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.
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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Spanish infrastructure and renewable energy giant Acciona won the contract for the design, construction, and O&M of the Umm Al Houl SWRO desalination plant in Qatar in 2015. The plant will produce 564,000 m3 of desalinated water per day, enough to serve 1.1 million people, after the start-up of operations in April. Acciona will fund an AI project at the facility from its dedicated decarbonization fund.
insitro, the startup founded by Stanford University professor and Coursera co-founder Daphne Koller, is again in the news for a big fundraiser. The data-driven drug discovery and development company announced a $400 million Series C round led by Canada Pension Plan Investment Board (CPP Investments).
Cowbell Cyber, an insurtech, focuses on providing small and medium enterprises with AI-powered insurance against cyberattacks. The company announced Thursday its close of a Series A funding of $20 million led by Brewer Lane Ventures. Pivot Investment Partners, Avanta Ventures, Markel Corporation, and existing investors ManchesterStory, Tri-Valley Ventures, and Holmes Murphy also participated.
Those Midas-touched VCs who pick investing winners using a combination of their experience, “gut feel,” and quantitative data will soon play second fiddle to AI and data analytics says a report by Gartner.
Students from CMU’s Master of Science in Artificial Intelligence and Innovation program have been jointly working with Pittsburgh International Airport (PIT) to streamline its operations and to improve travelers’ experience.
Artificial Intelligence: Boeing’s AI-Powered Loyal Wingman Drone Completes Maiden Flight In Australia
The Loyal Wingman is an unmanned military aircraft that is designed to fly as a partner with crewed Air Force formations. It is meant to complement and extend manned air combat systems. Tuesday’s successful flight confirmed the possibilities of combining AI and an autonomous system thereby creating smart human-machine teams.
Drive-thru, fast food restaurants such as Lee’s Famous Recipe Chicken at Englewood, Ohio, face both staff shortages and a surge in customer demand due to the pandemic. Employees are getting harder to find because they are reluctant to work in a customer-facing position for hours on end while wearing a mask. On the other hand, pandemic -wary customers find drive-thru’s a good solution to pick up food quickly and at minimal contagion risk.
TytoCare, has developed a platform and devices that use AI to perform remote medical examinations for doctors and clinicians. Healthcare organizations, hospitals, and insurers around the world recommend TytoCare’s telehealth kits (pictured below) for monitoring the health of patients remotely and virtual caregiving. The Israeli telehealth startup just raised $50 million in a Series D round, doubling its valuation.
MIT Assistant Professor Kevin Yufeng Chen has developed small drones that are powered by soft “actuators” instead of conventional motors. These actuators are capable of absorbing and recovering from collisions, high winds, and drops, much like those pesky mosquitos that keep returning after you’ve swatted them away. Because of this resilience, and their small size, these mini drones are capable of many tasks that larger drones cannot accomplish.
Beam Dental, a dental insurer, uses AI in its operations (and toothbrushes) to assess people’s dental health and issue quotes in just 30 seconds. Beam’s app-connected brushes incentivize users to brush regularly and improve dental hygiene. In turn, they qualify for rebates on their dental insurance.
Drone maker Skydio announced Monday its raise of $170 million in Series D funding led by Andreessen Horowitz’s Growth Fund, valuing the company at over $1 billion. Existing investors Linse Capital, Next47, and IVP, along with new investor UP. Partners also participated.
Artificial Intelligence: allora.ai, The Hotel Booking Engine That Guides Travellers To The Perfect Stay
Steve Jobs famously said that people don’t know what they want until you show it to them. Avvio’s AI-powered hotel booking engine, allora.ai, can do much the same thing after analyzing 400 million guest experiences. So much so, hotels can almost predict what the next guest is going to do with their holiday.
My Heritage, which uses at-home DNA tests and a huge historical database to construct your family tree, has launched a new feature titled Deep Nostalgia. It allows a user to animate old still photos of long-dead and loved relatives so it appears they are on a video.
Irizar Group, an international business group headquartered in Spain, has built a bus capable of running autonomously for Avanza, the first private operator of urban, public road transportation in Spain. The electric bus started operations in the Spanish city of Málaga from Saturday.
The GCHQ unveiled a paper on how it will use AI to help protect the U.K. GCHQ, the U.K.’s intelligence agency, published today a paper titled Ethics of AI: Pioneering a New National Security to explain how it intends to use AI responsibly to keep the country safe from various kinds of threats.
Eric Schmidt, who was CEO of Google (NASDAQ: GOOGL) from 2001 through 2011, warned Tuesday that the United States is “one or two years ahead of China, not five or 10” and “the Chinese are well ahead in areas like face recognition.” He was speaking at a hearing held by the Senate Armed Services Committee on emerging technologies and their impact on national security.
A tsunami warning system using dart buoys was badly off the mark when a tsunami struck Japan’s eastern coast a decade ago. A deadly 9.0 magnitude earthquake triggered the tsunami wave, which was as high as 50 meters in some places. Tragically, the buoy system estimated the wave size at only 3 meters. When it struck, the monster wave caused over 20,000 lives. However, Fujitsu (TYO: 6702) Labs used AI and a supercomputer to develop a more reliable system.
Margaret Mitchell, an AI researcher and a leader of Google’s (NASDAQ: GOOGL) Ethical AI team, was terminated by the company after a suspension that commenced last month. Dr Mitchell said in a tweet on Friday afternoon: “I’m fired.”
Locus Robotics, which provides robotic solutions for automating warehouses, raised $150 million in a Series E round led by Tiger Global Management and BOND. Scale Venture Partners and Prologis Ventures, the venture capital arm of Prologis, the global logistics real estate company, also participated. The round valued Locus at $1 billion, granting the startup the coveted unicorn status.
How do you estimate and account for how much fishing – recreational or commercial – is actually going on in your friendly neighborhood ocean? That information is central to measuring catch and ultimately, the sustainability of the fish and marine life in the water body. The EDF launched today its SmartPass fishery monitoring system that combines the use of shore-based cameras, AI, and automated image analysis to monitor fishing effort.
Sea turtles are an endangered species, not only from mankind’s activities. Their nests on Queensland’s western Cape York are a favorite prey for feral pigs. The pigs have wiped out sea turtles from great swathes of beaches south of Aurukun, in the Far North Queensland, Australia. Scientists at the Commonwealth Scientific and Industrial Research Organisation (CSIRO), Australia’s national science research agency, and rangers have tried for the past six years to protect the nests from the marauding pigs using drones and helicopters. They are now harnessing AI for the purpose.
British engineering AI software company Monolith used artificial intelligence to create the ultimate pancake recipe. Monolith, which is an offshoot of the U.K.’s Imperial College, found a recipe that used seven ingredients and needed just one toss for a drool-worthy stack of pancakes.
Researchers at the Skolkovo Institute of Science and Technology in Russia built a system that used computer-based, machine-learning algorithms to analyze video recordings of people, thought to have Parkinson’s Disease (PD), performing specific movement tasks. The system could identify between healthy and suspected PD patients.
Rolls Royce Germany and Altair (NASDAQ: ALTR) announced in January a collaboration to use AI in the manufacture of aerospace engines. Rolls Royce Germany builds jet engines, components, parts and provides services to aviation customers, including Lufthansa, Airbus, Gulfstream, and Bombardier.