CB Insights reports on artificial intelligence (AI) startups that have been acquired since 2012; top acquirers include Google, Apple, Facebook and Intel; 200 AI companies have been acquired since 2012 and the first quarter of 2017 reported 34 AI acquisitions including the largest deal from Ford which acquired Argo AI for $1 billion. Source
Chinese fintech startup Yongqianbao has developed an artificial intelligence (AI) solution that automates credit underwriting through data-mining algorithms and AI; the fintech company will offer the service to the under-served sector; the company is currently training an AI model with over 1,000 factors for credit underwriting assessments; the firm is planning for a Series C investment round and will offer 24/7 automated credit when the platform's model is fully developed. Source
At IBM's InterConnect conference this week in Las Vegas the company discussed its plans for cloud, artificial intelligence and blockchain, three areas that it will be increasingly focusing on for the future; the IBM Cloud will be the base of the growth strategy with artificial intelligence and blockchain driving a full range of capabilities. Source
Google's artificial intelligence unit, DeepMind, is using blockchain technology to build an auditing system for analyzing and storing healthcare data; the system will mainly focus on tracking all of a person's hospital health data and centrally storing it for access and ownership by individuals; DeepMind will also make its system available through open source software allowing for the technology to be utilized for broader solutions including auditing identities, financial records and private corporate data. Source
Lantern Credit has acquired the Abstract Regression Classification (ARC) Machine Learning Library to enhance its proprietary machine learning solution, Beam AI; the firm expects the acquisition and machine learning enhancements to improve its credit advice, credit offers and support for financial institutions; according to Chad Swensen, CEO of Lantern Credit, "Leveraging the ARC software to advance the Beam AI technology produces the most advanced artificial intelligence and machine learning application in the consumer credit management space." Source
According to a new report from Accenture, nearly half of investment in insurtech startups globally is going towards artificial intelligence (AI) and internet of things (IoT) technology; the report, titled, "The Rise of InsurTech," includes analysis from CB Insights data on 450 insurtech deals over the last three years; the report was released with the launch of Accenture's Fintech Innovation Lab in London, which will include a focus on insurtech. Source
DataRobot has raised $54 million for its machine learning technology service that can plug in and provide intelligence to any type of business; the $54 million funding round was led by existing investor New Enterprise Associates; the new funding brings total capital raised to over $100 million. Source
Baidu is active in artificial intelligence (AI) development and could provide an investment channel for investors seeking to gain from the innovative technology; the company is integrating AI into nearly all aspects of its business and in September launched artificial intelligence platform "Baidu Brain" which integrates AI in search, news feeds, maps, Nuomi and PostBar; the firm is also evolving AI for healthcare and actively developing autonomous driving solutions powered by AI; overall, its business model can easily integrate AI while it also provides products for AI entrance in other markets. Source
As the global leader in cognitive solutions, IBM's Watson is one of the top artificial intelligence offerings for financial services companies; Brian Walter is IBM's Global Leader of Watson Client Insights and Cognitive Experience for the company's Watson Financial Services Solutions group; Brian Walter gave a keynote speech on Tuesday at LendIt USA and also talked with Forbes about how artificial intelligence is changing the financial world; in his interview with Forbes he discusses the use of cognitive solutions for financial services compliance, customer service and customer acquisition; also talks about IBM's cognitive solutions for supporting banks, fintechs and developers. Source
Cambridge, Massachusetts-based artificial intelligence (AI) platform Kensho has built a solution that can successfully predict market trading and is receiving significant attention from Wall Street; its AI-powered platform helped the company identify currency trends following Brexit that resulted in substantial gains from trades against the British pounds decreasing value; the company has announced a new partnership with S&P Global and has received investment from Goldman Sachs, JPMorgan Chase, Bank of America Merrill Lynch, Morgan Stanley, Citigroup, Wells Fargo, General Catalyst, Breyer Capital and Google Ventures; the firm is led by Daniel Nadler, a Harvard trained Ph.D; its new partnership with S&P Global Market Intelligence will supply new data feeds to power its AI analysis and support its numerous solutions including the Kensho Global Event Database and Kensho's Knowledge Graph; the business is expected to become integrated with Wall Street's mainstream banks, emerging as one of the market's leading solutions for AI-powered trading. Source
