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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Jasper, the platform for AI-generated content, announced its $125 million Series A round led by global software investor Insight Partners and joined by other leading firms including Coatue, Bessemer Venture Partners, IVP, Foundation Capital, Founders Circle Capital, HubSpot Ventures and more. The round valued the firm at $1.5 billion.
Stability AI, an open source AI company driven by a community of developers that launched the highly successful, free-to-use, text-to-image generator Stable Diffusion, has raised a $101 million, oversubscribed round led by Coatue, Lightspeed Venture Partners, and O’Shaughnessy Ventures LLC.
Artificial Intelligence: NVIDIA Founder Jensen Huang And Wife Lori Huang Donate $50M To Oregon State University
Oregon State University (OSU) has announced the launch of a $200 million research and education center incorporating one of the nation’s most powerful supercomputers. Jen-Hsun Huang, founder and CEO of NVIDIA (NASDAQ: NVDA), and his wife Lori have contributed a gift of $50 million to the OSU Foundation, following which the center is to be named the Jen-Hsun and Lori Huang Collaborative Innovation Complex.
Artificial Intelligence: VW Launches €2.4bn Joint Venture with Chinese AI Chip Specialist Horizon Robotics
Volkswagen AG (ETR: VOW3) announced an investment of €2.4bn in a joint venture between its software company CARIAD and Horizon Robotics, a leading Chinese designer of AI chips and provider of computing solutions for smart vehicles in China. CARIAD will be a majority (60%) shareholder in the JV, expected to be formed in the first half of 2023.
London’s West End may soon add ‘high tech’ to its ‘night-spot’ allure. A number of AI startups have located themselves in this district, which may soon gain a reputation as the UK’s AI cluster and industry hub. The trend since the late 2000s for East London to be the go-to address for digital startups seems to be turning. (UKTN)
Finnish dairy Valio enlisted technology company Aiwo Digital to analyse a global assortment of 1.5 million tweets to get insights from chocolate lovers around the world. They used this information to create The Bar, a new low-sugar milk chocolate claimed to be having “AI-design” features.
Ai-Da, a robot created by Aiden Meller, and described as “the world’s first ultra-realistic robot artist”, appeared at a hearing before the Lords communications and digital committee on Tuesday. The Committee was examining the future of the UK’s creative industries and how AI could impact the sector.
Alternative Investments/Hedge Funds: Ex-Bridgewater Executive Launches Unlimited – A Hedge Fund Tracking ETF
Unlimited, a new investment firm purpose-built to give all investors exposure to the alpha-generating potential of alternative investment strategies without the high fees and adverse tax implication, has been launched by Bob Elliott, former member of the Investment Committee at Bridgewater Associates. The firm has debuted the Unlimited HFND Multi-Strategy Return Tracker ETF (NYSE: HFND), an actively managed fund which uses a sophisticated machine learning engine to track the gross-of-fees returns across several hedge fund indices.
Arugga, an Israel-based startup, has begun commercial marketing of Polly, an AI robot that can mimic the buzzing of a bumblebee. The vibrations from the robot shake the pollen from the flowers of a plant, for example tomato, and fertilize them so they can produce fruit. According to the company, Polly can replace the pollinating function of bumblebees that is so vital for crops such as tomatoes, blueberries, potatoes and others. These are typically crops which contain both male and female parts.
Artificial Intelligence: AI And Satellite Data Help Spot Areas Where People May Be Trapped After A Hurricane
Researchers at the University of Connecticut have developed a new method that uses satellite images from before the storm and real-time images from four satellite sensors, together with artificial intelligence, to create a disaster monitoring system. The system is detailed enough to spot damage up to a resolution of 30 meters, as well as update the status continuously.
Artificial Intelligence: Microsoft Open Sources Its FarmVibes AI Toolkit To Advance Data-Driven Agriculture
Effective October 6, Microsoft (NASDAQ: MSFT) will open source the AI tools in its Project FarmVibes suite of farming technologies. The software giant is hoping that researchers and data scientists can build upon them to turn agricultural data into action that can help boost yields and cut costs. Pictured above is Andrew Nelson, a farmer in eastern Washington who uses drone and satellite imagery, and other AI tools from FarmVibe, to gather actionable data on his farm.
