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.
Chinese AI company Parametrix.ai has raised $100 million in a Series B round led by Sequoia China and joined by existing investors 5Y Capital and Gaorong Capital. Though the valuation was not disclosed, Parametrix has joined the hallowed unicorn club (>$1 billion) after the funding.
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: In 2022, Order Your Pizza On An App, Have It Served By Robots In A Mobile Restaurant
A trio of ex-SpaceX engineers, Benson Tsai, Brian Langone, and James Wahawisan, founded Stellar Pizza in 2019. The company has devised an innovative machine that uses high technology and advanced robotics to bake a pizza inside five minutes without the touch of a human hand. Stellar Pizza will launch in the spring of 2022 in Los Angeles inside a food truck and will serve pizzas baked on the basis of orders placed on the company’s app.
Artificial Intelligence: Ex-Google Researcher Gebru Launches Non-Profit To “Bring AI Back Down To Earth”
In a bid to free AI research “from Big Tech’s pervasive influence,” prominent AI research scientist Dr Timit Gebru has launched an independent research institute on the first anniversary of her tumultous ouster from Google (NASDAQ: GOOGL). The Distributed Artificial Intelligence Research Institute (DAIR) seeks to be an independent space where researchers can undo the harm done by AI to minority groups such as through biased technology.
Artificial Intelligence: Insilico Medicine Initiates First-In-Human Trial Of AI-Discovered Drug For Pulmonary Fibrosis
Insilico Medicine, an end-to-end artificial intelligence (AI)-driven drug discovery company, has dosed a volunteer in Australia with ISM001-055, a potentially first-in-class small molecule inhibitor of a novel biological target discovered by its Pharma.AI platform for the treatment of Idiopathic Pulmonary Fibrosis (IPF). It represents the first trial in humans of this drug candidate.
Artificial Intelligence: Chinese Autonomous Driving Company Pony Gets Paid Robotaxi License For Beijing
Pony’s passenger car business now moves from testing to commercialization. Autonomous driving technology company Pony.ai has been authorized to run paid autonomous robotaxi services in the Beijing Intelligent Networked Vehicle Policy Pilot Zone in southeastern Beijing, the company announced Monday. Significantly, Beijing, China’s capital, is the first Tier-1 city in China to permit chargeable autonomous…
Artificial Intelligence: UNESCO Member States Adopt The First Ever Global Agreement On The Ethics Of Artificial Intelligence
The first ever global standard on the ethics of artificial intelligence (AI) was adopted by the member states of UNESCO at its General Conference on Tuesday. Audrey Azoulay, director-general of the United Nations Educational, Scientific and Cultural Organization (UNESCO), presented the historic agreement on Thursday, nearly twenty months after she constituted an international group of 24 leading AI experts to draft recommendations on the ethical issues of AI.
Artificial Intelligence: Australian State NSW Deploying AI To Combat COVID Fraud And Building Defects
The Government of Australian state New South Wales (NSW) is deploying AI, data analytics and the blockchain in various administrative applications, according to statements by officials at the 2021 digital.NSW event.
According to Harvard Business School professor Clayton Christensen, there are over 30,000 new products introduced every year, and 95% fail. These include launches by seasoned, experienced entrepreneurs. Radhi Devlukia-Shetty and Jay Shetty therefore were not taking any chances with the launch of their pet project – Sama Tea. To make sure they made it into the ranks of the successful 5%, they roped in 100.co for AI-powered brand creation.
The pandemic forced lawyers used to working in secure offices to instead function from remote locations such as their homes. Their employer firms had to contend with a new problem: How to ensure the security and confidentiality of clients’ sensitive data and documents? Their solution: AI-enabled surveillance of contract attorneys using facial recognition software. The lawyers now had a choice: Accept the intrusive systems inside their homes or risk losing the job.
Venture Capital: Generate Biomedicines, Which Uses Machine Learning To Invent New Drugs, Raises $370M
Generate Biomedicines, which uses its machine learning powered Generative Biology platform to make novel proteins with specific therapeutic functions, and thereby invent new drugs at never-before speeds, has raised a $370 million Series B. Investors in the round, which marked Generate’s first outside financing, included founder, Flagship Pioneering, along with several institutional co-investors.
A multispecies, AI-based model jointly developed by Heathrow, Microsoft (NASDAQ: MSFT) and Smiths Detection has shown, in initial trials, a success rate of over 70% in its detection of illegally trafficked wildlife concealed in baggage and air cargo.
