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id | date | title | slug | Date | link | content | created_at | feed_id |
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42,076 | 28/03/2024 03:52 PM | FTX Founder Sam Bankman-Fried Sentenced to 25 Years in Prison | ftx-founder-sam-bankman-fried-sentenced-to-25-years-in-prison | 28/03/2024 | A US judge has sentenced Sam Bankman-Fried, one-time crypto wunderkind, to 25 years behind bars. | 28/03/2024 04:04 PM | 4 | |
42,075 | 28/03/2024 02:35 PM | Satgana announces €8M fund for early-stage climate tech | satgana-announces-euro8m-fund-for-early-stage-climate-tech | 28/03/2024 | Satgana, a global VC firm that will invest in climate tech startups throughout Europe and Africa, has closed its first round with €8M invested from more than 100 LPs in 25 countries. With a strategic focus on early-stage climate tech, Satgana invests first tickets ranging from €100,000 up to €300,000 at the Pre-seed and Seed stage. The firm has closed 13 deals so far following careful review of over 2500 decks from founders. Previous investments include Y Combinator alum Orbio Earth, which tracks methane emissions to provide intelligence to potential investors, Amini AI’s datasets bridging Africa’s environmental data gap and Kubik’s projects building low-carbon buildings from waste products. Satgana goes to lengths to ensure its team represents the diversity of the founders it invests in and believes that this, along with its “broad sourcing engine”, is key to its strong track record in both European and African markets. Advisors and LPs subscribing to the fund include Family Oces, unicorn founders, impact investors, and high-profile business figures such as Chairman of the Supervisory Board of Publicis Groupe Maurice Lévy. Satgana is classified as an SFDR Article 9 fund or a “dark green fund”, meaning that its processes demonstrate high standards of compliance with global sustainability objectives. Similarly, it has recently gained B Corp status. Stagana envisions that its first fund will pave the way to many more and aims for a portfolio of 30 startups accelerating the transition to a low-carbon economy. Romain Diaz, General Partner of Satgana, commented:
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28/03/2024 03:04 PM | 1 | |
42,074 | 28/03/2024 02:33 PM | Cosmic rays, XR, and ‘multiverse’ quantum computing — welcome to EIC’s deeptech Scaling Club | cosmic-rays-xr-and-multiverse-quantum-computing-welcome-to-eics-deeptech-scaling-club | 28/03/2024 | “Do you believe in the multiverse?” our petite and cheerful guide Angelina asked me when I told her what I do for a living, while navigating the rambunctious street’s of Hanoi’s Old Quarter. It was not a conversation I was expecting to have on a vegan street food tour in Vietnam, but as Angelina studies AI and VR (and as we are both avid Marvel fans), our chat took a turn down a dimensional rabbit hole. I wonder what kind of questions she would have for the founders of Multiverse Computing — a Spanish deeptech scaleup. It offers what it… This story continues at The Next Web |
28/03/2024 02:34 PM | 3 | |
42,073 | 28/03/2024 01:35 PM | Oriole raises £10M Seed to reduce AI's energy consumption | oriole-raises-pound10m-seed-to-reduce-ais-energy-consumption | 28/03/2024 | UCL spinout Oriole Networks, whose technology hopes to reduce the amount of energy needed to run AI data centres, has raised £10M — one of the largest seed rounds in recent years. The round was co-led by UCL Technology Fund, Clean Growth Fund, XTX Ventures and Dorilton Ventures. CEO James Regan told Tech.eu that the funding allows the team to focus fully on developing its technology. Oriole’s tech connects the networks of GPUs that run LLMS by using light beams instead of ethernet cables, which they hope will increase the speed of information transfer in data centres by a hundred times. As for where Oriole's at with product development, he says that “each technology element has been proven individually and the full network simulated” with deployment in centres forecasted to be several years down the line. Regan has a track record of building successful tech companies from university spinouts — he previously spun out EFFECT Photonics, later valued at half a billion dollars. The team of scientists behind the project consists of Professor George Zervas, Alessandro Ottino and Joshua Benjamin with the GPU connections reliant primarily on research by Zervas. Soaring demand for AI has led to a rapid increase in the use and construction of high-emission data centres, so much so that many large corporations go to extreme lengths to obscure their energy usage. At present, data centres account for close to 3% of EU electricity demand and the European Commission expects that to rise by at least 28% before 2030. In the US, centres’ energy usage will double between 2022 and 2030. Daniel Freeman, General Partner at Dorilton Ventures, commented on the raise:
