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Category: business – Page 58

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California-based Virtualitics, a startup providing enterprises with an AI-driven platform for 3D data exploration, today announced $37 million in a series C round of funding. The company said it will use the capital to expand its footprint and add more capabilities to its offering to make it easier for users to analyze and understand complex, business-critical datasets.

The round has been led by Smith Point Capital with participation from Citi and advisory clients of The Hillman Company, among other investors. It takes the total capital raised by Virtualitics, which took off from Caltech and NASA’s Jet Propulsion Lab in 2016, to $67 million.

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A team from the University of Chicago.

Founded in 1,890, the University of Chicago (UChicago, U of C, or Chicago) is a private research university in Chicago, Illinois. Located on a 217-acre campus in Chicago’s Hyde Park neighborhood, near Lake Michigan, the school holds top-ten positions in various national and international rankings. UChicago is also well known for its professional schools: Pritzker School of Medicine, Booth School of Business, Law School, School of Social Service Administration, Harris School of Public Policy Studies, Divinity School and the Graham School of Continuing Liberal and Professional Studies, and Pritzker School of Molecular Engineering.

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Summary.

What will artificial intelligence do to industries and jobs? For a preview, look to the finance industry which has been incorporating data and algorithms for a long time, and which is always a canary in the coal mine for new technology. The experience of finance suggests that AI will transform some industries (sometimes very quickly) and that it will especially benefit larger players. But it may not leave the overall system better off.

Page-utils class= article-utils—vertical hide-for-print data-js-target= page-utils data-id= tag: blogs.harvardbusiness.org, 2007/03/31:999.361588 data-title= What the Finance Industry Tells Us About the Future of AI data-url=/2023/08/what-the-finance-industry-tells-us-about-the-future-of-ai data-topic= Business and society data-authors= Mihir A. Desai data-content-type= Digital Article data-content-image=/resources/images/article_assets/2023/08/Aug23_09_5277464-383x215.jpg data-summary=

The sector is a test case for how new technology will play out.

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On any given day, Dallas motorists traveling along I-20 or I-45 are likely to be sharing the road with a self-driving truck that has the equivalent of a learner’s permit.

Why it matters: Dallas is the hub of autonomous truck testing and development, thanks to its vital freight corridors, business-friendly policies and generally favorable weather.

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Collaboration yields new solutions that tackle complex challenges in defense and aerospace sectors

Companies to showcase live demonstration of quantum-hybrid application at Space & Missile Defense Symposium

BURNABY, British Columbia, PALO ALTO, Calif. & HUNTSVILLE, Ala., August 7, 2023 —(BUSINESS WIRE)— D-Wave Quantum Inc. (NYSE: QBTS), a leader in quantum computing systems, software, and services, and Davidson Technologies, Inc., a technology services company that provides innovative engineering, technical and management solutions for the Department of Defense, aerospace and commercial customers, today announced progress in their collaboration to create solutions that advance national defense efforts. In support of the companies’ joint presence at this week’s Space and Missile Defense Symposium, D-Wave and Davidson Technologies revealed that together they have built two applications, focused on interceptor assignment and optimized radar scheduling.

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Will they replace human cosmetics workers?

A report by CBS News.

The article outlined several AI firms that have entered the industry and shared their point of view on its progress.

A report by CBS News published on Tuesday highlighted how the global market for artificial intelligence (AI) in beauty and cosmetics is currently a multi-billion-dollar business that sees machines undertake tasks once reserved only for humans.

Frustration with salons

Co-founder and CEO of a San francisco-based startup called Clockwork Renuka Apte said that the idea to use robots for cosmetic procedures came about because of her own frustration with salon appointments.

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It turns out robots have a ‘U-shaped’ effect on profits.

Researchers from the University of Cambridge have found that investment in robots can cause a firm’s profits to first decline before rising again, resulting in a so-called ‘U-shaped’ effect on profits.

This is according to a report by TechXplore published on Thursday.

The study was based on industry data from the UK and 24 other European countries between 1995 and 2017. The research found that low levels of adoptions coincided with negative profit margins however higher levels led to successful profits.

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