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.
Scale AI, a startup that labels data for customers building machine learning algorithms, tipped the scales with a $3.5 billion post-money valuation when it raised $155 million in a Series D round led by Tiger Global. Olive AI Inc, which provides an AI workforce platform to the healthcare industry, closed a $225.5 million funding round, also led by Tiger Global, bringing its valuation to $1.5 billion.
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Raytheon Intelligence & Space, a unit of Raytheon Technologies (NYSE: RTX), will collaborate with C3.ai, a provider of enterprise AI software, to develop AI solutions for aerospace and defense missions by the US Air Force and intelligence agencies.
Google-owned (NASDAQ: GOOGL) DeepMind, a London-based AI lab, announced that its AlphaFold program had solved the 50-year-old protein folding issue and is capable of predicting the shape of many proteins.
Fish is a major export for Norway, earning a revenue of $11.3 billion in 2019, as per the Norwegian Seafood Council. Norwegian farmers are increasingly using artificial intelligence (AI) in aquaculture, the farming of fish and other marine organisms. The Norwegian AI Lab has developed AI models that can optimize various operations of this business.
Pactum helps its customers unlock value by automatically negotiating contracts on a massive scale. Think Walmart (NYSE: WMT). It’s the largest retailer in the world and has many thousands of agreements that should be optimally negotiated for multiple parameters.
Exchange traded fund (ETF) sponsor WisdomTree commissioned a survey by Coredata Research of professional investors across Europe on thematic investing. The survey found that a vast majority of these investors considered artificial intelligence as the most compelling long-term thematic investment opportunity.
Toronto-headquartered Scotiabank (NYSE: BNS) announced that it had been using a new AI platform over the past 10 months to enhance its customer service through the delivery of faster insights and better advice.
A sophisticated breathalyzer device that uses artificial intelligence and advanced mass spectrometry technology to detect whether a person is COVID positive has been developed and tested by Worlds Inc, the Texas A&M System, and the U.S. Air Force. Housed inside a kiosk, the Worlds Protect device analyses the exhaled breath from an individual and delivers the test result to a smartphone almost instantly.
Global technology company Nasdaq (NASDAQ: NDAQ) announced today its acquisition of Canada-based Verafin for $2.75 billion payable in cash. Verafin’s cloud-based software platform serves customers with fraud detection, money laundering protection, and high-risk customer management. The 2003-founded firm counts more than 2,000 financial organizations as its customers.
IBM (NYSE: IBM) announced Wednesday its acquisition of German software company Instana for an undisclosed amount. The acquisition will help businesses better manage the complexity of modern applications, considering they span the hybrid cloud landscape and use AI extensively.
In July, we wrote about how researchers at BenevolentAI found that baricitinib, a drug used for rheumatoid arthritis developed by Eli Lilly (NYSE: LLY), could be used to treat COVID-19, the deadly virus disease afflicting the globe. A new study dated November 13 has found that baricitinib can reduce the risk of death by Covid 19 in elderly people.
AliveCor’s AI-based products provide personal cardiological services. Its FDA-approved KardiaMobile device instantly detects heart conditions such as atrial fibrillation, bradycardia, tachycardia, and normal heart rhythm in an ECG. The company’s Kardia platform is AI-enabled and helps in the early detection of atrial fibrillation, which is very highly likely to cause a stroke.
In August, Goldman Sachs Asset Management (GSAM) announced that its trustees had approved the merger of five thematic ETFs into a single fund – the Goldman Sachs Innovate Equity ETF (NYSEARCA: GINN) – on an equal-weighted basis in a single ticker solution.
C3.ai, the software company launched by former Oracle executive Tom Siebel, filed papers for an IPO sized $100 million. The company intends to list on the New York Stock Exchange under the ticker symbol AI. Snap Inc (NYSE: SNAP) acquired Israeli voice assistant solutions startup Voca.ai for about $70 million.
. Enterprise AI developer VAIOT has integrated AI using IBM’s (NYSE: IBM) Watson Assistant to sell car insurance via an app and record the contracts on the Cosmos blockchain.
Cambridge-based AI lab Fetch.ai and enterprise blockchain solutions provider Datarella announced trials of M-ZONE, their smart city zoning infrastructure. The project will utilize multi-agent blockchain-based AI digitization services to unlock data and provide smart mobility solutions around commercial real estate in the city center.
SentinelOne announced Wednesday its Series F raise of $267 million in a round led by Tiger Global Management, with participation from Sequoia Capital Global Equities and existing investors including Insight Partners and Third Point Ventures. The same day, Palo Alto Networks (NYSE: PANW) announced its agreement to acquire Expanse Inc for approximately $ 800 million.
UVeye is a computer vision company that develops automated inspection systems for vehicles, powered by artificial intelligence and proprietary hardware. It announced Tuesday that Georgia-based V.I.P. Auctions will be the first remarketing group in the U.S. to utilize its artificial intelligence technology to support inspections of pre-owned vehicles.
Artificial Intelligence: The Vatican Library Deploys AI To Secure Its Digital Collections From Bad Actors
It’s a mammoth project. The Vatican Apostolic Library, also known as the “Pope’s Library,” was established in 1451 and holds an invaluable collection of manuscripts. These range from classical Greek and Latin literature, medieval and Renaissance illuminated manuscripts all the way to texts on mathematics, science, law, and medicine that are over 2,000 years old.
Pony.ai, a Chinese company that is testing its autonomous driving technology in California and China, has nabbed $267 million in its latest fundraising, bringing its cumulative financing to over $1 billion. The round saw participation by existing investors Fidelity China Special Situations PLC, 5Y Capital (formerly Morningside Venture Capital), ClearVue Partners, and Eight Roads. Interestingly, the Teachers’ Innovation Platform (TIP), a fund from the stable of the Ontario Teachers’ Pension Plan Board, led the round.
Artificial Intelligence: Amidst The Middle East’s New-Found Love For AI, Mubadala Owns A Piece Of Group42
Mubadala, the deep-pocketed sovereign wealth fund based in Abu Dhabi (pictured above), now owns a minority stake in Group42, which provides AI and cloud-powered industry solutions in the region. Mubadala announced its investment on Friday after Group42 acquired the Injazat and Khazna Data Centres.
NotCo is a Latin American foodtech startup that uses artificial intelligence in the formulation of its plant-based milk NotMilk. Backed by VCs such as Bezos Expeditions, Maya Capital, Indie Bio, Humboldt, and L Catterton, the company has launched NotMilk at Whole Foods Markets across the U.S.
Clarity AI is a fintech whose proprietary technology platform enables investors to understand the social and environmental impact of their portfolios. It is, therefore, a useful tool in the current times when ESG is front-of-mind for both retail and institutional investors.