Published: Sat, December 01, 2018
Electronics | By Kelly Massey

Qualcomm launches $100M investment fund to push AI development

Qualcomm launches $100M investment fund to push AI development

Qualcomm has detailed a new $100m investment fund for startups working in the field of mobile Artificial Intelligence (AI). The new fund will concentrate on AI that will be used in autonomous cars, robotics, and machine learning platforms. When you're talking to Alexa, nothing is processed on your device, it gets taken to the cloud and gets scrunched there.

For now, Qualcomm has said that Qualcomm Venture Funds had made its first investment in AnyVision, an Israeli AI facial and body recognition startup. Qualcomm's ambitious 5G vision and strategic commitment to on-device AI goes hand in hand with mobile becoming the pervasive AI platform. The company's use of on-device AI minimises the spread of data, mitigating privacy concerns.

"We strongly believe intelligence is moving from the cloud to the edge", said Qualcomm CEO Steve Mollenkopf. As the AI moves toward Wireless Edge - a combination of essential on-device features and the Edge Cloud - the industry is beginning to realize the full potential of 5G.

Qualcomm Ventures Israel managing director Merav Weinryb said, "Qualcomm has announced its own AI platform, and it thinks it should switch to developing end device capabilities, in order to create AI everywhere". "Qualcomm's AI strategy couples leading 5G connectivity with our R&D, fuelling AI to transform industries, business models and experiences".

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"This fund builds on more than a decade of Qualcomm's AI research and its heritage of developing the foundational building blocks of low power processing and connectivity, which are essential for AI".

"Qualcomm is very big on the mobile platform and it's gaining ground in the IoT space, so there are a lot of tech partnerships we can provide, a lot of market insight we can provide from both the hardware and software perspective, and just given our exposure, in general, we have a pretty big portfolio of companies". Visit MarketWatch.com for more information on this news.

The division is a cross-functional, cooperative effort that encompasses all of the AI research that is taking place across the company. This investment assists AnyVision to expand into other industries and develop new AI applications.

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