Qualcomm has announced the launch of the Qualcomm Ventures AI Fund to invest up to an aggregate of $100 million in start-ups working in artificial intelligence.
The fund will focus on startups that share the vision of on-device AI becoming more powerful and widespread, with an emphasis on autonomous cars, robotics and machine learning platforms.
Qualcomm says it has set out to make on-device AI technology ubiquitous by inventing, developing, commercializing and, importantly, investing in it. As AI shifts towards the wireless edge – combining essential on-device capabilities with the edge cloud – the industry is already starting to see the full potential of 5G. Qualcomm’s 5G strategy and commitment to on-device AI goes hand in hand with mobile becoming the pervasive AI platform, said Qualcomm CEO Steve Mollenkopf.
“For over a decade, Qualcomm has been investing in the future of machine learning,” he said. “We strongly believe intelligence is moving from the cloud to the edge. Qualcomm’s AI strategy couples leading 5G connectivity with our R&D, fueling AI to transform industries, business models and experiences.”
As part of the AI Fund, Qualcomm Ventures participated in a Series A funding round for AnyVision, a face, body, and object recognition start-up. AnyVision’s use of on-device AI minimizes the spread of data, mitigating privacy concerns. Its unique data acquisition strategy, together with its proprietary algorithms, are expected to provide immense value to customers.
This investment – the first made by the AI fund – will further AnyVision’s efforts to expand into other industries and develop new AI applications that transform how the world connects, computes and communicates