Qualcomm has started a new startup fund designed to give on-device Artificial Intelligence (AI) projects a chance. The so-called Qualcomm Ventures AI Fund invests up to 100 million dollars in “startups that transform AI”, reports ZDNet.
The company explains that the fund will focus on start-ups that share the vision that on-device AI will become more powerful and widespread, with an emphasis on those that are developing new technology for autonomous cars, robots and machine learning platforms. The company has been investing in its own processors and hardware for on-the-go AI, augmented reality and virtual reality applications for some time now. It also invests in 5G.
The company’s processors – including the Snapdragon 710 from May this year and the Snapdragon 670 from August – were created to support AI applications and neural networks in mid- and high-range mobile devices. It focuses primarily on AI applications in photography and video.
Qualcomm further announced that it has invested in AnyVision, a startup that focuses on on-device AI-based face, body and object recognition. The startup is still at an early stage.
The company wants to make “AI accessible to the world”, and has already created the platform Better Tomorrow. That platform provides on-demand object recognition technology, including human recognition, people who may be interesting to follow, heat maps and objects. This platform is offered on-premise as well as in the cloud.
AnyVision has between 101 and 250 employees and was able to raise 28 million dollars in the investment round in which Qualcomm also invested. Qualcomm states that AnyVision’s technology minimizes the dissemination of data, alleviating privacy concerns.This news article was automatically translated from Dutch to give Techzine.eu a head start. All news articles after September 1, 2019 are written in native English and NOT translated. All our background stories are written in native English as well. For more information read our launch article.