press release


This Week In AI: Algolia Raises $110M, OpenAI Debuts Rubik's Cube Solving Bot, Kleiner Perkins Backs Cell Therapy Startup - CB Insights Research

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Medical data analytics startup Healx raised $56M from Atomico and others. Standard Cognition patented an inventory management system. Here's what went down in artificial intelligence this week. Become a CB Insights customer. If you're already a customer, log in here.


Assam Company India To Use AI And Smart Drones For Tea Farming IndianWeb2.com

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The Assam Company India Ltd on Friday said it is aiming to increase its output by nearly fivefold to 50 million kg within next five years with introduction of advanced technologies. The company acquired by Abu Dhabi-based BRS Ventures a year ago and currently has 15 tea gardens, is looking to utilise artificial intelligence, including smart drones, in the field of tea farming to achieve its target. "Our aim is to bring technology and innovation at the forefront of the tea industry. This will not only impact the lives of 26,000 farmers at our estates, but the entire workforce employed in the tea sector across the country," BRS Ventures Chairman B R Shetty said at a press conference here. The company is optimistic that focus on enhancing the lives of the farmers and upgrading the production facilities by optimizing efficiencies will see a remarkable change in the Indian tea industry in the days to come, he added.


Cognex Acquires SUALAB to Enhance Deep Learning Solutions

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Cognex CGNX recently announced the acquisition of Seoul-based SUALAB, a developer of deep learning-based vision software. Although the financial terms of the acquisition have been kept under wraps, per a Pulse article the transaction price is estimated to be $168.6 million. Deep learning allows Cognex to solve the most complex vision application operations in factories faster, easier and in a cost-effective manner. The addition of SUALAB's Intellectual property and highly skillful engineering team, which specializes in deep learning, is expected to strengthen the company's product portfolio. The latest acquisition will help Cognex to reap benefits from strong prospects of the global deep learning system software market.


Babson Named Education Sponsor For AI World Conference & Expo 2019

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For the third consecutive year Babson College has been named an education sponsor for AI World Conference and Expo 2019. The event will run October 23-25, 2019, at Seaport World Trade Center, Boston. This year's event will feature a significant expansion of content coverage, including new topics AI in Customer Analytics, AI and Cybersecurity, and AI for Business Leaders. Now in its fourth year, AI World Conference and Expo has become the industry's largest independent business event focused on the state of the practice of AI in the enterprise. The AI World three-day program delivers a comprehensive spectrum of content, networking, and business development opportunities, all designed to help individuals cut through the hype and navigate through the complex landscape of AI business solutions.


A look at Intel's big-picture AI on 7nm

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Intel's third quarter earnings report comes out on Oct. 24, but some industry experts have set their sights on years down the line to when investments in artificial intelligence could begin to pay off. "In three-plus years, the real competition will be in AI and machine learning-related systems," said Jack Gold, an analyst at J. Gold Associates, in an email to FierceElectronics. "That means if you're a semi company, it's where you need to have viable products going forward." Some analysts have focused heavily on Intel's competition with AMD and Nvidia for performance in the graphics space, often on a PC or workstation. AMD is growing much faster than Intel, but still has less than one-tenth the revenues.


Lucd Partners with AI Satellitez to improve customer experience for model creation in the Enterprise

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Lucd, an Enterprise AI platform and solution services company, today announced it has partnered with AI Satellitez, whose mission is to provide artificial intelligence and machine learning models to businesses to optimize their operations. Lucd's Enterprise Artificial Intelligence platform provides digital transformation through the responsible use of data. Utilizing intellectual property combined with leading technologies and tools to form a complete open platform, Lucd enables all businesses to take advantage of the fast-moving AI market to gain a competitive advantage. "At Lucd, we are excited about our partnership with AI Satellitez as they provide best in class model creation capabilities that enhance the customer experience, driving business transformation with unique use cases for our customers," said John Leschorn, COO and Co-Founder at Lucd. "AI Satellitez is excited to partner with Lucd as they offer the best in class platform to run custom Machine Learning and Data Analytics models that we build for our clients. Their unique offer of a secure and compliant platform for our customers to store data and run models is a competitive advantage for us all," said Sam Reagin, VP of Sales for AI Satellitez.


