Nuritas, headquartered in Dublin, has already proven it’s up to the task. The startup used AI to discover an ingredient to help treat inflammation which is expected to reach sports nutrition products by the end of 2019.

The debut ingredient was discovered as part of a collaboration with BASF, a German chemical giant. Whereas the standard to discover a new ingredient is between five and seven years using traditional methods, the pair used AI to discover it in just two.

“To have something in market that quickly is just exceedingly disruptive by comparison to what’s normally the case with that particular arena,” Nuritas CEO Emmet Browne told Yahoo Finance UK.

While it’s unclear what the next discoveries will be, Nuritas is expecting five more ingredients within the next 12-18 months. The company’s success rate of 60 percent is far higher than the industry standard.

“In effect, what we do is use artificial intelligence to unlock nature’s secrets. That’s the depth of it.”

Nuritas has raised £40 million from a series of high-profile investors which includes Salesforce founder Marc Benioff, and U2’s Bono and the Edge.

AI is being increasingly used in healthcare in life-changing (and often life-saving!) ways. You can find all our AI in healthcare coverage here.

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SenseTime raised more than $1.2 billion last year; including a round announced in May that valued it at more than $4.5 billion.

According to Bloomberg sources, the company is aiming for $2 billion more funding but the information is private. The sources claim investor Alibaba is working on the fundraising.

Following a fundraising round in 2018, Alibaba Executive Vice Chairman Joe Tsai said:

“We are especially impressed by their R&D capabilities in deep learning and visual computing. Our business at Alibaba is already seeing tangible benefits from our investments in AI and we are committed to further investment.”

Other investors include Fidelity International, Silver Lake Partners, and Hopu Capital. A stake in the company was sold to chipmaker Qualcomm in 2017 when the company was valued at more than $1.5 billion.

SenseTime is particularly valuable due to providing technology for the Chinese government’s vast surveillance network. Its ‘Viper’ system aims to process and analyse over 100,000 simultaneous real-time streams from traffic cameras, ATMs, and more to automatically tag and keep track of individuals.

Earlier this year, SenseTime CEO Xu Li called for facial recognition standards to be established for a ‘healthier’ industry.

With China aiming to become a world leader in AI, investors are flocking to invest in related companies. The startup claims to be experiencing around 400 percent growth in recent years and has expanded beyond surveillance to industries such as connected cars.

SenseTime reportedly serves over 400 customers including high-profile brands such as Honda, Nvidia, and Huawei.

deepgeniusai.com/">AI & Big Data Expo events with upcoming shows in Silicon Valley, London, and Amsterdam to learn more. Co-located with the IoT Tech Expo, , & .

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