Meanwhile, Beverley Gower-Jones OBE, Managing Partner of Clean Growth Fund, emphasised the criticality of sustainable development:
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28/03/2024 02:04 PM | 1 | |
42,072 | 28/03/2024 12:50 PM | Wellola secures €2.2M for digital patient management solution | wellola-secures-euro22m-for-digital-patient-management-solution | 28/03/2024 | Digital health company Wellola today announced the successful closure of a €2.2 million funding round, bringing its total funding to date to €4 million. Founded in 2016 by healthcare clinicians in Ireland, Wellola develops patient management solutions, including the award-winning platform Portasana®. It provides hospitals and community-based clinics with the digital communication tools needed to deliver healthcare outside of a hospital setting. In a representative evaluation of over 600 patients across the UK using education courses featured on the platform:
Major healthcare organisations, including Leeds Teaching Hospitals NHS Trust, the North East London Foundation Trust and Birmingham Community NHS Trust, have already deployed Wellola’s award-winning Portasana® platform. Portasana® has enabled one NHS Trust department alone to reduce the need for return appointments by 30 per cent, saving it approximately £325,000 a year. According to Sonia Neary, CEO at Wellola:
Elkstone leads the investment with additional funding from Enterprise Ireland and Bay Advisory. Barry Brennan, Partner at Elkstone, said:
Ruth McAvoy of Enterprise Ireland said:
Wellola will use the funds to accelerate market expansion across Europe and plans to recruit technical and operational staff across Ireland and the United Kingdom. Lead image: Sonia Neary, CEO and founder Wellola; Niall McEvoy, Venture Partner Elkstone; and Ruth McAvoy, Senior Development Advisor Enterprise Ireland. Photo: uncredited. |
28/03/2024 01:04 PM | 1 | |
42,071 | 28/03/2024 11:01 AM | Ayora secures $1.6M Pre-Seed for its AI-powered revenue decision-making platform | ayora-secures-dollar16m-pre-seed-for-its-ai-powered-revenue-decision-making-platform | 28/03/2024 | Revenue management platform ayora, announced today that it has secured $1.6 million in a Pre-Seed round. Founded in 2022, the company developed the world’s first AI-powered platform that helps busy professionals improve revenue decision-making and streamline associated tasks. ayora estimates that legal professionals worldwide lose up to 20 per cent of revenue annually due to inadequate revenue management practices. Many revenue management tasks handled by lawyers, including fee decisioning, project management and resourcing, and cross-selling remain labour-intensive and poorly supported by existing technologies. Therefore lawyers either de-prioritise those tasks at the expense of client work, or spend too much time on non-chargeable revenue management work, in each case leading to major value leakage for their firms. Lawyers report they spend around a third of their time on non-billable work. ayora translates disparate data into actionable insights, ranging from pre-drafting client correspondence to budget monitoring and suggesting optimal billing schedules. Timesheet, billing and collection datasets, alongside the observation of the day-to-day revenue management activities inside the platform generate insights for firms to optimise revenues. J12 leads the funding with participation from Twin Path Ventures and a group of angel investors including Farah Ballands (former CEO of Estera and Appleby partner), Roger Siddle (former Chairman of Lawyers on Demand, UK Managing Partner at Bain) and Abhijat Saraswat (CRO of Lupl, former Senior Director at Litera). According to Stefan Ciesla, co-founder and CEO, ayora:
Bo Mattsson, Partner at J12 shared:
With the new capital, ayora will accelerate engineering recruitment and begin its commercial expansion starting with the BigLaw market, building on its recent partnership with major City law firm Mischon de Reya. Lead image: ayora. Photo: uncredited. |
28/03/2024 11:04 AM | 1 | |
