The AI Eye: SoftBank's Arm Launches AI Chip for Tiny Devices, mCloud (TSXV: MCLD) to Acquire AI Tech from AirFusion and Minerva Intelligence (TSXV: MVAI) Completes Proprietary AI Development
Point Roberts, WA and Vancouver, BC - February 10, 2020 (Investorideas.com Newswire) Investorideas.com (www.investorideas.com), a global investor news source covering Artificial Intelligence (AI) brings you today's edition of The AI Eye - watching stock news, deal tracker and advancements in artificial intelligence.
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The #AI Eye: SoftBank's Arm Launches AI Chip for Tiny Devices, mCloud (TSXV: MCLD) to Acquire AI Tech from AirFusion and Minerva Intelligence (TSXV: MVAI) Completes Proprietary AI Development
Today's Column - The AI Eye - Watching stock news, deal tracker and advancements in artificial intelligence
Stocks discussed: (TYO:9984) (TSXV:MCLD) (TSXV:MVAI)
Arm Ltd, a subsidiary of SoftBank Group Corp. (TYO:9984), announced the launch of an AI chip for "tiny devices such as sensors designed to detect patterns in human speech or other streams of data," according to a report from Reuters today. Today, the company released the new Cortex M55 processor coupled with its Ethos-U55 "neural processing unit," though the report indicates that "chips with the technology" will not hit the market until next year. These chips will "aim to carry out the special kinds of math needed by artificial intelligence (AI) software that can detect vibrations or pick out spoken keywords from a user."
mCloud Technologies Corp. (TSXV:MCLD) has signed a contract to acquire AI visual inspection and monitoring technologies from AirFusion, Inc. Dave Weinerth , mCloud's President, Smart Energy, commented:
"AirFusion's AI-derived results from wind turbine blade images are the best we have seen, reducing processing times by over 90% without compromising high accuracy. This acquisition in combination with AssetCare gives mCloud a serious competitive edge over other wind blade inspection providers."
One particular acquisition will be AirFusion's Newton Engine, "which uses patent-pending AI to identify and classify damage from images of wind turbine blades." This will be integrated into mCloud's AI-powered AssetCare platform.
mCloud stock is very much in the green today, posting growth of about 6.7 percent at press time. For more on mCloud, check out the Investorideas.com podcast interview with the company's CEO Russ McMeekin from March 2019, in which we discuss the AssetCare platform and its application in energy consumption.
In a corporate update released today, Minerva Intelligence Inc. (TSXV:MVAI) has announced that it has completed "the development of its proprietary artificial intelligence reasoning technology and is now implementing its strategy of delivering its solutions for commercial use through two primary product platforms: TERRA and GAIA." TERRA is an AI mining suite comprising the following products:
- SolACE - Prepares data for cognitive AI and machine learning applications
- Target - Cognitive AI application for evaluation of surface exploration data
- DRIVER - Cognitive AI application for evaluation of mine and exploration drilling data
- LEO - Document management system optimised for interoperability with AI systems
GAIA allows users to generate and navigate hazard susceptibility, using cognitive AI capabilities to mimic "human-expert reasoning about natural hazards and provides explainable hazard assessments." Scott Tillman, CEO of Minerva Intelligence, explained:
"2019 was focused on ensuring that our product suite was ready for market and that our team would be able to sere the needs of prospective clients. We have accomplished this and have launched into the commercialization phase of our business. We are looking forward to engaging with a number of customers and validate to the market the commercial applications of our unique technology."
White House to Propose "Doubling of AI R&D Funding" in 2021 Budget Proposal
A report from Reuters indicates that today The White House plans to propose a considerable increase in funding for artificial intelligence, as well as "quantum information sciences research and development in its 2021 budget proposal." Specifically, this will entail a doubling of AI R&D funding from $973 million to nearly $2 billion by 2022. Though he declined to confirm the exact dollar amount, White House adviser and U.S. chief technology officer Michael Kratsios revealed in a statement that the budget will "ensure America continues to lead the world in critical technologies like AI and quantum. America's economic strength and national security depend on it."
Excluded from the previously mentioned figures are Defense Department spending on AI research. According to the report:
"The budget proposal on Monday will include a 70% increase for National Science Foundation (NSF) for AI-related grants and interdisciplinary research institutes, rising to more than $850 million…"
Sam Mowers, Investorideas.com
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