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.
Top Story
Oxford, UK-based Exscientia uses AI to design and create drug candidate molecules satisfying complex therapeutic requirements with revolutionary efficiency. Joint research by Exscientia with Sumitomo Dainippon Pharma Co., Ltd. (TYO: 4506) resulted in the creation of the molecule DSP-0038, a dual-targeted 5-HT1A agonist and 5-HT2A antagonist to be assessed for treatment of Alzheimer’s disease psychosis. Sumitomo will now initiate a Phase 1 clinical study of DSP-0038 in the United States.
Get Daily Updates
Subscribe to DailyAlts Today to get Alternative Investment news, insight, and commentary delivered straight to your inbox every day.
More Stories on Artificial Intelligence
Artificial Intelligence: Volkswagen’s Electric Version Of Its Iconic Microbus In Self-Driving Trials This Summer
VW will use hardware and software developed by Argo AI. Volkswagen (ETR: VOW3), which is targeting the launch of autonomous commercial delivery and micro-transit service in Germany by 2025, announced plans to trial new self-driving vehicles this summer in Germany. (The Verge) On Wednesday, the German automaker, which is collaborating with Argo AI for the…
Artificial Intelligence: IBM Launches Slew Of Products For The Hybrid Cloud And AI
IBM Announces Breakthrough Hybrid Cloud and AI Capabilities to Accelerate Digital Transformation at its 2021 Think Conference. These innovations around its hybrid cloud and AI platform are aimed at helping businesses manage their digital transformation, particularly after the pandemic.
Artificial Intelligence: IBM Study Finds The Pandemic Accelerated AI’s Rollout
IBM’s Global AI Adoption Index 2021 found that nearly a third of the IT professionals surveyed confirmed their businesses had commenced the use of AI. Further, 43% said the COVID-19 pandemic had catalyzed a faster rollout of AI at their companies. On the flip side, challenges to the adoption of the technology included scarcity of skills and complexity of data.
Artificial Intelligence: An AI-Enabled Ship With A Chatbot But No Captain Will Cross The Atlantic
The craft pictured above looks remarkably fragile but a team of researchers from the marine research non-profit organization ProMare in technology collaboration with IBM will attempt to sail the Mayflower 400 across the Atlantic on May 15, 2021.
Artificial Intelligence: AI Can Cut Buildings’ Energy Consumption By 20-25%
Heating, ventilation, and air conditioning (HVAC) systems account for 45% of all energy consumed in commercial buildings. Tragically, as much as 30% of this is usually wasted. BrainBox AI, which is based in Montreal, Canada, uses artificial intelligence to learn a building’s energy “equations” and then to control them for maximizing energy savings without compromising on residents’ comfort.
Artificial Intelligence: ESA Pioneering Development Of AI-Driven Space Debris-Dodging System
Thousands of satellites are being launched every month by companies such as SpaceX, OneWeb, and Amazon as they jockey for space supremacy and build mega-constellations that orbit the earth. Current launches, in a month, exceed more than the annual figure just a few years ago. As a result, there is a growing risk of collisions among spacecraft and debris in the orbital space around the Earth. The European Space Agency is pressing AI to automate collision avoidance procedures.
Artificial Intelligence: AI Crunches Simulations Of The Cosmos Into Minutes
A new AI application makes it dramatically easier to simulate a vast, complex universe in high resolution. This breakthrough is a huge advance in high-resolution cosmological simulations, reducing computation time from hundreds of hours to just a few minutes.
Artificial Intelligence: Google’s Loss, Apple’s Gain? Bengio Joins iPhone Giant
AI stalwart Samy Bengio has joined Apple after quitting Google. Apple (NASDAQ: AAPL) has snapped up acclaimed scientist Samy Bengio after he left Google (NASDAQ: GOOGL) following a highly visible fracas in the search behemoth’s AI department. (Yahoo News) Samy Bengio quit Google last week amid rising discord within Google’s AI ranks, following the firings…
Venture Capital: Autonomous Welder Path Robotics Nabs $56M
Path Robotics announced its raise of $56 million in a Series B round led by Addition and with participation by returning investors Drive Capital, Basis Set, and Lemnos Lab. The company creates manufacturing robots that autonomously scan, position, and weld the customer’s parts without the need for skilled welders or robot programmers.
Artificial Intelligence: Now AI To Combat The Menace Of Spray Drift
Spray drift refers to the damage to nearby crops and fauna due to pesticide spraying. Unwanted movement of sprayed pesticides due to factors such as wind often result in the chemicals being deposited on unintended targets such as proximate crops or wildlife. However, this problem, referred to as spray drift, is now being tackled in…
Artificial Intelligence: OpenSpace, Which Monitors Job Sites, Raises $55M
OpenSpace builds virtual time machines for construction sites that monitor and record job progress. The startup which uses AI, computer vision, video, and photographs to drive its software, has raised $55 million in a Series C round led by Alkeon. New investors included PSP Partners, Asia-focused real-estate tech investors GreenPoint Partners, and Hong Kong-based New World Development.