Walmart (NYSE: WMT) announced its acquisition of Alert Innovation, a robotics automation company that develops material-handling technology for automating order fulfillment in retail supply chains. Walmart’s particular focus is on market fulfillment centers, or MFCs – it wants to reach customers quicker by deploying MFCs with greater speed, providing both an unmatched shopping experience and a competitive advantage in omni-channel fulfillment. Walmart has been working with Alert to customize technology for its MFCs since 2016, and in 2019, began piloting its first MFC in Salem, New Hampshire, using bot technology from Alert specifically built for the retail giant.
Google has announced Imagen Video, an AI video generator that can create 1280×768 HD video at 24 fps from written text. Though it’s still in research mode, it seems to be a quick riposte to Meta’s recently unveiled text-to-video AI tool, Make-A-Video. It also comes within six months of OpenAi’s DALLE-2 text-to-image generator.
The White House Office of Science and Technology Policy on Tuesday issued guidelines titled “Blueprint for An AI Bill of Rights” meant to protect all people from threats including limiting their access to equal opportunity; prevent access to critical resources or services; and undermining their privacy, or tracking their activities.
Artificial Intelligence: The UK’s National Robotarium Teams With Scottish Fire To Create AI-Powered Fire-Fighting Helmet
The National Robotarium and Scottish Fire and Rescue Service have conducted trials on a helmet that incorporates AI technology to help firefighters quickly map their surroundings, navigate hazardous environments and efficiently locate fire-scene victims. The announcement of the innovative helmet came simultaneously with the opening of the National Robotarium on September 28.
At its much-anticipated AI Day on Friday, Tesla (NASDAQ: TSLA) brought on stage a prototype of its Optimus humanoid robot slated for mass production in 3-5 years at a target price of less than $20,000. The humanoid is aimed at solving all kinds of boring and repetitive tasks, especially in the context of labor shortages.
Clearview AI announced its win of the “Scalable Training Data Preparation Pipeline And Efficient Distributed Trainer For Deep Neural Networks In Facial Recognition” patent (U.S. Patent No. 11,443,553) issued by the U.S. Patent and Trademark Office (USPTO). The patented technology is able to create highly accurate, bias-free facial recognition algorithms from publicly available information.
Disperse, a provider of AI software that streamlines processes and productivity at construction projects, has raised $16 million in a funding round led by 2150 with participation by existing investors including Northzone and Kindred Capital. The company will use the new funds for product advancements and expanding the go-to-market function in the Americas. Disperse systems will support project managers during a recessionary environment, volatility in labor and materials markets, and other typical operational issues.
A Ukrainian startup called Respeecher took up the task of using AI to recreate Jone’s voice in Disney Plus’ Obi-Wan Kenobi. According to The Verge, which cited Vanity Fair, Jones had signed off rights to his archival voice work.
Khushboo Patel, an engineering graduate from Surat and Neel Panchal, co-founder of graphene manufacturing startup LHP Nanotechnologies have got together to develop a jacket made of graphene for the Indian Armed Forces that would keep soldiers warm and comfortable even in the harshest of climate.
The Marine Mammal Center and The Benioff Ocean Science Laboratory have announced a collaboration to bring Whale Safe, a technology-based mapping and analysis system to help prevent whale-ship collisions in the San Francisco Bay Area region.
The Kroger Co (NYSE: KR), America’s biggest grocery retailer, is implementing a self-checkout solution developed using Everseen’s Visual AI. This technology leverages high-resolution cameras and a combination of computer vision and AI capabilities developed on Nvidia’s (NASDAQ: NVDA) Accelerated Computing AI Platform.
Artificial Intelligence: AI To Prevent Endangered Eagle Species From Flying Into German Wind Turbines
Only about 130 breeding pairs of the lesser spotted eagle are known to be surviving. This species of eagle is known to ride thermal currents that prevail over past German flatlands that will soon see vast wind farms in the country’s rush to replace increasingly doubtful supplies of Russian gas, coal-based power and nuclear energy.
Here are interesting funding rounds in the AI space, ranging from the BMW-led $10 million funding in an optical AI company, to the similar amount invested in a Slovenia-based insect monitoring, and forecasting platform.