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Artificial Intelligence

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.

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Artificial Intelligence: Microsoft Eyeing Acquisition of Nuance Communications (Bloomberg)

April 12, 2021

Microsoft (NASDAQ: MSFT) may buy Nuance Communication (NASDAQ: NUAN) at a valuation of $56 per share, according to Bloomberg, which cited unnamed people who were familiar with the matter. The price represents a premium of 23% over the Friday closing of Nuance of $45.58.

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FinTech: Saudi Arabia Could Add $293B To Its GDP Using Intelligent Automation

April 12, 2021

A new report by EY and Automation Anywhere titled “Saudi Arabia: showing the way to the world,” says Saudi Arabia’s use of intelligent automation could double the size of its economy to $1.6 trillion, adding an additional $293 billion by 2030. A combination of AI and Robotic Process Automation (RPA), intelligent automation could make huge strides in the improvement of technology-led productivity.

Artificial Intelligence: AI To Keep An Eye On Indian Jail Holding Mafia Don

April 9, 2021

AI-based drone cameras will maintain an aerial vigil on the Banda district jail in the Uttar Pradesh state of India. Lodged in the jail is notorious gangster-cum-politician Mukhtar Ansari, and Director-General Prisons, Anand Kumar, is leaving no stone unturned in ensuring maximum security.

Venture Capital: India’s ShareChat Scores $502M Raise From Top Investors

April 8, 2021

Sharechat, the Indian AI-powered social media and content-sharing platform, announced a raise of $502 million in a round led by Tiger Global. Twitter (NYSE: TWTR), Lightspeed, and Snap (NYSE: SNAP) also participated in the investment round which valued the start-up at $ 2.1 billion.

Artificial Intelligence: Indoor Farming Company AppHarvest Acquires Root AI

April 8, 2021

AppHarvest, Inc (NASDAQ: APPH), an indoor and sustainable farming company, announced today its acquisition of Root AI, a startup that develops AI-powered robots for use in indoor farming and harvesting. The deal includes Root AI’s signature robotic harvester dubbed Virgo. AppHarvest will pay about $60 million for the acquisition, comprising $10 million in cash and the rest in shares.

Artificial Intelligence: Google’s Ethical AI Crisis Escalates; Samy Bengio Resigns

April 7, 2021

Renowned AI authority and senior AI research manager at Google (NASDAQ: GOOGL), Samy Bengio, has resigned. His departure, scheduled for April 28, shows the rising discord within Google’s AI ranks, as it follows on the firings of researchers Timnit Gebru and Margaret Mitchell. The two women reported to Bengio. Google later handed over the charge of Bengio’s department to Mariam Croak.

Artificial Intelligence: Indian Lingerie Maker Clovia Uses AI To Recommend The Right Bra Size

April 6, 2021

Clovia sells innerwear, loungewear, and personal care brands across India and proudly proclaims it has served over 2 million customers. It uses data science and machine learning to crunch over 150 million data points from 2.8 million users daily. The technology helps Clovia across all aspects of its business – from manufacturing to dispatch.

Artificial Intelligence: Dubai Police Use AI To Nab Notorious Drug Lord, “The Ghost”

April 5, 2021

On Thursday, Dubai Police announced the arrest of French drug lord Moufide ‘Mouf’ Bouchibi, allegedly involved in drug operations in Europe valued 70 million euros ($82.6 million) annually. Brigadier Jamal Salem Al-Jallaf, director of the General Department of Criminal Investigation (CID), said his team used AI to track and arrest Bouchibi.

Artificial Intelligence: Mars Wrigley And Google Cloud Collaborate On A “Cakie”

April 1, 2021

Google Cloud and Mars Wrigley UK found out whether taste can be digitized by using AI to develop the first-ever Maltesers AI Cake.

Venture Capital: HighRadius, The Working Capital Optimizer, Lands $300M

March 31, 2021

HighRadius announced Tuesday its raise of $300 million in a Series C round at a valuation of $3.1 billion. D1 Capital and Tiger Global led the round which also received participation from existing investors ICONIQ Growth and Susquehanna Growth Equity.

Artificial Intelligence: Google Maps Getting An AI-Enabled Makeover

March 31, 2021

In a blog published Tuesday, Dane Glasgow, VP of Product, Google Maps, revealed that the company was using machine learning to push the boundaries of what a map can do. About 100 AI-powered improvements are planned, with many rolling out this year.

Artificial Intelligence: AI And High-Tech Cameras To Protect Bees From Deadly Mites

March 30, 2021

The Varroa Destructor mite (pictured above) decimated bee populations in countries other than Australia. Researchers have set up new, purple-colored “sentinel” hives at the Port of Melbourne in Australia to detect any of the deadly Varroa Destructor mites that might have entered the country through container ships.

Artificial Intelligence: Krisp Uses AI To Cancel Noises (Like Barking Dogs And Crying Babies) During Calls

March 29, 2021

Last month, Krisp, an AI-powered noise-removal service, raised $9 million in a Series A round of funding led by RTP Global and saw participation by Storm Ventures. The Krisp app works with calls and recordings and supports Zoom, Meet, and 1000+ other apps out of the box. It removes noises such as background voices, barking dogs, room echoes, and other disturbances that can affect virtual meetings in real-time.

