Netease Technology News June 24 news, according to "Connection" website reported that for artificial intelligence will reshape the whole world (and bring huge profits), Google just made another bet.

The company announced today that it has created a new venture capital fund focused on investing in AI and machine learning companies. The first public investment in the project was a round of financing of a $10.5 million U.S. venture capital firm Seattle Capital. Algorithmia creates an application store for algorithms that is designed to make it easier for any company to use machine learning technology.

Google refused to allow company personnel to talk about its new fund to the media. The fund has no name, nor did it announce the size of the funds. The company only said that the fund is headed by senior executive and Anna Patterson, vice president of AI engineering. Its existence and its lead role in the latest round of funding at Algorithmic meet Google's strategy of licensing artificial intelligence known as shovel strategy: the company believes that providing other companies with tools to use this technology is very beneficial. Illustration.

Both Google and Algorithm say that the project to sell AI shovels can "popularize" artificial intelligence technology. In short, they are chasing a business opportunity brought about by the rapid progress of machine learning technology in recent years. Many companies that have the idea of ​​applying this technology to their own businesses are unable to obtain the professional skills required for their application and practice because they are extremely tight.

Algorithmia is trying to provide a platform like the Etsy algorithm to meet that need. Developers can upload their work on them - for example, a machine learning model that can identify the year of production of a car model based on pictures - if other people or companies use it, then they can get paid. The company's system converts algorithms uploaded to the platform into cloud services that can be easily integrated into applications, websites, or other services.

Algorithmia's market platform currently has more than 3,500 algorithms, and their functions range from detecting nudity to parsing sentences. The private version of the platform is used by large companies in the financial, pharmaceutical and other industries to help developers deal with employee stockholding issues and algorithms for deploying them. “To make AI's vision of impacting all business processes become a reality, we need to build a lot of infrastructure.” Diego Oppenheimer, founder and CEO of Algorithmic, points out, “We can be said to be AI plumbers — —This is something people don’t want to do, but it has great business opportunities.”

Google is not the first company to set up a special AI fund, nor is it the first company to invest in a startup company that works on AI infrastructure. In December last year, Microsoft announced the establishment of an AI venture capital fund. In May this year, it invested in Bonsai, a startup company that helps companies use machine learning technology to develop products. IBM and Amazon also created AI-related funds, respectively. IBM's funds are for start-ups based on the Watson Developer Tools Kit. Amazon's funds are for Alexa's voice assistants.

However, large companies that invest money in emerging technologies do not mean that they will be able to take the lead in the industry in the future. Steve Blank, a senior entrepreneur at Silicon Valley and an adjunct professor at Stanford University, said that Google and other companies are investing in external companies is a reasonable move. After all, no company can hope to monopolize all creativity and talent in a particular field. But he also pointed out that the history of the development of the technology industry shows that the dominant companies like Microsoft of the 1990s and now Google are eventually defeated by startups that are more able to adapt to new ideas. (This phenomenon even has a special name: the innovator's dilemma.)

"Machine learning is different from inventing a better sword. It is more like inventing gunpowder," said Blank. "The smart startup company will know how to use it to attack large technology companies, just as the big technology companies now use new ones." Technology is attacking companies that are stronger than their strong old ones.” In other words, the tech giants have come up with funds to support creativity and innovation in machine learning, perhaps equivalent to handing their future competitors a gun full of ammunition. (Lebang)

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