Published By : 14 Jun 2018 | Published By : QYRESEARCH
It’s official now. Samsung plans to dive deeper into artificial intelligence. To that end it has announced a new fund for startups, particularly in the domain of AI technologies. It is called “Samsung NEXT Q Fund.” The firm aims to generate seed capital and Series A capital for startups whose focus is on solving AI problems. It is also meant to help those companies that want to leverage AI to solve computer science problems.
As per an announcement by the company, the new fund is expected cover various areas such as scene understanding, learning in simulation, human computer interaction, and problem learning programs. The fund does not have its own kitty. Instead, it draws money from the U.S Next Fund which is worth US$150 million. The Next Fund came into being last year and is aimed at companies, operating in newly emerging tech verticals, which have been just formed.
New Fund Already Invests in New Ventures
Already, the Q fund has invested in a few ventures. For example a startup by the name of Covariant.AI that teaches different skills to robots is one of the beneficiaries of its funding.
While software took the world by storm in the past ten years, AI now seems poised to disrupt software in the next couple of years. Hence, the Korean firm’s ambition to fund promising AI startups that would likely offer something unheard of before.
Principal investor of Samsung Next Vincent Tang thinks machine learning can enable to better computer systems, algorithms, and data structures. In this manner those can tackle difficult computer science problems.