AI researcher Ng launches 175 million investment fund

This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only. The artificial intelligence researcher who has said he wants to free humanity from repetitive mental drudgery also wants to save AI entrepreneurs time spent raising funds. In this Friday, July 14, 2017, file photo, computer scientist Andrew Ng works at his office in Palo Alto, Calif. Ng, the cofounder of online education platform Coursera who’s led AI teams at Google and Baidu, says he’s launching a $175 million fund to invest in AI startups, backed by private equity firms NEA, Sequoia, Greylock Partners and Softbank. (AP Photo/Eric Risberg, File) © 2018 The Associated Press. All rights reserved. Citation: AI researcher Ng launches $175 million investment fund (2018, January 30) retrieved 18 July 2019 from https://phys.org/news/2018-01-ai-ng-million-investment-fund.html Explore further Ng aims to bring AI ‘electricity’ to manufacturing Andrew Ng (unh) says he’s launching a $175 million fund to invest in AI startups, backed by private-equity firms NEA, Sequoia, Greylock Partners and Softbank.Ng’s the co-founder of online education platform Coursera who’s led AI teams at Google and Baidu. He says his background will help prioritize projects with the most potential, saving founders six months of development time otherwise lost explaining their idea. He’s also tapping his personal network for leads: The fund, simply called AI Fund, isn’t taking pitches from entrepreneurs.The fund is also investing an undisclosed sum in Ng’s startup Landing.ai that aims to bring AI to manufacturing.