AI software market posts huge growth amid digital transformation boom June 24, 2019 Revenue from AI software soared more than 63 per cent to $846m (£664m) last year amid a surge in firms investing in the new technology. Read more: David Cameron takes up role at US artificial intelligence firm Robotic process automation (RPA), which provides AI tools for businesses, is now the fastest-growing segment of the enterprise [...]
Would you want to be trained by an AI? June 7, 2019 By 2025, five billion people will be connected to each other through four billion smartphones and 50bn other devices. This will produce new data at unimaginable rates. Add in exponential growth in artificial intelligence (AI) – which is predicted to generate 1.7MB of data for every person every second by this time next year – [...]
Tencent backs top AI startup in $24m injection May 20, 2019 A host of major businesses and venture capital firms have joined in a $24m (£18.9m) funding round for a Prowler.io, valuing the Cambridge artificial intelligence (AI) startup at $100m. Chinese media giant Tencent led the round, with publishing house Pearson and Monzo-backer Passion Capital also joining. Other investors included Amadeus Capital Partners, Atlantic Bridge, Cambridge [...]
Small businesses to be given artificial intelligence boost May 7, 2019 London may be the artificial intelligence (AI) capital of Europe, but City Hall believes the benefits of AI are failing to trickle down to small businesses. The mayor Sadiq Khan will give 200 small businesses in London a share of £200,000 to enhance their use of AI. “London is a leading hub for innovation in [...]
IBM’s Watson supercomputer to solve the mobility problem in tie-up with Volkswagen’s SEAT February 26, 2019 IBM and Volkswagen's Spanish unit SEAT have unveiled a standalone app that hopes to predict what mode of transport and route is best for urban users through artificial intelligence (AI). The app, called Mobility Advisor, will utilise the power of IBM's Watson supercomputer to present commuters with the best way to navigate cities, whether that's [...]
Microsoft goes all-in on holograms in the workplace with the new Hololens 2 February 24, 2019 Microsoft's long-awaited update to its mixed reality headset, the Hololens 2, has placed big bets on businesses including holograms in their day-to-day working life. Revising several major issues to the 2016 Hololens such as comfort and immersion, the biggest change to the Hololens 2 is the price. Coming down 30 per cent from the cost of [...]
Blackberry completes $1.4bn deal for AI firm Cylance February 22, 2019 Blackberry has completed its $1.4bn acquisition of US artificial intelligence company Cylance. The deal will drive forward the development of Blackberry Spark, the Canadian company’s secure communications platform for the Internet of Things. Read more: Blackberry buys artificial intelligence firm Cylance for $1.4bn Cylance will continue to operate as a separate business unit within the [...]
Fintech startup Revolut pushes ministers for fast-track tech visas February 21, 2019 London will fall behind as a world-leading fintech hub if the government does not prioritise incoming tech talent, the chief executive of Revolut warned today. Nikolay Storonsky, a Russian native who started digital bank Revolut in 2015, called on ministers to introduce a fast-tracked visa process for technology workers, particularly within software development and data [...]
UK AI sector funding hits record £1bn for 2018, almost the same as the rest of Europe combined February 20, 2019 Investment into the UK’s artificial intelligence (AI) sector from venture capital firms reached a record $1.3bn (£998m) last year, almost as much as the rest of Europe combined. The new figures from Dealroom represent a fourfold increase in five years, up from a total of $200m in 2014. In comparison, French AI startups raised $400m last [...]
Peltarion, the AI startup used by Nasa, Ocado and Tesla, raises $20m February 14, 2019 Swedish artificial intelligence (AI) startup Peltarion is heading across the Atlantic after closing a $20m (£15.5m) funding round. The series A funding was led by Euclidean Capital, which has also backed the likes of popular DNA ancestry startup 23 And Me. Existing investors FAM, which is owned by Swedish investor family the Wallenbergs, and EQT Ventures also took [...]