Artificial Intelligence News: AI will add $15 trillion to the global economy (according to Gartner) by 2030. This fast-moving, technological breakthrough is powering the next industrial revolution and will disrupt the global economy in unforeseen ways. The DailyAlts AI channel tracks the latest developments, capital flows, technological advancements, and other influences that will transform the 2020s.
Scientists have long held the view that earthquakes are impossible to predict, being random events. But the potential for damage these natural events have, including the loss of life, have led researchers to explore whether that could be changed using technology such as AI and machine learning.
Scientists at Los Alamos National Lab in New Mexico, led by Dr Paul Johnson, a staff scientist at the lab’s geophysics group, conducted experiments that attempted to predict the timing of a quake, rather than its magnitude, location or time. The test was surprisingly successful.
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Artificial Intelligence: Overjet Wins FDA Clearance For Its AI-Powered Software That Detects Dental Caries
The FDA has cleared Caries Assist, the AI-powered dental caries detection and outlining software from Overjet AI. The approval follows a FDA previous clearance for Dental Assist, Overjet’s AI-enabled software for bone level measurement in X-rays with periodontal disease.
Sleepio, a digital app, uses an AI algorithm to provide users with customized cognitive behavioural therapy for insomnia (CBT-I). Cognitive interventions aim to improve the way a person thinks about sleep and the behavioural interventions aim to promote a healthy sleep routine. The app costs £45 (excluding VAT) and can work through wearable devices like the Apple watch.
Last week it was reported that a recent study that looked at the state of sea lice in the Pacific Ocean and found that the parasite is increasingly becoming resistant to a pesticide known as SLICE, or emamectin benzoate, one of the main tools that the salmon farming industry uses to combat the menace. An assessment usually involves manually counting the sea lice on salmon, a process that is often erroneous and sometimes accompanied by deliberate under-reporting. However, Benchmark Genetics, Norway, has collaborated with the Danish Technological Institute on a new, AI-enabled process that uses imaging technology and artificial intelligence to analyse the number of sea lice in real time.
In a new milestone in its path towards commercialization of driverless vehicles, Argo AI, which is backed by Ford and Volkswagen, has launched on-road testing of these cars without accompanying safety drivers. These trials will commence in Miami and Austin and be initially available only to Argo AI employees via an app.
Venture Capital: Revolut Co-Founder Nik Storonsky Takes Aim At “Clubby” Venture Capitalism With Own VC Fund
Nikolai Storonsky, the billionaire co-founder of fintech and challenger bank Revolut, is building his own AI-powered venture fund to remove the element of “crowd mentality” in current day venture financing. It’s a clubby world driven by relationships, and a sitting target for disruption, in his view.
Inflection AI was founded earlier this year by DeepMind co-founder Mustafa Suleyman, LinkedIn co-founder Reid Hoffman, and Karen Simonyan, a British computer scientist and researcher also from Google DeepMind. The company’s AI intends to make it possible to communicate with computers using the same natural, conversational language that we use to converse with people. Inflection raised $225 million from unnamed investors. The valuation was not disclosed either.
A study by researchers at the Massachusetts Institute of Technology and Harvard Medical School found that an AI model trained to read X-rays and CT scans could predict a person’s race with 90% accuracy. Scientists were surprised enough by this development to initially deem it a “mistake.” More so, because a doctor cannot tell a person’s race by looking at their X-ray.
Deals across the Clearview facial recognition system, discovery of battery metals in Australia, revenue communications, and data analytics Deloitte buys Intellify Deloitte Australia has acquired Amazon Web Services (AWS) and Databricks specialist Intellify to add to its consulting arm. Founded in 2017, Intellify has more than 40 certified AI/ML developers. It operates in Australia across…
San Francisco based Brightseed has raised $68 million in a Series B round led by Singapore sovereign fund Temasek with participation by existing investors Lewis & Clark AgriFood, Seed 2 Growth (now S2G) Ventures, CGC Ventures, Germin8 and AgFunder. Brightseed uses an AI platform dubbed ‘Forager’ to identify the hidden compounds in plants that can impact our health beneficially. The funding brings up the total money raised by Brightseed to $120 million.
Artificial Intelligence: AI-Powered MAGIC Goggles To Assist Field Personnel Perform Medical Procedures
DARPA has picked Raytheon (NYSE: RTX) BBN to develop goggles that are equipped with Augmented Reality (AR) and Artificial Intelligence (AI) capabilities to serve as a virtual medical assistant to combat medics on the field. The device would provide real-time, hands-free guidance for 50-different medical procedures.
