Social Media Sidebar

Announcement

Please sign up, comment on articles and bring your friends!

Current poll

PlanetTech is asking:

What do you think about our new web site?

Love it, indeed
Really good solution
Same as old one
The old one was better
This is a new option

Quote of the day

Just because something doesn’t do what you planned it to do doesn’t mean it’s useless.

 

Thomas Edison

Salesforce to launch $50 million artificial intelligence fund

RATE THIS! +22
Posted in Software on 20th Sep, 2017 06:55 PM by Alex Muller

The venture wing of Salesforce is launching a $50 million fund to invest in start-ups employing AI. Salesforce, whose software helps businesses sell, market and track customer activity, has been increasing its use of AI since launching its ‘Einstein’ technology a year ago, which uses automation and data-driven features.

 
“There’s a tremendous surge in companies who are providing unique AI innovations,” said John Somorjai, executive vice president of Salesforce Ventures. “We want more of those companies to do these innovations on Salesforce’s platform.”
 
Salesforce revenues and income have grown rapidly in recent quarters, and it has boosted spending on research and development in the face of tough competition from rivals such as Oracle Group and Microsoft Corp.
 
Venture capital investment in AI start-ups is rising quickly. For 2017, global financing for AI start-ups is projected to surpass $10.8 billion - nearly double the $5.6 billion spent in 2016, according to research firm CB Insights.
 
Since its founding in 2009, Salesforce Ventures has deployed more than $700 million in funding to over 250 start-ups, Somorjai said. With its new fund, Salesforce is hoping to attract more developers to build AI apps that work in tandem with its products.
 
“What we’re doing with this fund is really doubling down on that commitment to bring more AI-centric solutions to our customers,” Somorjai said.
 
The company said that it was also expanding the number of AI tasks employed by its ‘Einstein’ technology.

Tags: AIdeep learningmachine learningsoftwareneural network

Read original article » Back to category

Comments



 

Recent headlines

  • Posted in Science on 2018-07-16 22:45:47
    Sweden to reach 2030 renewable energy goal in 2018..read more
    Posted in Science on 2018-07-16 21:35:49
    SpaceX on track for BFR tests in first half of 2019..read more
    Posted in Science on 2018-07-16 02:13:49
    How to predict the side effects of millions of drug.....read more
    Posted in Software on 2018-07-16 02:08:38
    Blockchain beyond the hype: What is the strategic.....read more
    Posted in Medicine on 2018-07-15 03:07:49
    3D Color X-Rays Now Possible Thanks To CERN Technology..read more
Posted in Business on 2013-10-10 01:33
China is working towards a manned lunar mission in about.....read more
Posted in Business on 2013-10-20 07:17
Spacex says China is their main competitor for commercial.....read more
Posted in Software on 2013-10-20 06:43
Pirate Bay Browser Clocks 1,000,000 Downloads..read more
Posted in Medicine on 2013-10-10 02:10
Google reportedly investing hundreds of millions into new.....read more
Posted in Medicine on 2013-10-14 03:13
Endothelial Cells Can Repair and Regenerate Organs,.....read more
Posted in Science on 01.01.2010
Spacex says China is their main competitor for commercial.....read more
Posted in Science on 01.01.2010
Staring at Your Phone Could Be Making You Short Sighted..read more
Posted in Science on 01.01.2010
Oculus Rift virtual reality headset coming to mobile, but.....read more
Posted in Science on 01.01.2010
China is working towards a manned lunar mission in about.....read more
Posted in Science on 01.01.2010
Delivering drugs via nanoparticles to target mitochondria..read more

Recent Blog Posts

  • Posted by AlexMuller
    In five years quantum computing will be mainstream..read more
    Posted by AlexMuller
    Google partners with Johnson and Johnson to make lower cost.....read more
    Posted by AlexMuller
    Electron holography microscope with spatial resolution down to.....read more
    Posted by AlexMuller
    Lower cost advanced Nuclear power could dominate future US energy..read more
    Posted by AlexMuller
    Why Hasn’t AI Mastered Language Translation?..read more

Login to your Account

Login to your PlanetTech Account here

Username:
Password:
Remember me
or

Create a New Account

You just need username and password

The following errors occured:
Username:
Email:
Password:
Verify password:
Remember me