As part of their vision to invest in companies that are in line with their interests, Microsoft Ventures recently launched a new fund exclusively for the development of Artificial Intelligence. Among others, it will help AI startup companies pursue their ambition to deal "inclusive growth and positive impact on society."
In his blog space on Microsoft's official website, Ventures Corporate Vice President Nagraj Kashyap reiterated AI "holds great promise to augment human capabilities" and at the same time, improve society by doing providing answers to some of today's intriguing questions. Their recent agreement with OpenAI, Kashyap added, is a prime example of Microsoft Ventures' initiative to seek solutions in the field of "climate change, inequality, health and education."
GeekWire also reported on Kashyap's blog, saying that companies under the new fund will find ways to make humans and machines "work together" and expand their reach and benefits in education, job generation, creation of new skills, capability enhancement of workforces and breakthroughs in medicine. This is also in line with the company's "major reshaping" by creating a new engineering and research team in September. The group consists of 5,000 warm bodies that will focus on developing AI; Microsoft CEO Satya Nadella, through an internal email, said that they are on the "cusp of a paradigm shift in computing", and it is something that Microsoft - or the world - haven't seen "in decades."
Nadella added that aside from OpenAI, Microsoft Ventures also tapped Partnership on AI, and is "committed to democratizing AI". The fund will also involve Montreal-based Element AI, while "non-AI startups" include Paxata, Dynamic Signal, xAd, Tact, Signal, Zipwhip and i3 Equity Partners. They are part of Microsoft's growing partners since May. Some of these companies specialize in machine learning, productivity, communications and cloud infrastructure. Redmond's Executive Vice President of Business Development Peggy Johnson said that the inclusion of AI "into everyday services" is one pillar of Microsoft that they will continue to cultivate.