VideaHealth, which leverages AI, data, and analytics to improve decision-making and diagnosis for dentists and dental insurers, has secured the approval of the US Food and Drug Administration (FDA) for its new AI-powered cavity detection system. The system serves as a valuable confirmatory tool for dentists.
Pacer ETFs has announced the launch of its all-new Pacer BlueStar Engineering the Future ETF (BULD) that tracks the BlueStar Global Robotics & 3D Printing Index. Accordingly, the ETF targets manufacturing and engineering developments leading to The Fourth Industrial Revolution, also known as Industry 4.0, which is characterized by disruptive industrial automation, and dependency on 3D printing and robotics.
Artificial Intelligence: Toyota To Deploy The Invisible AI Computer Vision Platform At North American Factories
Toyota Motor North America (TNMA) and Invisible AI have joined hands to improve quality, safety, and productivity at the 14 Toyota factories in the US through the use of AI. The platform works with so-called ‘invisible eyes’ to track real-time human motion to help customers run accurate, reliable and safe operations. The first TNMA plant to implement this technology, Toyota Indiana, will initially deploy 500 of these ‘edge AI’ devices this year.
The availability of powerful computing hardware and dramatic advanced in AI and software technologies have made it possible to conduct highly reliable and accurate vehicle inspections that generate reports in real-time.
Founded in 2007 by a group of automation engineers from Cuba, Solinftec is an agtech focused startup with headquarters in both São Paulo, Brazil and West Lafayette, Indiana. The company raised $60 million in a growth investment round led by Lightsmith Group and joined by existing investors Unbox Capital and Circularis Partners and several undisclosed investors.
Engineers and scientists at the University of Texas, Austin, have used machine learning to create FAST-PETase, an enzyme variant that can break down plastic waste in a matter of hours or days at lower temperatures. Plastic waste is a serious environmental problem because it is generated in quantities of billions of tonnes, piles up in deadly landfills, pollutes land and oceans, and takes centuries to degrade.
Anthropic, a public benefit corporation and AI startup launched in 2020, raised a $124 million Series A in 2021, and has just announced a massive $580 million Series B round led by Sam Bankman-Fried, CEO of FTX. The round also included participation from Caroline Ellison, Jim McClave, Nishad Singh, Jaan Tallinn, and the Center for Emerging Risk Research (CERR).
The AdvisorShares Drone Technology ETF (NYSEARCA: UAV) has commenced trading from April 27, according to an announcement from AdvisorShares, a sponsor of active ETFs. The ETF offers investment opportunities in the commercial drone economy including drones and autonomous vehicles (AVs).
Foresite is a high tech platform that includes wireless sensors, artificial intelligence, deep machine learning, visual monitoring systems, and predictive analysis. The system tracks a resident’s health, helps to predict an elevated risk of falling, and provides immediate alerts should a fall occur.
Artificial Intelligence: Baidu And Pony.AI Licensed To Operate Autonomous Vehicles Without Safety Drivers
For the first time ever, robotaxis will run on Chinese roads without a safety driver. Baidu (HKG: 9888) and Pony.AI received permits from the municipal government to operate their robotaxis within a 60 square kilometre (23 square mile) area in the Beijing Economic and Technological Development Zone. The rides may be offered to the general public without the need for a safety driver to be seated in the driving seat.
Visa’s (NYSE: V) massive investments in AI and advanced analytics enabled the card giant to wrestle payment fraud down to record levels despite the quantum surge in online transactions after the pandemic. Consider this: Since late 2019, the volume of e-commerce traffic has grown by 50%, according to Visa. Peer-to-peer payments on Visa’s network more than doubled, while subscriptions to digital streaming services surpassed 1 billion for the first time. But…cybercriminals got practically nowhere with Visa.
Speech Processing Solutions, a Philips (AMS: PHIA) brand, and Sembly AI have joined up to launch a technology solution that enables instant searchable meeting transcripts, highlights key discussion moments, and creates summaries. The solution utilizes powerful microphones and smart meeting technology that together guarantee 360° recording, whilst capturing each speaker in the room and ensuring crisp, clear audio. One variant includes an intelligent camera that can be set to automatically recognize meeting participants individually and focus accordingly.