home Investing Google has reportedly launched a new AI-focused venture capital program

Google has reportedly launched a new AI-focused venture capital program

Google has launched a new venture capital program focused on artificial intelligence, Axios is reporting.

Google declined to comment on the report, which states that the initiative will be led by longtime Google VP of engineering Anna Patterson and involve a rotating cast of engineers instead of the venture investorswho work forAlphabet Inc.s corporate venture unit, GV.

It isnt completely surprising that Google might create an investing practice around AI, particularly given Google CEO Sundar Pichais recent pronouncement that Google is becoming AI first rather than mobile first.

Indeed, AI was the running thread throughout the recent Google I/O developers conference, where the company introduced new tensor processing unit (TPU) chips that promise to more quickly train and run AI models for researchers and businesses; it also announced (among many other things)thatits Google Assistant, the companys virtual personal assistant thats available on devices like the Google Home and Pixel phone, will soon growmore conversational.


Also potentially playing into this new development: Googles recent acquisition of Kaggle, a platform that hosts data science and machine learningcompetitions.

According to Axios, Patterson and company will reportedly be co-investing with GV when it makes sense to do so. Check sizes, it says, will range from$1 million and $10 million to start, though it isnt yet clear how much Google plans to commit to the program, yearly or otherwise.

Read more: https://techcrunch.com/2017/05/26/google-has-reportedly-launched-a-new-ai-focused-venture-capital-program/