42,070 | 28/03/2024 09:51 AM | Klein Vision sells flying car tech to China | klein-vision-sells-flying-car-tech-to-china | 28/03/2024 | Klein Vision's dream of a shape-shifting vehicle that goes from a road car to flying in the sky in minutes with only the need for a short landing strip is one step closer. The company is licencing its tech to Hebei Jianxin Flying Car Technology Company in China. While the financial details are undisclosed, the prototype cost $2.3 million to develop. The deal gives the Chinese firm exclusive rights to manufacture and distribute the AirCar within a specific geographic region in China. The AirCar has retractable wings, folding tail surfaces, and a parachute deployment system. It takes two minutes and 15 seconds to turn from sports car mode into an aircraft. It is equipped with a 160HP BMW engine and runs on standard fuel. It runs on standard fuel—no electric battery or green hydrogen—with a fixed propeller and a ballistic parachute. It's the first news from Klein Vision in over two years. In January 2022, the company announced that their AirCar flying car had received a Certificate of Airworthiness from the Slovak Transport Authority, making it legal to fly. It has a cruise speed of 300km/h and a 1000 km range. The news followed 142 successful landings in Bratislava. Under the supervision of the Civil Aviation Authority, the AirCar completed over 40 hours of test flights, including steep 45-degree turns and stability and manoeuvrability testing.
In earlier tests, the AirCar has flown at 8200 ft and reached a maximum speed of 190 kmph (103 knots). The two-seater flying car needs only a 300m stretch to take off. The company also announced plans for a 4-seater version, twin-engine and amphibious plane — a plane that turns into a boat. Or is it a car that turns into a boat and a car? Since then… nothing. Where can I travel in a flying car in Europe?Unfortunately, I'm here to burst your bubble. Currently, no facilities have been developed for private flying cars in Europe (or the US). There are private airstrips, but these would need regulatory approval to host flying cars. Then, there's the challenge of being approved to fly your air car. Flying car owners like AirCar need aviation and car driving licences. They also need a medical checkup from a flight examiner and a repair licence. To date, no insurance policy exists for personal flying cars. In Europe, the operator needs specific flight permission in every national jurisdiction since experimental aircraft are regulated nationally (NOT by the European Union Aviation Safety Agency). Klein Vision's AirCar only has a Certificate of Airworthiness from the Slovak Transport Authority. This means that once (if?) available commercially, you can only fly it in Slovakia.
However, Pal V from the Netherlands is further along, receiving road emission for its PAL-V Liberty in October 2020 for Europe and numerous countries outside Europe. It was also the first to complete the full certification with the European Union Aviation Safety Agency (EASA). However, news of operations in Europe is limited — Pal V has been selling aircars to the Middle East. News from Slovakian competitor Aeromobi has been far thinner on the ground — Klein Vision's founder Stefan Klein's previous employer. As with almost all mobility companies, I expect all flying car makers were hit hard by the pamdemic. The dream of a personal flying car remains grounded in bureaucracy and infrastructure limitations. As it stands, it offers little environmental benefit. It's highly questionable whether they'll ever be available outside the hands of the wealthy few. |
28/03/2024 10:04 AM | 1 | |
42,069 | 28/03/2024 09:00 AM | The White House Puts New Guardrails on Government Use of AI | the-white-house-puts-new-guardrails-on-government-use-of-ai | 28/03/2024 | Vice President Kamala Harris says new rules for government AI deployments, including a requirement that algorithms are checked for bias, will “put the public interest first.” | 28/03/2024 09:34 AM | 4 | |
42,067 | 28/03/2024 08:29 AM | Bank of America backs Impact X's mission to support underrepresented entrepreneurs | bank-of-america-backs-impact-xs-mission-to-support-underrepresented-entrepreneurs | 28/03/2024 | Impact X Capital Partners announced this week that Bank of America is investing equity in its IX Global I fund. The firm is a double-bottom-line venture capital firm headquartered in London, founded in 2019. The firm focuses on investing in underrepresented innovators in Europe, particularly women and founders of colour, in key sectors such as digital and technology, health, education and well-being, and media and entertainment. The company's founding members include Ursula Burns, former CEO of Xerox and the first Black woman to head a Fortune 500 company; Sir Lenny Henry; and Ric Lewis, chairman of Tristan Capital Partners, a London-based real estate investment firm. The fund will address access to capital inefficiency by investing in founders and startups across the UK and Europe, which are led by women and entrepreneurs of colour. In a move that underscores a growing awareness of the significant ROI potential of investing in historically underrepresented groups, Bank of America is joined by the Visa Foundation, Guy's and St Thomas' Foundation and Atomico in investing in the fund.
