discuss AI (artificial intelligence) Discussion & Domains

China overtakes US in AI startup funding with a focus on facial recognition and chips

The competition between China and the US in AI development is tricky to quantify. While we do have some hard numbers, even they are open to interpretation. The latest comes from technology analysts CB Insights, which reports that China has overtaken the US in the funding of AI startups. The country accounted for 48 percent of the world’s total AI startup funding in 2017, compared to 38 percent for the US.

It’s not a straightforward victory for China, however. In terms of the volume of individual deals, the country only accounts for 9 percent of the total, while the US leads in both the total number of AI startups and total funding overall. The bottom line is that China is ahead when it comes to the dollar value of AI startup funding, which CB Insights says shows the country is “aggressively executing a thoroughly-designed vision for AI.”

China’s natural advantages in AI are well-documented. Compared to the US, it has a huge population (1.4 billion), which offers a wealth of data and opportunity for companies to scale quickly. Its AI sector also has the backing of a central government that’s able to quickly shift resources (as opposed to the missing-in-action White House), and the country’s looser approach to digital regulations means companies can experiment more freely.

Google's parent company just made its first-ever investment in an A.I. chip start-up

• GV had never invested in a start-up making processors for artificial intelligence, investor Dave Munichiello says.
• SambaNova's CEO, Rodrigo Liang, ran a team of nearly 1,000 chip designers at Oracle before co-founding the start-up.

The venture capital arm of Google-parent company Alphabet is leading a $56 million funding round in SambaNova Systems, a start-up building computer processors and software for artificial intelligence and data analytics.

Singapore's Active.Ai targets US market
Singapore-based artificial intelligence startup, Active Intelligence Pte Ltd (Active.Ai), made a significant step into the United States and Mexico by signing two important clients.

Active.Ai is an enterprise platform for financial services that helps facilitate intelligent micro-conversations. Active.Ai has raised US$11.75m from marquee investors, seen notable success enabling India’s top-tier banks, including four of the country’s largest, as well as insurance companies in Malaysia, Singapore, Thailand, and the Philippines. Its financial services have spanned into other verticals like wealth management and securities trading.

On the heels of launching projects with Axis Bank and CIMB Bank, Active.Ai now has its sights set on the North American market. The 24-month-old company has already established a strong foothold, having secured two new clients in the region.

Percipient.ai Closes Series A Funding Round
Percipient.ai, a Reston, VA and Sunnyvale, Calif.-based provider of advanced analytics for national security and now corporate security missions, announced the first closing of its $14.7M Series A funding.

The round, led by Venrock, valued the company at $58.5M.

In conjunction with the funding, Nick Beim, a partner at Venrock and investor in machine learning with experience in both the government and corporate security markets, will join Percipient.ai’s board.

Led by Balan Ayyar, Founder and CEO, and Raj Shah, co-founder and Chief Product Officer, Percipient.ai provides a machine learning and computer vision platform for mission-critical security needs to accelerate and elevate the analysis of unstructured data at speed and scale.

Giant global funds, such as SoftBank in Japan, are borrowing huge amounts to swallow up Europe’s robotic and AI firms
SoftBank’s founder and CEO Masayoshi Son told Nikkei in October that new Vision Funds will be launched every two to three years. SoftBank wants to invest in 1,000 AI and robotics companies in the next decade to the tune of ¥100 trillion ($880bn). Who would provide that money? Well, Saudi Arabia wants to use the initial public offering of the oil giant Aramco – potentially worth $2 trillion – to boost its sovereign wealth fund.

Betterhalf.AI uses predictive analysis to help professionals find a match through compatibility scores based on relationship dimensions and their interactions on the product.

Exclusive: Top Hedge Fund Manager Philippe Laffont Says A.I. Will Transform Intel And Twitter

Artificial intelligence technology is turning around semiconductor giant Intel INTC +0.77% after a fifteen year stretch of underperformance and it could help TwitterTWTR +0.64% become a $100 billion-to-$200 billion company within the next decade, according to top performing hedge fund manager Philippe Laffont of Coatue Management.

Laffont, who spoke at Forbes and Shook Research's Top Advisors Summit in Las Vegas on Wednesday, urged a crowd of hundreds of rainmakers who manage well over $500 billion collectively to pay attention to A.I. and the stocks where it is altering their business.

“If you leave with one takeaway today it is that you must have various aspects of your portfolio, your investments, and your conversations with your clients talking about A.I. It is the absolutely most interesting and biggest trend since the internet," Laffont said.

Woebot Labs, a mental health artificial intelligence platform, just landed $8 million in Series A funding with New Enterprise Associates leading and Andrew Ng’s AI Fund participating.

The new app, which launched in February, is a cross between a therapist and a friend. Woebot customers can use the messaging function on the app—just like using Google Hangouts or Apple's iMessage, but instead of a person at the other end of the messages, it's an artificial intelligence programmed to help users talk through their mental health using cognitive behavioral therapy principles.

