Machine-learning entrepreneurs have a new pot of cash to lust after. Andrew Ng, former chief scientist at Baidu, has announced that his new AI Fund has $175 million to invest in startups that are using AI.
The details: AI Fund is looking into three “new AI-powered directions” ... but it hasn’t released details about what they are just yet. The only announced investment so far is in Landing.ai, a manufacturing AI startup that Ng himself launched last month.
The idea: Ng wants to help accelerate AI development. In a Medium post announcing the fund, he wrote that he wants to “develop systematic and repeatable processes to initiate and pursue new AI opportunities.” In other words, he wants to copy-and-paste the best ways to get AI startups building stuff.
Plus: AI Fund will invest in training programs around the world so “every person can gain the skills needed to thrive in the AI economy.”