Paula Groves, Founding Partner and Chief Investment Officer, added:
Lead image: Impact X CEO Eric Collins. Photo: uncredited. |
28/03/2024 08:34 AM | 1 | |
42,068 | 28/03/2024 08:18 AM | Astroforensics could be one of the coolest new careers of the future | astroforensics-could-be-one-of-the-coolest-new-careers-of-the-future | 28/03/2024 | Nasa’s Artemis program is scheduled to return astronauts to the Moon and establish a permanent orbiting laboratory by the end of the decade. Meanwhile, private companies are making significant steps in taking paying customers further into space. As humanity’s footprint expands beyond the familiar terrains of Earth to the Moon and possibly beyond, an intriguing new field emerges from the final frontier: astroforensics. This discipline, still in its infancy, is propelled by the inevitability of human nature. Space presents a unique and harsh environment for forensic investigations. Settings that present altered gravity, cosmic radiation, extremes in temperature, and the need… This story continues at The Next Web |
28/03/2024 08:34 AM | 3 | |
42,066 | 28/03/2024 08:00 AM | EIC Scaling Club announces its first 48 European deeptech scaleups | eic-scaling-club-announces-its-first-48-european-deeptech-scaleups | 28/03/2024 | Today the EIC Scaling Club unveiled the selection of the first 48 European deep tech scaleups to join its curated community of standout companies, investors, corporate innovators, mentors, media firms and other industry stakeholders. The list, which can be consulted in full below or here, includes EIC-backed companies such as Dronamics, Sherpa.ai, Sympower and Axelera AI. The selected companies fall within four predefined market sector opportunities:
In total, ten market sector opportunities have been identified as crucial for positive impact; others include Clean Fuels and Hydrogen, New Spacetech and New Biotech Platforms. Backed by the European Innovation Council, the flagship programme of the European Commission with a budget north of €10 billion, the EIC Scaling Club aims to significantly grow the value of the selected businesses and help maximise their positive impact on a global level. It's a curated community where 120+ European deep tech scaleups with the potential to build world-class businesses and solve major global challenges come together with investors, corporate innovators and other industry stakeholders to spur growth. The EIC Scaling Club will assist the deeptech scaleups with fundraising support, leadership mentoring and coaching, corporate partnership identification and matchmaking, media visibility, recruitment, and more. In the near future, the EIC Scaling Club will expand its efforts to build a high-level, international network of more than 120 deep tech champions and surround them with hundreds of the world’s leading investment firms, corporations, media representatives, vetted business mentors and other technology industry stakeholders. According to William Stevens, co-founder and group managing director of Tech Tour, and coordinator of the EIC Scaling Club:
Full list of selected companies, in no particular order:Digital Security & Trust
Next-Gen Computing
Renewable Energies
Smart Mobility
The EIC Scaling Club is run in partnership with Tech Tour, Bpifrance (EuroQuity), Hello Tomorrow, Tech.eu (Webrazzi), EurA and IESE Business School. |
28/03/2024 08:04 AM | 1 | |
42,065 | 28/03/2024 07:00 AM | Ukraine’s drone startups aim to turn war experience into peacetime business | ukraines-drone-startups-aim-to-turn-war-experience-into-peacetime-business | 28/03/2024 | Juggling two jobs is hard work. It’s particularly hard work when one of the jobs is in a warzone. But for Ivan Kaunov, the roles are complementary. As the CEO and co-founder of Buntar Aerospace, Kaunov develops drones for long-range flights. As a member of the Ukrainian Armed Forces, he flies drones on combat missions. “We’re using them on the battlefield and we know what works, what doesn’t, and how they should be changed to fit the modern warfare reality.” the 33-year-old tells TNW on a video call from a classified military facility. “We have the fastest feedback loop ever.” … This story continues at The Next Web |
28/03/2024 07:34 AM | 3 | |
