The Strategist

Qualcomm creates $ 100 million fund to invest in AI

11/29/2018 - 12:00

The American chip maker Qualcomm Inc has created a $ 100 million fund to invest in startups working on artificial intelligence technologies, reports Reuters.

pestoverde via flickr
pestoverde via flickr
The new organization will focus on AI technologies that will be used in unmanned vehicles, robotics and machine learning platforms.

Qualcomm Ventures AI Fund has already invested in AnyVision startup, which is engaged in face and object recognition technology. The amount of investment is not specified.

Qualcomm has joined a number of chip manufacturers, such as Intel Corp, Micron Technology Inc and Nvidia Corp, which are investing in artificial intelligence.

Micron announced in October that it plans to invest up to $ 100 million in start-ups in the field of artificial intelligence. The venture capital division of Intel in recent years has allocated more than $ 1 billion to develop this technology.

Recall, Amazon is developing artificial intelligence chips. According to The Information, an artificial intelligence chip will work on devices with Alexa's personal assistant.

This technology will increase the speed of information processing and reaction gadgets. Most of the data will now be processed directly on the device, while previously they were analyzed in the cloud.

This development will allow Amazon to catch up with competing Apple and Google, which are already producing their own artificial intelligence chips. At the same time, competition between traditional chip makers Intel and NVidia and their former customers of Amazon, Apple and Google is growing.

According to forecasts of the analytical company International Data Corporation (IDC), the global cost of artificial intelligence technology will increase almost threefold in the coming years.

Experts expect that in 2018 the volume of the global market for cognitive systems and solutions in the field of AI will be $ 19.1 billion, an increase of more than 54% compared to last year. In 2021, the figure will reach $ 52.2 billion, and the average annual growth rate will be measured at 46.2%.