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) …
In a venture capital firm, you want different talents that will enrich the investing team, such as a person from industry, say, mixed with people from the finance world, and perhaps people with a legal or public policy background. You may even want an automaton that crunches numbers. "Motherbrain" is the name that Henrik Landgren, operating partner, and his colleagues at venture capital firm EQT Ventures have given to the computer program that they increasingly turn to in order to get an early read on potential investments. Motherbrain uses convolutional neural networks, or CNNs, the most popular form of machine learning, to review time-series data about companies to help guide where the firm should invest. The technology has seriously improved EQT Ventures's ability to scope out deals early in the pipeline, Landgren said in an interview with ZDNet.
A London-based venture capital firm that uses artificial intelligence to find promising start-ups across Europe said on Tuesday it had raised 53 million euros ($60 million) for its biggest fund to date. InReach Ventures was founded by Roberto Bonanzinga and John Mesrie, both previously at Balderton Capital, and Ben Smith, formerly at Microsoft's teamworking tool Yammer. InReach has spent three years developing its own proprietary AI technology to discover, evaluate and support its investments. Bonanzinga said European start-ups were scattered across the continent, meaning that many early stage companies did not come to the attention of firms based in major cities like London. He said InReach Ventures was using AI to sift through and evaluate data, for example from blogposts and similar sources, to identify early-stage companies looking for their first institutional investor.
FRAMINGHAM, Mass., July 2, 2018 – International Data Corporation (IDC) today published an IDC Innovators report profiling five technology providers that are considered key emerging vendors in the conversational AI platforms market. The five companies named as IDC Innovators are Personetics, Kore.ai, Conversational AI platforms are used to build applications that answer questions, provide advice and/or recommendations using natural language processing and other dialog related technologies. The market for intelligent conversational assistance is growing rapidly, fueled by the use and acceptance of consumer tools like Google Assistant, Apple's Siri, and Amazon's Alexa. To date, there are dozens of supplier companies seeking to address these emerging interface opportunities with new companies emerging in the marketplace every day.
SAN FRANCISCO – Danhua Capital has invested in some of Silicon Valley's most promising startups in areas like drones, artificial intelligence and cybersecurity. The venture capital firm is based just outside Stanford University, the epicenter of U.S. technology entrepreneurship. Yet it was also established and funded with help from the Chinese government. And it is not alone. More than 20 Silicon Valley venture capital firms have close ties to a Chinese government fund or state-owned entity, according to interviews with venture capital sources and publicly available information.
LG Group has reportedly set up a venture capital firm in Silicon Valley in a move to find emerging startups that focus on robotics, artificial intelligence and auto parts. On Monday, the holding company of the conglomerate, LG Corp., announced that the VC firm, named LG Technology Ventures, will manage a $400 million fund. The funding for the new firm is said to have come from four affiliates, namely: LG Electronics, LG Display, LG Chem and South Korea-based cellular carrier LG Uplus, The Investor first reported. "The newly established unit is aimed at finding new business opportunities, and startups to acquire," an LG official, who refused to be named, said of the company's latest venture. It was revealed that the VC firm is eager to invest in technology areas that are expected to flourish in the coming years.
Too often the answer to this question resembles the plot of a sci-fi thriller. People worry that developments in A.I. will bring about the "singularity" -- that point in history when A.I. surpasses human intelligence, leading to an unimaginable revolution in human affairs. Or they wonder whether instead of our controlling artificial intelligence, it will control us, turning us, in effect, into cyborgs. These are interesting issues to contemplate, but they are not pressing. They concern situations that may not arise for hundreds of years, if ever.
The rise of artificial intelligence (AI) has, for the last couple of years, dominated headlines as technologies associated with AI advance and appetite grows exponentially for AI products. Key market players in industries too many to mention are looking towards AI innovation to stay ahead of their competitors and gain market share, seeing AI as the catalyst for success. This appetite only serves to make AI start-ups a more attractive proposition to the global VC community. AI spending is forecasted to grow from $640m in 2016 to $37bn by 2025, according to market research firm Tractica. Tractica's research director, Aditya Kaul, told website Datanami that cases like image recognition, algorithmic securities trading and healthcare patient data management, "have huge scale potential", as well as in areas such as business services, consumer products, industry (industrial robotics), advertising, finance, media and defence.