42,064 | 28/03/2024 07:00 AM | Diamond Valley? Silicon semiconductors face a run for their money | diamond-valley-silicon-semiconductors-face-a-run-for-their-money | 28/03/2024 | Grenoble-based Diamfab has raised €8.7M in funding for a pilot programme demonstrating semiconductors made using their wafer-thin diamond instead of silicon. Diamfab plans for these semiconductors to form the foundation of chips used in the automotive, renewable energies and quantum industries. The use of diamond to replace silicon in semiconductors has been promised and reneged on for decades, dogged by issues of cost and feasibility. Diamond is lighter, more resistant to high temperatures and more energy-efficient, making it ideal for a wide range of applications including power electronics in electric cars, industry and electricity distribution networks. Breakthroughs in chemical vapour deposition that allow higher-quality, lower-cost production of synthetic diamonds mean that industrial-scale use of diamond semiconductors is becoming a real possibility. Diamfab’s expertise lies in the growth and doping of thin diamond layers, as well as in the design of diamond electronic components. The company — founded by nanoelectronics PhDs Gauthier Chicot and Khaled Driche in 2019 — was awarded the seed funding by Asterion Ventures, the French Tech fund managed on behalf of the French government. The raise confirms France’s commitment to innovative electricity production, seen also in its large-scale uptake of nuclear energy sources. ‘Chip wars’ have characterised the tech landscape for the past few years with a widely-held view of chip sovereignty as essential to innovation and prosperity. The investment is an indication of France’s hope that it could take the edge by enabling synthetic diamonds to meet industrial standards regarding wafer size and industrial components. This first round of funding will enable Diamfab to set up a pilot line to pre-industrialize its technology, accelerate development and meet growing demand. Gauthier Chicot, Chairman of Diamfab, said that the pilot "will catalyze many discussions with our partners and strengthen our relationships. “To be accompanied by investors who are committed to the industry and the climate, and above all who understand its constraints and links, is fundamental.” |
28/03/2024 07:04 AM | 1 | |
42,063 | 28/03/2024 07:00 AM | Robovision raises $42M to accelerate AI-powered industrial automation | robovision-raises-dollar42m-to-accelerate-ai-powered-industrial-automation | 28/03/2024 | AI-powered computer vision, Robovision, has raised $42 million in its latest investment round, bringing its funding to $65 million. Headquartered in Ghent, Robovision's AI-powered computer vision platform offers an end-to-end, no-code solution for machinery manufacturers and production lines. The company has generated over $250 million in sales for its partners and has been particularly effective in the agricultural space. A partnership with ISO Group helps plant 1 billion tulips annually (half of the world's production) and helps Japanese giant Hitachi produce semiconductor wafers. The Robovision platform is unique in its ability to upgrade existing machinery and production lines with Vision AI, enabling next-level automation. This enables end-users such as factory operators and farmers to create and maintain their own AI models. This Industrial AI capability blends domain-specific knowledge with cutting-edge technology, enabling smarter, fit-for-purpose automation. CEO Thomas Van den Driessche commented:
"More than a decade ago, I sat down with Tim Waegeman, my co-founder and CTO, who was completing his PhD in machine learning. We quickly realised that this technology had the potential to rewrite the rules of the game in industrial automation completely. We are grateful to our investors for their support and look forward to putting our technological leadership to use to accelerate the industrial adoption of AI on a global scale." Target Global and Astanor Ventures led the round. Red River West also joined the funding round. Bao-Y Van Cong, Partner at Target Global, stated:
Hendrik Van Asbroeck from Astanor Ventures adds:
The funding round will help accelerate Robovision's U.S. expansion, fostering a robust local presence to address the increasing demand for automated solutions in American factories. The funds will also be used to invest in R&D and growth in existing markets, with future office openings planned across Germany, France, the UK, the Middle East, and Asia. Lead image: Robovision founders. Photo: uncredited. |
28/03/2024 07:04 AM | 1 | |
