Andrew Ng announces a 175-million-dollar fund to boost AI startups

Andrew Ng announces a millionaire fund to develop AI startups

The AI guru announced the formation of a startups incubator with the aim of building transforming companies and improving human life.

Photo: Andrew Ng.

Andrew Ng will make many machine learning and artificial intelligence entrepreneurs happy. The AI guru announced the formation of a startups incubator with the aim of building transforming companies and improving human life. To fulfill his dream, some sponsors backed his initiative with the substantial sum of 175 million dollars. However, before explaining how will he use all this money, we will tell you who is this successful technological leader.

Andrew Ng was a professor of computer science at Stanford University, specializing in research related to data mining and machine learning. Later he worked at Google, where he founded The Google Brain Deep Learning Project. In 2012, he co-founded Coursera. In 2014 he joined Baidu, considered the most innovative company in Asia and the most important search engine in China, known as the "Chinese Google." This year he announced a new initiative called AI Fund which aims to change the way we live through the development of artificial intelligence systems.

About 100 years ago, electricity transformed every major industry. AI has advanced to the point where it has the power to transform.
— Andrew Ng at the AI Frontiers conference.

Ng’s idea is to turn concepts and projects into businesses. AI Fund will provide capital to startups so they can move quickly and avoid getting distracted with lost time in fundraising; he believes that spending six months looking for money to start a new AI solution can boycott a project. Through small teams, startups will begin to work on specific AI challenges and the results of their research and development will be exposed only when the projects mature and are ready to begin offering solutions.

Andrew Ng first project was already revealed. Last month he unveiled, a company that focuses on the use of artificial intelligence to transform manufacturing processes. This first startup will try to improve quality control, shorten design times, reduce waste materials and improve the production of any industry. AI Fund will provide sufficient capital to start up this first company.

Ng believes that AI will transform almost all industries. We still do not know if it will be as important and revolutionary as electricity, but it is a fact that artificial intelligence has begun to impact the way we interact in the world.