Artificial Intelligence pioneer and Stanford University professor, Andrew Ng announced the creation of a $175 million fund to promote the advancement of Artificial Intelligence. The fund will be part of a broad reaching initiative that will create new organizations devoted to expanding the role of AI in society.
Ng, who is also a founder of Google Brain and the leading online education provider Coursera has built a reputation for his academic contributions in a type of AI known as Deep Learning. Deep Learning is a machine learning method that has produced algorithms that simulate human cognitive processes such as speech recognition, computer-based vision, audio recognition, natural language processing, social network decision making and even the design of pharmaceuticals.
Deep Learning algorithms acquire their skills through an architecture of deep neural networks, recurrent neural networks and deep belief computational structures. The results that Deep Learning has produced have been extremely impressive, in some cases exceeding human capabilities.
The fund, which will be structured as a startup incubator, will create small collaboration teams devoted to investigating solutions to business and society issues, modeled as problem spaces, using machine learning.
Andrew Ng shared that he had no difficulty raising money for his AI fund. The global capital investor market enthusiasm for AI projects is extremely high, Ng reports, adding that it unburdens the resource expenditures that would ordinarily be devoted to fund raising.
He will also serve as a general partner of the fund and provide leadership in the direction that the fund’s efforts will take.
One of the impacted areas by Ng’s organization will be the societal impact of AI and restructuring and retraining the workforce to become focused on a wealthier and fairer social structure.
Industry experts offer that Ng’s fund and focus sheds light on his Landing.ai startup, which he made public last year. Landing is devoted to developing machine learning solutions to the manufacturing industry, with the goal of making them more competitive.
This funding venture builds on Ng’s prior business success leading the multinational technology firm, Baidu, a global leader in AI and ranked as one of the top 100 companies in China. Ng’s promotion to Chief Scientist, where he leads Baidu’s research efforts in Beijing, China and Silicon Valley, was announced by Baidu in 2014.