Artificial Intelligence: Volkswagen Sets Up AI Unit In Detroit

March 26, 2021

Volkswagen (ETR: VOW3) has announced the establishment of a dedicated AI unit in Detroit. According to Abdallah Shanti, chief information officer for the Volkswagen Passenger Cars brand, AI competency will help leverage the immense database which the company has accumulated, and which can be used to enhance its business.

FinTech: Feedzai Lands $200M Funding Led By KKR

March 25, 2021

Powered by machine learning and AI, Feedzai is a cloud-based watchdog against financial crime. The financial risk management platform is used by the world’s leading financial institutions, payment providers, and merchants. The startup announced Wednesday its raise of $200 million in a Series D round led by KKR.

Artificial Intelligence: An AI Algo Can Predict Your Diabetes Risk

March 25, 2021

Artificial intelligence can now assign a probability score to a patient’s likelihood of developing diabetes 2. Scientists at Sanford Health, led by Robert Menzie, lead data scientist, have created an AI algorithm that can flag high-risk patients early on, thus giving them time to control the disease before it can lead to complications such as heart disease, vision loss, and kidney disease.

Venture Capital: AI-Powered, Digital Identity Verifier Jumio Scores $150M Round

March 24, 2021

Jumio, the leader in identity verification, eKYC solutions, and AML, announced Tuesday its raise of $150 million from Great Hill Partners, the Boston-based private equity firm that specializes in investing in high-growth companies across tech sectors. With this investment, Jumio has raised more than $255 million in total funding.

Artificial Intelligence: William Shatner Celebrates 90th Birthday By Creating An AI Lookalike

March 24, 2021

Movie star William Shatner turned 90 on Tuesday and fittingly celebrated the event by creating an AI likeness of himself that can interact and make conversation with the generations of fans to come. Shatner joined StoryFile, an interactive storytelling app, as a brand ambassador, and set things off by becoming the app’s first person to be featured in an AI-powered video.

Artificial Intelligence: AI Identifies Covid’s Tell-Tale Traces From Lung Ultrasounds

March 23, 2021

Researchers at Lawson Health Research Institute, London, have developed an AI-based computer system to pinpoint distinctive COVID-19 markers in the ultrasound scans of lungs of virus-afflicted patients. These hidden traces are indistinguishable even to highly trained and experienced medical personnel. The scientists trained an AI model on a dataset of lung ultrasounds from 243 patients, including 612 video loops and nearly 121,400 frames.

Artificial Intelligence: Citadel Receives Multiple Contracts For Its AI-Based Anti-Drone System From Five Eyes

March 22, 2021

Citadel Defense announced Thursday that it had won multiple counter-drone delivery contracts from Five Eyes (FVEY) customers. The company said its Titan counter unmanned aircraft system (CUAS) had been chosen based on the experience during joint missions with U.S. forces, and after three years of deployments for military and federal agencies. Titan is an autonomous, artificial intelligence-enabled counter-drone solution that forces hostile drones to safely land without disrupting nearby communications or electronics.

Venture Capital: Momenta Raises $500M From Automotive Majors Including Toyota

March 22, 2021

SAIC Motor (SHA: 600104), Toyota Motor (TYO: 7203) and auto parts supplier Bosch are among the investors to fund a $500 million Series C round by Chinese autonomous driving startup Momenta. The startup, which counts Daimler and Tencent Holdings amongst its backers, also received investments in the current round from Singaporean sovereign fund Temasek, Alibaba founder Jack Ma’s Yunfeng Capital, Xiaomi founder Lei Jun’s Shunwei Capital, Cathay Capital, and some unnamed institutions.

Artificial Intelligence: Myanmar Said To Deploy AI Surveillance On Protesters

March 19, 2021

On February 1, Myanmar leader and Nobel peace prize laureate Aung San Suu Kyi was overthrown in a coup by the country’s military. Since then the country has been rocked by violent protests and riots as dissenters demanded her return. To quell the “Spring Revolution,” as the civil resistance movement is called, the authorities have detained at least 2175 people and killed at least 183 protesters. Human rights groups allege that the military or police are now using Huawei cameras armed with Chinese facial recognition technology that can scan faces and vehicle license plates in public places, and alert authorities to those on a wanted list.

Artificial Intelligence: The Potential Bounty From AI Could Be $13,500 Per American Adult

March 18, 2021

AI technology will enable “Moore’s Law for everything” – housing, education, food, clothing, etc. could become half as expensive every two years, and for decades to come. There would be so much wealth to go around that every adult in the United States could be paid $13,500 annually as soon as 10 years from now.

Artificial Intelligence: Germany’s Artai.biz Helps With The Provenance Of Historical Artifacts

March 17, 2021

Artai.biz, a German AI startup, has made it easier to establish the provenance of a historical artifact or antique. Provenance refers to the object’s history of origin, a detailed list of its owners, and publications about it in books and magazines. A convincing and reliable provenance goes a long way towards establishing the object’s authenticity. Artai’s system is capable of identifying an object in the vast database of pictures and photographs resident on the Internet.

Venture Capital: AI-Powered Innovation Platform PatSnap Secures $300M Including From SoftBank

March 17, 2021

Patsnap announced Tuesday its Series E funding of $300 million led by SoftBank Vision Fund 2 and Tencent Investment with participation from CPE Industrial Fund and existing investors Sequoia China, Shun Wei Capital, and Vertex Ventures. The company, which operates out of multiple headquarters in Toronto (North America), London (Europe), and Singapore (Asia), is a leader in the so-called “connected innovation intelligence category.”