Tunisia-based AI firm InstaDeep draws Google investors
Beguir says the firm saw real-world 'wide-ranging opportunities to deploy our AI products'
Artificial intelligence firm InstaDeep, created on two laptops in Tunisia in 2014, raised $100 million from a number of investors - including Google and BioNTech - the company said on Tuesday.
InstaDeep will use the funding it obtained to develop its infrastructure, hire experts and speed up the launch of AI projects in "biotech, logistics, transportation and electronics manufacturing," the firm announced in a statement.
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AI is a branch of computing that builds machines capable of tasks that would normally need human-like intelligence, in everything from virology to transport.
InstaDeep said it worked with German pharma firm BioNTech to create an immunotherapy lab which utilizes AI, along with an AI-powered early warning system for detecting high-risk Covid variants.
The firm also applied AI to resolve the complex train scheduling challenges facing German railway firm Deutsche Bahn.
InstaDeep chief Karim Beguir said that the firm saw "wide-ranging opportunities to deploy our AI products to tackle complex real-world problems."
As advancements in machine learning continue, polls indicate a number of the world’s tech firms are looking increasingly towards the potential utilization of AI for their respective businesses.
According to US news channel CNBC, a survey of technology executives found that 81 percent believed artificial intelligence would be very or critically important to their companies in 2022.