News that Google is purchasing artificial intelligence company DeepMind for between $500 million and $650 million surfaced Monday. Google spokesperson Tim Drinan confirmed the deal but declined to provide further details. The first commercial applications of DeepMind, which was founded in 2011, are in simulations, e-commerce and games. “These are the areas most likely to benefit from — and generate revenue from — AI,” said Jim McGregor, principal analyst at Tirias Research. “However, the expertise and algorithms could be used in many other areas.”
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Google Buys DeepMind to Dig Deeper Into Data
Posted by: Richard Adhikari January 27, 2014 03:51 PMNews that Google is purchasing artificial intelligence company DeepMind for between $500 million and $650 million surfaced Monday. Google spokesperson Tim Drinan confirmed the deal but declined to provide further details. The first commercial applications of DeepMind, which was founded in 2011, are in simulations, e-commerce and games. “These are the areas most likely to benefit from — and generate revenue from — AI,” said Jim McGregor, principal analyst at Tirias Research. “However, the expertise and algorithms could be used in many other areas.”