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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.

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Artificial Intelligence: AMD Takes On Rivals In The AI Chip Sweepstakes

December 7, 2023

Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while the ROCm 6 open software stack introduces new features supporting Large Language Models (LLMs). Additionally, the Ryzen 8040 Series processors come equipped with Ryzen AI capabilities.

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Artificial Intelligence: Now AI To Combat The Menace Of Spray Drift

May 3, 2021

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

April 30, 2021

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

April 30, 2021

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

April 28, 2021

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

April 28, 2021

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

April 27, 2021

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

April 26, 2021

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

April 23, 2021

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

April 22, 2021

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

April 21, 2021

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

April 21, 2021

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

April 20, 2021

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

April 19, 2021

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

April 16, 2021

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

April 15, 2021

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.

Venture Capital: Scale AI Scores $325M Series E Round At A $7.3B Valuation

April 14, 2021

Scale AI announced Tuesday its raise of $325 million in a Series E funding co-led by Dragoneer, Greenoaks Capital, and Tiger Global. New investors in the round included Wellington Management and Durable Capital as well as existing investors Coatue, Index, Founders Fund, and YC.

Artificial Intelligence: China’s Media Censorship Could Get An AI Edge

April 14, 2021

China’s huge censorship machinery could get a dramatic leg up from new research that has developed an AI-powered text censor to delete objectionable material on the Internet with very high accuracy.

Artificial Intelligence: How AI Makes Waste Management Forecasts Easier

April 13, 2021

Cities across the world are grappling with the problem of finding landfill sites and new land as solid waste tonnage rises with population and economic growth. How does one forecast, over the long term, solid waste volumes and landfill requirements? AI could be the answer to the problem.

Artificial Intelligence: Microsoft Eyeing Acquisition of Nuance Communications (Bloomberg)

April 12, 2021

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.

FinTech: Saudi Arabia Could Add $293B To Its GDP Using Intelligent Automation

April 12, 2021

A new report by EY and Automation Anywhere titled “Saudi Arabia: showing the way to the world,” says Saudi Arabia’s use of intelligent automation could double the size of its economy to $1.6 trillion, adding an additional $293 billion by 2030. A combination of AI and Robotic Process Automation (RPA), intelligent automation could make huge strides in the improvement of technology-led productivity.

Artificial Intelligence: AI To Keep An Eye On Indian Jail Holding Mafia Don

April 9, 2021

AI-based drone cameras will maintain an aerial vigil on the Banda district jail in the Uttar Pradesh state of India. Lodged in the jail is notorious gangster-cum-politician Mukhtar Ansari, and Director-General Prisons, Anand Kumar, is leaving no stone unturned in ensuring maximum security.

Venture Capital: India’s ShareChat Scores $502M Raise From Top Investors

April 8, 2021

Sharechat, the Indian AI-powered social media and content-sharing platform, announced a raise of $502 million in a round led by Tiger Global. Twitter (NYSE: TWTR), Lightspeed, and Snap (NYSE: SNAP) also participated in the investment round which valued the start-up at $ 2.1 billion.

Artificial Intelligence: Indoor Farming Company AppHarvest Acquires Root AI

April 8, 2021

AppHarvest, Inc (NASDAQ: APPH), an indoor and sustainable farming company, announced today its acquisition of Root AI, a startup that develops AI-powered robots for use in indoor farming and harvesting. The deal includes Root AI’s signature robotic harvester dubbed Virgo. AppHarvest will pay about $60 million for the acquisition, comprising $10 million in cash and the rest in shares.

Artificial Intelligence: Google’s Ethical AI Crisis Escalates; Samy Bengio Resigns

April 7, 2021

Renowned AI authority and senior AI research manager at Google (NASDAQ: GOOGL), Samy Bengio, has resigned. His departure, scheduled for April 28, shows the rising discord within Google’s AI ranks, as it follows on the firings of researchers Timnit Gebru and Margaret Mitchell. The two women reported to Bengio. Google later handed over the charge of Bengio’s department to Mariam Croak.