“We have a huge issue of access [to mental health specialists], particularly globally,” Dr. Alison Darcy, CEO and founder of Woebot, told MobiHealthNews. “Woebot was created to be a fun and engaging way to talk about your mental health and look after mental health. It is drawn from cognitive behavioral therapy.”

@xmlsvg - Sold?

https://aisupplychain.ca/

OTTAWA, Feb. 15, 2018 /CNW/ - SCALE.AI is proud to have been selected by the Government of Canada as one of 5 superclusters to receive funding allocated through the Innovation Superclusters Initiative. The announcement was made today by the Minister of Innovation, Science and Economic Development of Canada, the Honourable Navdeep Bains.


This outcome could not have been accomplished without the generous contribution of time and effort by the academic research institutions, IVADO and University of Waterloo, with the support of a dedicated project team staffed on a voluntary basis by professionals and organizations such as BCG, CGI, Norton Rose Fulbright, OPTEL GROUP, PwC Canada and SCMA.

Close to 120 industrial partners, enabling organizations and world-class research institutions have joined forces to create this Canadian industry-led innovation consortium. Altogether, partners have already committed $700 million in support of this ground-breaking initiative.

The contribution agreement to be concluded shortly with the Government of Canada will enable SCALE.AI to launch its operations and collaborative transformation projects leading to the accelerated development and early integration of next-generation, AI-powered supply chains in our economy.

Canada puts £500 million into ‘innovation superclusters’
Five proposed university-industry collaborations in Canada have been awarded a total of C$950 million (£538 million) through a new government innovation programme.

“We are renowned for our bold progress in artificial intelligence, ocean and marine science, and agriculture,” she said. “With our superclusters initiative, scientists in these fields and others can look forward to expanding their research horizons in partnership with their academic peers, businesses, entrepreneurs and members of the non-profit community.”

UK Budget courts tech sector with $663M in investments in AI

Among the initiatives: a range of investments for new technologies like AI and 5G that add up to over £500 million ($663 million); wider tax breaks and other schemes to bring more investment into the sector; and laying the groundwork for making it easier to build and test new technology in the UK, such as new rules that will let companies test self-driving cars without safety operators.

“A new tech business is funded every hour and I want that to be every half hour,” Hammond said in his speech. “So today we invest over £500 million in a range of initiatives from artificial intelligence to 5G and full-fibre broadband.”

H2O.ai Raises $40 Million to Democratize Artificial Intelligence for the Enterprise

the leading company bringing AI to enterprises, today announced it has completed a $40 million Series C round of funding led by Wells Fargo and NVIDIA with participation from New York Life, Crane Venture Partners, Nexus Venture Partners and Transamerica Ventures, the corporate venture capital fund of Transamerica and Aegon Group. The Series C round brings H2O.ai's total amount of funding raised to $75 million. The new investment will be used to further democratize advanced machine learning and for global expansion and innovation of Driverless AI, an automated machine learning and pipelining platform that uses “AI to do AI.”

Wall Street-focused AI startup acquired for $550 million
S&P Global has agreed to acquire Kensho, a Cambridge, Mass.-based provider of AI-powered analytics for traders, for around $550 million in cash and stock.

Why it matters: This appears to be the largest-ever purchase of an AI startup, topping Google's 2014 deal for DeepMind.

Caveat: It's effectively a flat price from where Kensho raised its last round of funding one year ago (a round that S&P Global led).

• Per an S&P spokesman: "On a fully diluted basis, including the cash acquired, it was a modest premium to the last round of funding."
• Earlier backers included Breyer Capital, Xfund, General Catalyst and Goldman Sachs.

Bottom line, per Forbes: Kensho's goal is to "use machine learning to make complex financial analysis as easy as a search on Google."

AI breakthrough: Otter.ai app can transcribe your meetings in real time, for free
The startup has pulled off a feature that artificial intelligence giants and natural language processing software have been working on for years.

Google and Apple have acquired the most AI startups since 2012.

With close to 14 acquisitions, Google is currently leading the charge to buy AI startups. The company’s most recent acquisition involves the conversational commerce platform Banter, which helps businesses connect with their customers over popular messaging platforms like Facebook Messenger, Twitter, and Snapchat.

In 2017, Google purchased Halli Labs and Kaggle for undisclosed sums. Halli Labs is an Indian AI startup with a focus on building deep learning and machine learning systems to address what it describes as “old problems.” Data science startup Kaggle is a service connecting a growing number of data scientists and machine learning enthusiasts to create the most accurate predictive models and market models.

Last year, under undisclosed terms, Google also acquired Belarus-based AIMatter. AIMatter built both a neural network-based AI platform and a software development kit (SDK) for detecting and processing images. Under its wing is Fabby, AIMatter’s photo and video editing app that allows users to take creative selfies and is considered “distinct from recently trendy style transfer’.”

