Swiss ABB Makes Strategic Investment In Artificial Intelligence & Machine Learning

By: | December 2nd, 2014

IndustryTap has reported on Vicarious, the artificial intelligence startup being funded by Mark Zuckerberg, Jeff Bezos, Elon Musk and other tech titans.

The company is considered a technological and scientific leader in its use of the human brain’s computational principles to develop software that thinks and learns as humans do. This week, in a new round of fund raising, ABB Technology Ventures, the investment arm of Zürich, Switzerland-based ABB, global leader in power and automation technologies, made a strategic investment in AI.

According to Rediff Business, “this is the latest in a series of investments in cognitive technologies, artificial intelligence, man-machine interfaces, robotics, smart devices and open source projects.”

Artificial Intelligence: The Engine That Can

Many of the largest companies in the world, including Facebook and Google, believe artificial intelligence has the potential to convert large amount of information at the center of their businesses into valuable data for their own use and as a marketable service.

These companies are beginning to use AI to predict what users want, even before users know it. Both Facebook and Google, tasked with serving up the most relevant information to their users, are wagering that AI is the technology needed to make sense of unprecedented amounts of information.

Strategic Investment For ABB

ABB serves more than a dozen major multinational industries including automotive, chemical, energy, life sciences, mining, oil and gas, railway, solar power and wind power. The company helps many of the world’s largest corporations automate industrial and factory processes and leverage information to improve plant efficiency and performance.

With the advent of the Internet of Things (IoT) the amount of information is about to explode, and AI will be needed to make sense of it.

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Michael Cooney

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