Recent reports indicate has launched a venture capital division that focuses on artificial intelligence. TechCrunch reports the new division will be run by Anna Patterson, who is a longtime vice president of engineering at Google. The program will include a cast of engineers instead of Google’s traditional cast of venture investors. It is no surprise that Google plans to build a venture capital program based on the company’s CEO recent announcement it will become “AI first” instead of “mobile first.”
Google introduced new processing unit chips that engineers promise will train AI faster for businesses and researchers. The company also announced at the I/O Developers Conference that its virtual personal assistant, Google Assistant, will become more conversational. The new development also plays into the hands of the company’s recent acquisition of Kaggle, a software platform that hosts machine learning and data science competitions.
Reports indicate that Google’s new AI venture capital arm will work separately from its investment organization, Google Ventures. The new program aims to target AI startups and to offer mentorship from some of the company’s best people in its AI department. Some entrepreneurs are wary of Google’s foray into AI corporate venture capital, thinking the company may be biting off more than it can chew. However, tech experts are quick to point out that Google is an industry giant and is a powerhouse in AI research and development.