Alternative Investments/AI: A New ‘Fund Of Thematic Funds’ From LGIM
The Legal & General Global Thematic Fund, a new launch from Legal & General Investment Management (LGIM), addresses UK investors and their demand for access to multiple themes. The innovation-focused fund is a bouquet of eight themes in the areas of technology, energy and resources, and changing demographics.
Venture Capital: Pactum, A Provider Of Negotiation-As-A-Service (NaaS), Raises $11M
Pactum, a startup with Estonian origins that is now headquartered in California, operates an AI platform designed to automate contract negotiations for big companies such as Walmart (NYSE: WMT). It announced Tuesday its raise of $11 million (approx €9.1 million) in its Series A round of funding.
Artificial Intelligence: The Forbes List Of 50 Top AI Companies To Watch
To create the third annual AI 50, Forbes partnered with Sequoia Capital and Meritech Capital. The list consists of private, North American companies that are using AI in ways fundamental to their operations. (Forbes)
The list in alphabetical order:
Artificial Intelligence: Israel’s Athena Battle System Will Use AI To Scope Targets
Israel Aerospace Industries (IAI) is developing Athena, an AI-enabled super-brain that will utilize high-powered sensors to guide tanks and automated vehicles in their reconnaissance of battlefields and location of enemy targets.
Artificial Intelligence: Aussie Supermarket Chain Coles To Use AI For Stock Replenishment
Fresh produce available when you want it. Lower labor costs. Reduced food waste. Those are the paybacks that Australian retail giant Coles Group (ASX: COL) is aiming for by deploying cloud-based AI technology to replenish fresh produce on its shelves.
Artificial Intelligence: AI Reveals Two Near-Identical Hands Behind Dead Sea Scrolls
AI-powered paleography, or the study of old handwriting, by researchers at the University of Groningen, Netherlands, has revealed that two writers likely wrote separate halves of a manuscript of the Dead Sea Scrolls.
Artificial Intelligence: The European Commission Declares Its Regulatory Approach To AI
The European Commission (EC) on Wednesday set forth new rules and actions for governing AI with the twin objectives of guaranteeing the safety and fundamental rights of people and businesses while strengthening AI uptake, investment, and innovation across the EU.
Artificial Intelligence: Cerebras Systems Unveils WSE-2, A Monster AI Chip With 2.6T Transistors
Cerebras Systems, which is building a new class of computers to accelerate artificial intelligence work by orders of magnitude beyond what is currently possible, announced Tuesday the launch of the Wafer Scale Engine 2 (WSE-2), the largest processor ever made. The new chip will power the Cerebras CS-2, the industry’s fastest AI computer, which will now run at 2X the speed of the first-generation CS-1.
Alternative Investments: Disruptor-Focused, Hyper-Concentrated ETFs From Volt Equity
Volt Equity, the boutique investment firm based in Silicon Valley, has joined with Simplify Asset Management to launch a new class of ETFs that are highly concentrated in their exposure and come with an inbuilt options strategy. These ETFs allow investors to “bet big” on companies that are disruptors in their field, or are creating new industries, yet also offer a cushion against downsides. The target audience for these ETFs is Robinhood-era bull investors.
Artificial Intelligence: Sony AI’s Flavorgraph Points Chefs To Innovative Food Pairings
Sony AI and researchers at Korea University put their heads together to develop an AI tool called FlavorGraph that could come up with innovative ingredient pairings to help chefs develop new, delicious dishes.
Artificial Intelligence: Google Cloud And Siemens Tie Up To Bring AI To The Shop Floor
Siemens Digital Industries and Google Cloud announced today a collaboration that will integrate their factory automation solutions and AI/machine learning technologies respectively to enable the scaled deployment of AI-based solutions in industrial manufacturing.
Artificial Intelligence : “We Must Not Allow AI To Determine The Outcome Of A Case” – Chief Justice Of India
Hon’ble the Chief Justice of India, Mr. Justice Sharad Arvind Bobde, says that while AI can provide assistance and information for the evaluation of the merits of a case, it cannot replace the element of human decision-making in a judicial system.
Artificial Intelligence: Leaked EU Draft Shows Strict Proposals Against Misuse Of AI
A draft set of proposals obtained by Bloomberg shows that the EU could fine AI and tech companies as much as 4% of global revenue if they fall foul of the EU’s new norms for the use of AI. Further, these proposals include a ban on AI-powered mass surveillance or systems that rank social behavior.