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PayPal To Employ 600 Techies In AI and ML Domain Soon

2Jul By Gauri SinghNo Comments

BUSINESS

PayPal To Employ 600 Techies In AI and ML Domain Soon

The American online payment company Paypal is considering India as a market for increasing growth and therefore, is planning to appoint over 600 techies by the end of this year that is by December, in the machine learning (ML) and artificial intelligence (AI) sector. Paypal is one of the largest online payment services till date that supports online money transfers and serves as an electronic alternative to traditional paper methods like cheques and money orders. "We plan to increase the headcount by 600 in 2018. Some of the job roles that PayPal intends to hire for include application developers- Java, Node JS; back-end developers- data engineers, data experts and product managers," Guru Bhat, GM Technology & Head of Engineering, PayPal said. "For PayPal, the India centres are key...

29Jun By Gauri SinghNo Comments

CHINA

Ford and Baidu Partner To Build Smarter Cars in China

The American Multinational automaker, Ford has signed a contract with China’s biggest search engine company Baidu to introduce artificial intelligence and smart connectivity in cars in China. Ford is one of the most trusted auto company in the world and has claimed that it would develop new in-vehicle infotainment systems and digital services which will be based on Baidu's voice-interaction system, DuerOS. The Ford owners in China can make use of these features. The feature will enable the people to communicate and command their vehicles using natural language and allow people to easily access information and services that they need in daily life. "As part of our 'In China, For China' strategy, we look forward to working closely to offer smart products and solutions that can make pe...

Microsoft Acquires a Startup To Bolster AI Potential

21Jun By Gauri SinghNo Comments

ACQUISITION

Microsoft Acquires a Startup To Bolster AI Potential

The world’s largest PC software company Microsoft has officially announced that according to an agreement, it is soon going to acquire an artificial intelligence (AI) startup called Bonsai. Founded in 2014, the AI company Bonsai is headquartered in San Fransisco and the primary motive of Microsoft behind this acquisition is to enhance and bolster its AI and machine learning potential. Microsoft stated that Bonsai has developed technology that will let experts with AI experience work with autonomous systems. “To realize this vision of making AI more accessible and valuable for all, we have to remove the barriers to development, empowering every developer, regardless of machine learning expertise, to be an AI developer,” said Gurdeep Pall, Microsoft Corporate VP. “Bonsai has made tremend...

Inshorts Launches AI Based News Summarization on its App

11Jun By Gauri SinghNo Comments

Tech

Inshorts Launches AI Based News Summarization on its App

The online news aggregator application called Inshorts has inaugurated artificial intelligence (AI) based information summarization on its platform. Inshorts is a news app that chooses and picks latest and best news from various national and international sources and summarises them to present in a short and crisp 60 words or less format. The attribute of the app is built on Rapid60 algorithm which automatically summarizes a full-length news article to sixty words article brief along with a headline and a card image as well. In this regard, the words of Azhar Iqubal, CEO of Inshorts were that the human curation comes with a restriction on how many numbers of articles they can produce, and with this idea, they plan to increase the number of articles being published on its platform to ...

Reliance Jio on a Hiring Spree of Experts Under Akash Ambani

4Jun By Gauri SinghNo Comments

BUSINESS

Reliance Jio on a Hiring Spree of Experts Under Akash Ambani

The Mukesh Ambani-led Reliance Jio Infocomm has started its hunt for a team of experts to work under Akash Ambani regarding the Artificial Intelligence (AI) of the firm. Apart from AI, the company is also seeking for young people to work on machine learning and blockchain technology (a digital ledger in which transactions are recorded). It has been reported that Reliance Jio has already appointed some of the senior officials who are responsible for building this team. Akash Ambani is interestingly getting involved in this process and is being assumed to lead the initiative. The company is planning to set up this team in either of the two cities – Hyderabad or Bengaluru. An artificial intelligence (AI) oriented brand engagement platform called ‘JioInteract’ was launched by Reliance Ji...

Google Steps Back from Continuing the Military AI Project

4Jun By Gauri SinghNo Comments

USA

Google Steps Back from Continuing the Military AI Project

The Google employees have lately discovered that the most popular multinational technology company will withdraw from a contract to assist the military in making use of Artificial Intelligence (AI) to examine drone videos, followed with a disapproval by the workers. On Friday, An executive from Google's cloud team proclaimed and told the employees that the company would not attempt or desire to renew the disputable deal after it expires next year. When the company came across the fact that the military was associated with the US Department of Defence, it thrived the feeling of rebellion inside the internet titan. An internally drawn request or petition appealing for the authority of Google to remain away from the "business of war" gathered end number of signatures, however, some work...