MSN-Domains said:

Show attachment 83178

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With the recent push for innovation in the artificial intelligence and machine-learning space, top companies like Amazon and Google are branding their AI ventures using the .ai domain name. Demand for the .ai TLD, which started out as the local domain for Anguilla, has skyrocketed in recent months.

There are still many high quality .ai domains available to register, but they are going fast—so the time to get involved is now!

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Gosu.ai raises $1.9 million to automate game training advice


Alisa Chumachenko, the founder of Game Insight, is back with a new startup called Gosu.ai, which she bills as a training lab that combines artificial intelligence and personalized advice to come up with coaching tips for would-be esports athletes. The company has raised $1.9 million in funding.

Chumachenko left the top job at mobile game company Game Insight a few years ago. To decompress, she unplugged from games. Then she slowly started playing again. In League of Legends, she found she could handle support roles, but wished she had a personal trainer to tell her what to do.

Mythic.AI snags $40,000,00 million to advance AI chips

Mythic announced today that it has closed a $40 million round of investment led by SoftBank Ventures to help bring a high-speed, low-power AI chip to market.

The company will use this massive infusion of cash to help launch its specialized silicon next year, roughly seven years after the company was first incubated at the Michigan Integrated Circuits Lab. Mythic’s technology performs machine learning inference calculations using analog electrical signals and flash memory, which the company says allows for higher performance and a lower-power draw than more conventional techniques, like using GPUs.

Ascent Robotics raises $10.3M to accelerate AI development for autonomous driving. The ".AI" dominance in the self-driving car market is overwhelming

Tokyo-based Ascent Robotics has been developing autonomous driving software for Level 4 capable-vehicle (fully autonomous driving including steering, accelerating and braking without human input) in the Japanese road environment. The firm launched a beta version of AI (Artificial Intelligence) learning environment named Atlas last week.

Atlas is a learning environment for AI used in simulator-based vehicle / robot, integrating VR (Virtual Reality) human interface and 3D simulation environment, in addition to deep reinforcement learning algorithm. By using both real and pseudo data for learning AI, the learning efficiency is increased to more than 50 times compared to that when using only real data.

Utilizing the superiority of Atlas, Ascent Robotics aims the realization of Level 4 autonomy by 2020 when market competition is expected to be intensified. Since the Japanese or Asian road environment is considerably different from Western ones that DeepMind, Waymo, and Uber deal with, Ascent Robotics focuses on the Level 4 autonomy applicable for narrow streets having much traffic as the conventional Japanese streets normally have, and the team expects to lead the global market in this field.

• Blok is a fast-growing Finnish startup that automates apartment sales.
  
  
• After a successful launch, the virtual real estate agent has now landed 1,6 million euros in seed funding from Lifeline Ventures and Bonnier.
  
  
• The company takes care of most routine tasks for people selling their flats, such as photographing, documents and marketing.
  
  
• Blok will use the funding to scale up in Finland and potentially expand to other markets.

If the digital revolution has been slow to catch on to real estate, that may soon be about to change.

Skyline AI, an Israeli startup that uses machine learning to help real estate investors identify promising properties, announced today that it has raised $3 million in seed funding from Sequoia Capital. The round will be used to build its tech platform and hire experts in data science and machine learning.

Founded in 2017 and headquartered in Tel Aviv, Skyline AI predicts future property values and also analyzes the real estate market to help investors make important decisions such as when to raise rents, renovate or sell. Co-founder and chief executive officer Guy Zipori told TechCrunch that Skyline AI’s founding team (who also includes chief technology officer Or Hiltch, chief revenue officer Iri Amirav and executive chairman Amir Leitersdorf) worked together for years at various artificial intelligence-based startups in sectors including security, healthcare and online video. After several of their companies exited, the four were in a position to find investment opportunities. They wanted to explore commercial real estate, but Zipori “were surprised by how limited the technology is in this space.”

Baidu drops lawsuit against driverless car start-up JingChi.AI after agreement on cooperation

JingChi.AI, which raised US$52 million in a September funding round from investors including Qiming Venture Partners and Nvidia Corp, is licensed to test autonomous vehicles on California’s roads and has struck deals to deploy driverless cars in the eastern Chinese city of Anqing.

In December Baidu filed a 50 million yuan (US$7.9 million) suit against Wang, alleging he stole in-house self-driving technology, which the Nasdaq-listed internet giant has bet on as a key engine for future growth.

Self-driving startup JingChi.AI names co-founder, ex-Baidu scientist Tony Han as CEO

Chinese autonomous driving startup JingChi has announced the appointment of co-founder and former Baidu’s Autonomous Driving Unit executive Tony Han as its chief executive officer. The appointment of JingChi’s new CEO comes days after China’s largest online search engine operator Baidu dropped its lawsuit against JingChi over alleged theft of technology secrets by former Baidu driverless car chief Wang Jing who had co-founded startup in 2017. In December, Baidu filed a suit worth $7.9 million against Wang who later stepped down from the role of CEO at JingChi.