ETF provider Global X ETFs announced today its launch of seven new UCITS ETFs in Europe that would trade on the London Stock Exchange and Xetra. The seven new ETFs complement Global X’s existing five thematic UCITS ETFs launched after Global X entered Europe in December 2020. The new ETFs center around disruptive, digital transformation around the world.
Artificial Intelligence: Global Pharma Company Sanofi Invests $180M In French American AI Startup Owkin
Sanofi (NASDAQ: SNY) announced today an investment of $180 million in Owkin, a Paris-based startup that utilizes AI and federated learning for medical research. Owkin’s platform connects life science companies with academic researchers and hospitals to share deep medical insights for drug discovery and development. Additionally, as a part of its AI-empowered precision medicine activities, Owkin builds predictive biomedical AI models and robust data sets.
Paris-based Cardiologs, which specializes in AI-enabled cardiology diagnostics, announced Tuesday that a clinical study proved its deep learning AI outperformed the Apple Watch ECG algorithm in the detection of atrial arrhythmias (AA), which are related to stroke risks.
An Albertsons (NYSE: ACI) store at Eagle, Idaho, is going all out to enhance the in-store experience for its shoppers by providing smart shopping carts made by Seattle-based startup Veeve. By equipping carts with enhanced features such as cameras, an interaction screen, even a weighing scale, they hope to make shopping in the store faster, easier and more efficient.
Researchers at the Krieger School at John Hopkins University used night vision and AI to unravel the secret methods that spiders use to create their webs in the dark. Their findings are due to publish in the November issue of Current Biology.
Zillow Offers, the AI-powered service from Zillow (NASDAQ: ZG), was designed to make selling a home less stressful, generate automatic home-buying offers using its AI-powered Zestimate feature to evaluate a home, and transfer a cash payment within a few days. Unfortunately, Zillow has shut down the Zillow Offers business after having to write down its home inventory by $304 million, ostensibly because it overpaid for it.
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 Wednesday its close of a $250 million Series F round led by Alpha Wave Ventures along with Abu Dhabi Growth Fund (ADG). Other bulge bracket investors included Altimeter Capital, Benchmark Capital, Coatue Management, Eclipse Ventures, Moore Strategic Ventures, and VY Capital.
It’s been well known that Spotify (NYSE: SPOT) uses AI algorithms to create its “Discover Weekly” playlists that are curated especially for the individual user’s enjoyment. These 30 songs are actually handpicked by a complicated set of algorithms that use big data, AI, and machine learning to figure out the user’s taste in music. The system curates the playlist by going through their streaming history, created playlists, “liked” songs, and “followed” artists. So much for preferences. But Spotify can now also gauge your mood, and suggest music accordingly. How?
Royal Philips (NYSE: PHG) is making another advance into high technology cardiac diagnostics with its acquisition of Cardiologs, A France-based medical technology company that uses AI and cloud technology for cardiac diagnostics. Philips said the acquisition, the terms of which were not disclosed, was an excellent fit with its existing cardiac care portfolio.
H2O, which enables businesses to build AI systems using its cloud-based platform, has raised $100 million in a series E round led by Commonwealth Bank of Australia (ASX: CBA) with participation from Goldman Sachs Asset Management, Pivot Investment Partners, Crane Venture Partners, Celesta Capital, and others. CBA acquires an undisclosed stake in H2O and is also its customer.
It had to happen sometime. The sheer volumes in store products, and the growing number of stores have made manning a nightmare for supermarket chains. The scarcity of trained labor, the high cost of wages and the unpopular working hours have together given impetus to the development of robotic solutions. On November 2, Family Mart and Telexistence installed a new robotic worker at a FamilyMart on the premises of the Ministry of Economy, Trade and Industry in Tokyo.
Alphabet has launched a new company called Isomorphic Labs for drug discovery using AI. Alphabet’s (NASDAQ: GOOGL) DeepMind unit made headlines with its path-breaking AI system AlphaFold2, which solved the 50-year-old challenge of protein folding. Alphabet is building on that breakthrough with the creation of Isomorphic Labs, a commercial venture that will bring an AI-centric…
IBM (NYSE: IBM) and Boston Dynamics have partnered in a drive to deliver data analysis “at the edge” by integrating the latter’s Spot mobile robot with AI and hybrid cloud innovation from IBM. Spot, transformed into an intelligent, roaming edge device, has begun conducting autonomous inspections at National Grid (NYSE: NGG) sites.
A massive project is underway to collect recordings of the clicks that sperm whales emanate when they seemingly communicate with each other across vast distances below the surface of the sea. Researchers hope that by applying AI, machine learning and natural language processing to these ‘codas’, they would decode a sperm whale language if it exists. Who knows, what may follow is a two-way conversation!