World’s Highest-Valued AI Company Raises $1.2 Billion Within 2 Months

2Jun By Gauri SinghNo Comments

FUNDING

World’s Highest-Valued AI Company Raises $1.2 Billion Within 2 Months

China's leading artificial intelligence company, SenseTime has raised $620 million in its latest Series C+ round of fundraising, being the world's highest-valued AI company at a valuation of more than $4.5 billion. The company had raised $600 million last month Alibaba-led investors and Singapore’s state investment firm and now is back with an upraise. The latest funding of the startup is being carried on in association with some well-known and noteworthy companies - Fidelity International, Hopu Capital, Silver Lake and Tiger Global. SenseTime confirmed that Qualcomm, which formerly sponsored the firm, was also in this round. The new investment brought the amount raised to more than $1.2 billion and tripling its valuation in under a year. SenseTime is at present valued at over $4.5 bill...

26May By Sheldan RungasamyNo Comments

FUNDING

AI-Powered Location Intelligence Startup Raises $2 Mn Funding

LifeSight, an artificial intelligence-powered location intelligence platform based in Singapore, recently raised $2 million in a pre-Series A funding round led by shareholders of Provident Capital Partners, an investment firm based in Indonesia. The funds raised will be used to grow its engineering and data science abilities at its Bengaluru development centre as well as expand operations in other Asian markets in the next couple of years, according to a statement released by the company. LifeSight, which is run by LifeSight Pte. Ltd, saw the day in September 2017 by Rohit Maheswaran and Tobin Thomas. Before founding LifeSight, Maheswaran was operating as Chief Product Officer at Ebizu, an ad-tech company, while co-founder Thomas was responsible of sales and operations at AskMe, the ...

21May By Gauri SinghNo Comments

CHINA

China’s Meitu Pacts with British Museum to Launch a Woman’s Smartphone

China’s leading mobile internet company, Meitu along with the British Museum is all set to launch a limited edition smartphone by and large for the women. It brings forth Artificial Intelligence (AI) as well as beautification technology. It’s the first time that the British Museum has partnered with a smartphone company on a co-branded project. The design of the smartphone has been inspired by one of the best and famed Rococo artists named Antoine Watteau. The beautiful smartphone (a limited edition of Meitu’s V6) is priced at $1,101 (6,999 yuan). The sale of the phone starts from 20th May 2018. It is available from May 20 on jd.com and from May 30 at China Telecom retail stores. To add to the specifications, the smartphone has introduced Dual-pixel front camera fitted with Optica...

Flipkart Introduces New Audit Programme for Quality Check

21May By Gauri SinghNo Comments

News

Flipkart Introduces New Audit Programme for Quality Check

Flipkart, India’s one of the biggest online stores has announced that mandatory visits to the sellers’ location to audit their warehouses and merchandise will be done to keep a check on the quality standards and bring down the percentage of return. Though the company did not disclose their present return percentage, it’s quite clear that they have been facing a notable loss of revenue due to high return rate for the sellers as well as the marketplace. The fashion category comprises the major part of the returns and cancellations while the mobile and appliances have the least of it. A monthly report from the e-commerce company to its third-party sellers mentioned that they may anytime give a surprise visit to their warehouses and see if the warehouse and product quality standards are bei...

19May By Gauri SinghNo Comments

CHINA

COO Qi Lu walks away from Baidu

China’s top search engine Baidu stated that it’s former Microsoft executive Qi Lu will abdicate from his position and will no longer work for the same after July 2018. Talking about Baidu, it is a famous search engine based in China which is also known as the China's Google. They have rich experience in Chinese language searching and shares 80% of China search engine market. In a social media posting, Lu proclaimed that he joined the company in late 2016 and is now leaving the role in July due to some personal and family reasons. It’s been said that he is planning to spend more time with his family in the US. In this context, he stated, “For my next steps, I plan to work in research and investment areas, to help advance our shared mission to make a complex world simpler through te...

26Apr By Sheldan RungasamyNo Comments

FUNDING

Online Travel Marketplace Raises 1.6 Crore Funding

Tripshelf, an online travel marketplace announced on Wednesday that it raised a funding round worth Rs 1.6 crore from a group of investors which includes GEMS advisory, Alok Mittal of Indifi, Sachin Bhatia the co-founder of MakeMyTrip and TrulyMadly, and more. The funds raised will be used to consolidate its business operations and establish a long term asset vs. hyper growth capital. Tripshelf is currently enjoying a positive period after achieving several targets such as an annual Gross Transaction Value (GTV) of Rs 36 crore and an annual revenue run rate of Rs 1.5 crore. After this funding round, the startup is now setting its eyes on achieving a run rate of Rs 3 crore annually, and a GTV of around Rs 50 crore. This time, with the fresh capital, we look forward to on-boarding mor...