Novartis and Microsoft announce collaboration to transform medicine with artificial intelligence

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Disclaimer This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 that can generally be identified by words such as "to transform," "multiyear," "commitment," "to found," "aims," "vision," "potential," "can," "will," "plan," "expect," "anticipate," "committed," or similar terms, or regarding the development or adoption of potentially transformational technologies and business models and the collaboration with Microsoft; or by express or implied discussions regarding potential marketing approvals, new indications or labeling for the healthcare products described in this press release, or regarding potential future revenues from collaboration with Microsoft or such products. You should not place undue reliance on these statements. Such forward-looking statements are based on our current beliefs and expectations regarding future events, and are subject to significant known and unknown risks and uncertainties. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those set forth in the forward-looking statements. There can be no guarantee that the collaboration with Microsoft will achieve any or all of its intended goals or objectives, or in any particular time frame.


Abu Dhabi unveils world's first Artificial Intelligence university

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ABU DHABI -- The capital of the United Arab Emirates (UAE) has announced the launch of the world's first university dedicated to artificial intelligence, in a bid to stay ahead of the disruptive technologies and diversify its economy from the reliance on oil. Named after the Crown Prince of Abu Dhabi and de facto leader of the UAE who has long championed science and technology development in UAE, Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) will offer academic post-graduate (MSc and PhD) courses in three key fields of AI – computer vision, machine learning and natural language processing – with access to some of the world's most advanced AI systems to unleash its full potentials. All graduate-level students admitted to the school will be eligible for a full scholarship along with several benefits such as a monthly allowance, accommodation arrangements and health insurance. The first class of graduate students is scheduled to start coursework at MBZUAI campus in Masdar City, a new urban area in Abu Dhabi, in September 2020. "MBZUAI aligns with the vision of the UAE leadership that is based on sustainable development, progress and the overall well-being of humanity and underpinned by capacity-building and active participation in finding practical solutions based on innovation and state-of-the-art technology," said Dr. Sultan Ahmed Al Jaber, UAE Minister of State, who also served as Chair of the university's Board of Trustees, at the press conference in Abu Dhabi.


IDC Expects Asia/Pacific* Artificial Intelligence Systems Spending to Reach USD 6.2 Billion in 2019

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SINGAPORE, October 18th, 2019 – Asia/Pacific* spending on artificial intelligence (AI) systems will reach USD 6.2 billion in 2019, recording an increase of almost 54% when compared to 2018, according to the latest IDC Worldwide Semiannual Artificial Intelligence Systems Spending Guide. Evidently, as industries invest aggressively in projects that utilize AI software capabilities, IDC expects spending on AI systems will increase to USD 21.4 billion by 2023 with a compound annual growth rate (CAGR) of 39.6% over the 2018-23 forecast period. From providing chat bots for better customer service to improve the efficiency of operations and tasks for their business models, industries like Banking, Retail and professional services are spending in this technology at scale says," Ritika Srivastava, Associate Market Analyst at IDC Asia/Pacific. In 2019, Asia/Pacific* spending on AI systems will be led by the Banking industry with 10.7% share of the total, followed by retail with a 10.2% share.


Autify Raises $2.5M For Its AI-Based Software Testing Automation

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Autify, a Japanese software testing team backed by Alchemist Accelerator graduation, has raised a seed funding of USD 2.5M by Global Brain Corporation, Salesforce Ventures, Archetype Ventures, and other individual investors. Autify has launched its AI-powered software testing automation platform, globally. Including this round and the pre-seed funding, the total capital reached USD 3.07 million. The Japanese software team founded Locki Inc. in 2016. In 2018 the startup selected for the Alchemist Accelerator program in the US.