42,062 | 27/03/2024 07:43 PM | Flying cars edge towards takeoff after Chinese production deal | flying-cars-edge-towards-takeoff-after-chinese-production-deal | 27/03/2024 | A flying car that’s certified for aviation just took another big step towards commercialisation. The Aircar’s creator, KleinVision, today announced the sale of a “groundbreaking” license to manufacture the vehicle. The deal gives China’s Hebei Jianxin Flying Car Technology Co exclusive rights to the system within a specific, undisclosed region. Also undisclosed is the cost of the license. KleinVision said the agreement brings flying cars closer to reality. The Slovakian startup already has a certificate of airworthiness for its tech, which transforms from a car into a plane in under three minutes. Aircar had to conduct 70 hours of flight testing… This story continues at The Next Web |
27/03/2024 08:04 PM | 3 | |
42,061 | 27/03/2024 06:19 PM | The Baltimore Bridge Collapse Is About to Get Even Messier | the-baltimore-bridge-collapse-is-about-to-get-even-messier | 27/03/2024 | Closing the city’s seaport will send shockwaves across global shipping. Supersized container ships pose a growing risk to bridges and other infrastructure when things go wrong. | 27/03/2024 06:34 PM | 4 | |
42,059 | 27/03/2024 04:49 PM | TNW Podcast: Ukrainian startups, European quantum tech, Michiel Scheffer on the future of the EIC | tnw-podcast-ukrainian-startups-european-quantum-tech-michiel-scheffer-on-the-future-of-the-eic | 27/03/2024 | Welcome to the new episode of the TNW Podcast — the show where we discuss the latest developments in the European technology ecosystem and feature interviews with some of the most interesting people in the industry. In today’s episode, Linnea, Tom (!), and Andrii talk about Ukrainian startups, drones, information security, European quantum landscape, reverse brain drain, and a lot more. The guest of the show is Michiel Scheffer, President of the Board of the European Innovation Council. Here are the stories and things mentioned in the episode: Hidden racial slurs are flooding across Russian media, AI reveals European Declaration… This story continues at The Next Web |
27/03/2024 05:04 PM | 3 | |
42,060 | 27/03/2024 04:40 PM | UCL spinout bags £10M to make AI ‘super brains’ for 100x faster LLM training | ucl-spinout-bags-pound10m-to-make-ai-super-brains-for-100x-faster-llm-training | 27/03/2024 | Oriole Networks, a UCL spinout, has raised £10mn in seed funding to build AI “super brains” that promise to accelerate the training of Large Language Models (LLMs). Founded in 2023 by UCL scientists, the startup has developed a new method that harnesses the power of light to connect thousands of AI chips. This results in a network of chips, where the power of each individual GPU is combined to form a “super brain.” According to James Regan, CEO at Oriole Networks, this “enables the direct connection of a very large number of nodes enabling it to function as a single… This story continues at The Next Web |
27/03/2024 05:04 PM | 3 | |
42,057 | 27/03/2024 02:56 PM | AI and data infrastructure dominate Runa Capital's annual open source startup index | ai-and-data-infrastructure-dominate-runa-capitals-annual-open-source-startup-index | 27/03/2024 | This week international venture capital firm Runa Capital released the latest annual Runa Open-Source Startup (ROSS) Index, a regularly updated ranking of the top-trending open-source startups. The annual report ranks 50 top-trending open-source startups by the annualised growth rate of GitHub stars at their repositories. The firm is a serial early-stage investor in deep tech startups across AI, ML and open source. It first released its Runa Open-Source Startup (ROSS) Index in 2020. The ROSS Index reliably predicts global funding for top-trending open-source companies. More than half of all startups that emerged as top performers are AI and data infrastructure-focused, showcasing the increasing reliance on these technologies in the open-source community. Beyond AI and Cloud, developer-centric startups have received significant attention. These innovators offer cutting-edge tools and solutions designed to elevate the developer experience and simplify the complexities of web development. This surge underlines a pivotal shift towards more sophisticated, user-friendly technologies that set new standards for what's possible in tech. The variety in programming languages among ROSS participants reflects an evolving tech landscape. Last year, out of nine GitHub repositories using Python, seven were AI-related. Python and Rust also saw a notable increase in usage, signalling their growing appeal and practicality for developers seeking reliable and efficient coding solutions. Further, European startups are rapidly gaining ground, with 23 on the list, closely trailing the 26 US companies. This highlights a vibrant and growing open-source ecosystem across the continent. According to Konstantin Vinogradov, General Partner at Runa Capital:
The companies featured across all ROSS Indexes have raised a combined total of $2.7 billion. The Top 20 Companies include:
Amanda Brock, CEO of OpenUK shared;
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27/03/2024 03:04 PM | 1 | |
42,058 | 27/03/2024 02:50 PM | Scientists think ‘collective AI’ will resemble Star Trek’s Borg — only nicer (hopefully) | scientists-think-collective-ai-will-resemble-star-treks-borg-only-nicer-hopefully | 27/03/2024 | Leading computer scientists have unveiled a vision of “collective AI” that resembles Star Trek species the Borg. Researchers from MIT, Yale, and Loughborough University explained the concept in a study published this week in Nature Machine Intelligence. The paper describes separate AI units continuously acquiring new knowledge and skills. They would then share the information across a network. Together, the collective would turn their insights into mutual benefits. Multiple skills, ideas, and applications would then evolve incrementally. As a result, the network would rapidly learn to complete new tasks and respond to changes. Transformative technologies would then emerge. Cybersecurity systems, for instance,… This story continues at The Next Web |
27/03/2024 03:04 PM | 3 | |
42,056 | 27/03/2024 01:02 PM | 1.5M UK jobs now at risk from AI, report finds | 15m-uk-jobs-now-at-risk-from-ai-report-finds | 27/03/2024 | Some 11% of job tasks in the UK are currently at risk of AI replacement, a new report by the Institute for Public Policy Research (IPPR) has found. In the worst case scenario, this translates to a loss of 1.5 million jobs — without any GDP gains. IPPR’s analysis showed that the impact is mostly evident on routine cognitive tasks, such as database management, as well as organisational and strategic tasks, such as inventory management or scheduling. Back-office, entry-level, and part-time jobs are the ones mostly exposed, with employees on medium and low wages being at the greatest risk. IPPR paints an… This story continues at The Next Web |
27/03/2024 01:04 PM | 3 | |
42,053 | 27/03/2024 12:16 PM | WASE raises £8.5M to boost biogas production with waste-to-energy conversion | wase-raises-pound85m-to-boost-biogas-production-with-waste-to-energy-conversion | 27/03/2024 | UK biogas tech company WASE today announced it raised over £8.5 million, including £2.4 million in non-dilutive funding. WASE's proprietary Electro-Methanogenic Reactor (EMR) technology is versatile and maximises the amount of biogas produced from biomass in anaerobic digestion (AD) plants, as well as from organic matter in wastewater. Its units increase biogas generation by 30 per cent up to ten times faster. The tech also increases the methane content of biogas to more than 80 per cent compared to conventional AD where methane contents of 50-60 per cent are more typical. WASE's plug-and-play system - which fits into existing infrastructure and is also 50 to 70 per cent smaller than what is currently available. The modular solution allows customisation, making it much easier for companies to deploy at their sites. This results in more energy production and lower costs in the long run. Tighter regulations and higher costs drive food and beverage companies to seek more affordable, on-site treatment options for their wastewater. WASE already works with several manufacturers, such as Hepworth and St Peter’s Brewery, to convert their wastewater into renewable energy. The financing round was led by Extantia Capital, with participation from Hitachi Ventures, WEPA Ventures, and Engie New Ventures, the CVC arm of the global energy company Engie. Other investors include Elbow Beach Capital and Empirical Ventures. According to Thomas Fudge, founder and CEO of WASE:
Carlota Ochoa Neven Du Mont, Principal at Extantia, said:
Camille Bonenfant-Jeanneney, Managing Director of ENGIE Renewable Gases Europe, stated:
