Crowdfunding platform raising $100 million fund for AI

OurCrowd, a Jerusalem-based crowdfunding investment platform comparable to AngelList, is raising a $100 million fund to finance early-stage companies focusing on artificial intelligence, deep-learning and robotics. Unlilke AngelList, a popular destination for startups seeking capital, OurCrowd acts more like a traditional fund by vetting deals and investing in companies alongside its users. “This ... »

Danske Bank’s wealth management robot now has 11,500 clients

Copenhagen-based financial firm Danske Bank has revealed that 11,500 new clients are now using an investment service provided by a robot. The robot is called June and targets retail clients and small businesses that normally would not have the resources to work out what to do with their surplus cash. Customers encountering June for the »

Capgemini to help accelerate robotic automation across UK Central Government

Capgemini, the multinational professional services and business consultancy, has announced a two-year agreement with the UK Cabinet Office to develop a Robotic Process Automation (RPA) Centre of Excellence (CoE). RPA describes a process in which software is programmed to autonomously carry out basic tasks across applications. The CoE, which is now up and running, will »

UBS seeks to expand workforce in artificial intelligence

UBS, the Swiss global financial service company, is expanding its workforce in artificial intelligence. AI refers to technology capable of performing tasks that normally require human intelligence. Last year, UBS rolled out a “robo-advisor” that uses algorithms to help customers build and manage portfolios with little or no human interaction. AI technology is also being »

Banks Look to Step Up Employee Surveillance After Latest Scandal

Banks Look to Step Up Employee Surveillance After Latest Scandal

Lenders asked International Business Machines Corp. if it were possible to use the technology to also watch retail-banking salespeople, loan officers and other workers, according to Marc Andrews, a manager on the company’s Watson financial services team. Several of the biggest U.S. banks, as well as some regional banks, are testing the software, Andrews said. »

Synechron bets large on AI in testing

Synechron bets large on AI in testing

Synechron, a New York-based IT consulting company focused on the financial services, is investing in artificial intelligence technologies in testing. The technology firm hopes to use the technology to power predictive analytics and natural language processing to achieve savings of 30% for clients of their testing services, said Ashish Nangla, senior director at Synechron. While »

Microsoft Starts New Venture Fund With Investment in Bengio’s Element AI

Element AI, a Montreal-based research lab, started by Yoshua Bengio and others, will get an undisclosed amount from Microsoft Ventures, Redmond, Washington-based Microsoft said in a statement Monday. The size of the fund, which will back AI companies, wasn’t disclosed. “The kinds of companies in this fund will help people and machines work together to »

Google’s AI Brainiacs Achieve Speech-Generation Breakthrough

Google’s DeepMind unit, which is working to develop super-intelligent computers, has created a system for machine-generated speech that it says outperforms existing technology by 50 percent. U.K.-based DeepMind, which Google acquired for about 400 million pounds ($533 million) in 2014, developed an artificial intelligence called WaveNet that can mimic human speech by learning how to »