry recognition signal rapid adoption of company's sales and learning platform together with funding led by General Catalyst Allego, the sales learning and coaching platform, today announced the close of a strong quarter, in which the company added key new customers, renewed 100 percent of its existing customer base and garnered solid industry recognition for its mobile-friendly sales learning platform. Allego also announced it has closed a $7.5M investment led by General Catalyst. "Partnering with visionary sales and training leaders and our team's focus on ensuring their success continued to drive great results for both Allego and our customers in the first half of 2018" "Partnering with visionary sales and training leaders and our team's focus on ensuring their success continued to drive great results for both Allego and our customers in the first half of 2018," said Yuchun Lee, CEO and co-founder of Allego. "We're excited to see the modern learning paradigm -- characterized by easily created and absorbed content, provided continuously and in bite-sized pieces, with reinforcement and support for informal learning -- rapidly gaining traction across sales training and corporate L&D." As it has since inception, Allego continues to fund its growth through positive operating cash flow.


Cisco invests $100m into UK AI sector

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In an effort to help drive digital innovation in the UK, Cisco has announced a $100m investment in the country's growing AI scene. The networking giant will partner with University College London (UCL) to open one of the world's largest research centres for AI which will house over 200 UCL academics and researchers. The new centre will also aid in developing the UK's AI talent pool. Prime Minister Theresa May and digital secretary Jeremy Wright have both backed Cisco's initiative which will operate alongside the government's own industrial strategy. Cisco's chairman and chief executive, Chuck Robbins explained the firm's reasoning behind its investment in the UK's AI sector, saying: "We believe that the UK's expertise in AI and its commitment to making sure future innovators have the right digital skills will help ensure the nation's citizens are well-positioned to capture the opportunity ahead."


How Digital Twins Can Optimize Technology Investments

Forbes Technology

In our previous story on digital twins, we pointed out why they should be an industrial CEO's best friend, as they deepen the instrumentation and understanding an executive can have of the business. This allows companies to both identify risks and make better judgments about what will happen in the future. That insight is important not only to operational efficiency but also regarding how companies can best allocate the money they're spending to improve their environment. In this piece, I again talk to GE Digital's John Renick about the way that a CEO and a CFO can be much more confident they're spending money in the right place during their digital transformation journey because the information from their digital twins guides them in investment allocation decisions. Many companies use digital twins to drive improved operational efficiency in large industrial environments.


Health care bots are only as good as the data and doctors they learn from

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The number of tech companies pursuing health care seems to have reached an all-time high: Google, Amazon, Apple, and IBM's Watson all want to change health care using artificial intelligence. IBM has even rebranded its health offering as "Watson Health -- Cognitive Healthcare Solutions." Although technologies from these giants show great promise, the question of whether effective health care AI already exists or whether it is still a dream remains. As a physician, I believe that in order to understand what is artificially intelligent in health care, you have to first define what it means to be intelligent in health care. Consider the Turing test, a point when a machine becomes indistinguishable from a human.


How US Retail Giant Kroger Is Using AI And Robots To Prepare For The 4th Industrial Revolution

Forbes Technology

Kroger, one of America's largest grocery chains, has decided to embrace technology to help it survive and thrive in the 4th industrial revolution. With 2,782 grocery stores under nearly two dozen names in 35 states, Kroger plans to leverage its data, shopper insights and scale to help it remain a leader in the marketplace of the future. According to a study by the Food Marketing Institute, online grocery is expected to account for 20% of all grocery retail by 2022 and reach $100 billion in consumer sales, so Kroger and its competitors are smart to figure out ways to use technology to their advantage. In the fall of 2017, Kroger unveiled an audacious three-year $9 billion plan called Restock Kroger with the goal to build out its e-commerce, digital and omnichannel businesses and redefine the customer experience. The grocer already delivers 3 billion personalized recommendations each year, but they will enhance the personalization efforts to "create different experiences for customers."


Artificial Intelligence: can it be used to make you money?

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Something I am really passionate about is technology. And how we can use technology to make our everyday lives much easier. Something I (and I think a lot of people) struggle with is knowing how much to save and where to put your money. In this article, I am going to give an overview of a few companies who are exploiting technology to help with all things savings. I am going to separate this post into two categories – saving money and earning interest.