Google Acquired Artificial Intelligence Company for $400 million
Google is continuing to spend on its space-age projects. According to Re/Code Giant search firm has just spent $400 million for acquiring Deep Mind -a secretive new artificial intelligence startup. However, it is reported by The Information that this deal is settled for $500 million just after when Deep Mind and Facebook failed to settle a deal.
Deep Mind is a London based startup that was founded by neuroscientist and child chess prodigy Demis Hassabis, former Skype developer Jaan Tallin, researcher Shane Legg, and others.
Hassabis sent an email to Daily Mail and told,“We’re really excited to be joining Google. This partnership will allow us to turbo-charge our mission to harness the power of machine learning tools to tackle some of society’s toughest problems, and help make our everyday lives more productive and enjoyable.”
Without any doubt, this startup would be doing something really great that pushed Google to acquire it. At this present, we don’t know what exactly talented people of Deep Mind are doing; it is still a mystery for us. However, we found their goal stated on Company’s website, its goal is to “combine the best techniques from machine learning and systems neuroscience to build powerful general-purpose learning algorithms.”
According to Re/Code, company has been creating a wide variety of approaches and techniques of Artificial intelligence and “and applying them to various potential products including a recommendation system for e-commerce.” There are some other reports regarding Deep Mind, these reports highlight that company has deep involvement in “Deep learning”. They are up to different wavy of developing some smart machines which have the capability to learn just like human beings.
There is also a report that clears that Google is establishing an ethics board only to make sure that new technology isn’t abused in anyway. Establishment of this board is might be an answer to those critics who remain concerned about AI and its abusive use. Complete details of ethics board are as bare as information of Deep Mind’s acquisition.
It is good to know that Google is not alone to invest on Artificial Intelligence. Quite recently,Facebook hired Yann LeCunn (New York University Professor) for start its new AI Lab. Yahoo acquired a photo analysis Company “Look Flow” for working on its own deep learning plan.
Deep Mind purchase is only a part of Google’s futuristic acquisition. Before this AI startup, search engine Giant bought eight robotic companies within last seven months. It is simply unclear what Google wants to do with these acquisitions. However, what is clear is that Google is planning something big and innovative. You may hear that Amazon’s CEO Jeff Bezos made an announcement that they would build drones capable of delivering packages to recipients.
Macquarie Analyst -Ben Schachter wrote, “Google’s robotics ambitions and Bezos’s drone PR should be a reminder to investors that they are not only investing in the trend lines of the current financials, but in the future vision and broad ambitions of these companies.Amazon and Google clearly are going to invest in projects that may not bear fruit for 5-10 years, if at all.”