Facial recognition provider SenseTime becomes the most funded AI startup

Chinese facial recognition provider SenseTime has become the world’s most funded AI startup following a $600 million funding round. The latest round of funding was led by Alibaba Group Holdings to extend SenseTime’s existing one billion dollar valuation. Other investors which took part in the series-C fundraising include Temasek Holdings and Suning.Com Co Ltd. While the company is yet to disclose its current valuation, Bloomberg reported it’s over $3 billion. Joe Tsai, Alibaba...

9 April 2018 | Funding

How artificial intelligence is changing the construction industry

Within the construction industry, artificial intelligence (AI) is beginning to change the way buildings are designed, constructed and utilised after construction. Artificial intelligence is where machines exhibit their own intelligence through using algorithms to solve problems using inputted data. By harnessing robotics, construction managers can utilise intelligent machines that can perform routine tasks that were once completed by humans, such as bricklaying. Alternatively, AI systems can...

16 March 2018 | Smart Cities

Sony is working on an AI-powered taxi system

Sony is leading an alliance of taxi companies to create an AI-powered hailing system. While Uber brought us on-demand taxi rides at the press of a button, Sony wants to use AI to further improve on the model. By studying conditions such as traffic, weather, and current events — taxis can be dispatched automatically where needed. One example, which many of us will have experienced, is the frustration of getting transport home after a concert. Sony’s algorithm would ensure a fleet of...

20 February 2018 | Connected Cars

BMW envisions AI-powered electric bike lanes

BMW has set forth its vision for the future of transport beyond driverless cars — an AI-powered bike lane for electric bikes. If you live in a major city, you will be all too familiar with traffic. Many are switching to alternative methods, such as cycling, but many feel vulnerable. Electric bikes are opening cycling to more people who may not be in the peak of their fitness or live in hilly areas where even long-term cyclists may struggle. These bikes are often faster than many people...

23 November 2017 | Smart Cities

Budget: UK to boost ‘industries of the future’ funding – including AI, IoT, and driverless cars

The latest budget from the UK government increases financial support for the ‘industries of the future’ which includes AI, IoT, and driverless cars. As the UK prepares to depart the EU, the Chancellor of the Exchequer is boosting funding of industries where the UK is already emerging a leader to help solidify its position on the world stage. £75 million will be set aside for artificial intelligence to build on the existing success stories from the likes of Cambridge-based DeepMind...

20 November 2017 | Funding

NVIDIA unveils Pegasus AI-powered supercomputer for self-driving robotaxis

NVIDIA has unveiled an AI-powered supercomputer called Pegasus to power ‘Level 5’ self-driving vehicles. The announcement was made during the company’s GTC Europe event in Munich, Germany, with the intention of making self-driving ‘robotaxis’ a reality. Pegasus is powered by four high-performance AI processors. It couples two of NVIDIA's newest Xavier system-on-a-chip processors — featuring an embedded GPU based on the NVIDIA Volta architecture — with two next-generation...

10 October 2017 | Connected Cars

SimplifAI keeps traffic flowing during busy periods

SimplifAI traffic management ai

SimplifAI is an AI-based traffic lights system designed to alleviate congestion and keep cities moving during particularly busy periods. Designed by Professor Lee McCluskey of Huddersfield University, the project has been awarded more than £850,000 by Innovate UK. Under the name of ‘SimplifAI’ it optimises timings at traffic lights to ensure the least possible disruption to journeys. Being stuck at traffic lights isn’t just frustrating; it also decreases productivity and has an...

11 August 2017 | Smart Cities