WASE plans to use the funds to scale operations, execute multi-million pounds of signed contracts and projects in their qualified pipeline, and build their product offering. Lead image: Wase. Photo: uncredited. |
27/03/2024 12:34 PM | 1 | |
42,054 | 27/03/2024 12:09 PM | peaq raises $15M for web3-enabled public infrastructure | peaq-raises-dollar15m-for-web3-enabled-public-infrastructure | 27/03/2024 | peaq has raised $15M to strengthen its web3 network, which enables communities to mobilise around improving physical infrastructure, as the company prepares for launch. Currently, peaq hosts 20 decentralized physical infrastructure networks (DePINs), decentralized apps that use tokens to incentivize people to crowdsource and build connected real-world infrastructure. The funding anticipates peaq's network launch after years of R&D. DePINs aim to restructure the ownership of infrastructure like mobility, internet and energy, moving them from a corporate to community-owned paradigm. Popular DePINs on the network include Silencio, an app for measuring noise pollution with smartphones and ELOOP, a fleet of car-sharing Tesla's. The $15M will be directed towards peaq’s Ecosystem Grant Program as well as enabling further development of backend functions and Software Development Kit, enabling teams to build and deploy projects faster. The round was led by Generative Ventures and Borderless Capital with the participation of Spartan Group, HV Capital, CMCC Global, Animoca Brands, Moonrock Capital, Fundamental Labs, TRGC, DWF Labs and others. “The Economy of Things is a ground-breaking concept powering a profound transition in how we run our increasingly connected world,” commented Lex Sokolin, Managing Partner at Generative Ventures. “peaq has made great strides on its mission to make this concept a reality and put it on Web3 economic and financial infrastructure. We are thrilled to support a project with so much vision — and the execution needed to bring it to life.” Álvaro Gracia, Partner at Borderless Capital, said:
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27/03/2024 12:34 PM | 1 | |
42,055 | 27/03/2024 12:00 PM | Inside the Creation of DBRX, the World's Most Powerful Open Source AI Model | inside-the-creation-of-dbrx-the-worlds-most-powerful-open-source-ai-model | 27/03/2024 | Startup Databricks just released DBRX, the most powerful open source large language model yet—eclipsing Meta’s Llama 2. | 27/03/2024 12:34 PM | 4 | |
42,052 | 27/03/2024 11:36 AM | Lack of public awareness of climate crisis link to pension funds a “national scandal”, says Cushon boss | lack-of-public-awareness-of-climate-crisis-link-to-pension-funds-a-national-scandal-says-cushon-boss | 27/03/2024 | The lack of public awareness of pension funds being invested in fossil fuels or high-carbon industries is a “national scandal”, says the boss of NatWest-owned fintech Cushon. Ben Pollard, Cushon founder and CEO, says there is a “shocking lack of awareness” of the link between pension fund investments and the climate crisis. In an interview with Tech.eu, the CEO of the London-based workplace savings and pensions app also talks about life at Cushon post-NatWest deal, the Mansion House Compact, and the British ISA. Lack of awareness between pension funds and climate crisis "scandalous" There are around £1.7 trillion worth of investments in UK pension funds which are not yet in line to hold global temperature rises to 1.5c, the limit targeted by the government at Cop26, and which the net zero target is needed to meet, according to campaigning group Make My Money Matter. Cushon figures show that an average person’s pension pot finances around 23 tonnes of carbon emissions each year, equivalent to nine family cars worth of emissions. “Nobody really knows about it,” says Pollard, a former actuary. “I think that more people aren’t aware of this is scandalous.” Pollard says journalists could be partly to blame, not doing enough to raise awareness around the subject. The fintech wears its green credentials on its sleeve, as it looks to drive the investment and pensions industry to green portfolios. Its website blurb talks about “climate-friendly” pensions and in 2021 Cushon garnered headlines for launching the world’s first net zero pension- however, the “net zero” claim was subsequently ditched amid carbon offsetting concerns with Cushon, instead, focusing on cutting emissions from its main investment offer by 80 per cent. NatWest acquisition going smoothly NatWest acquired a majority stake (85 per cent) in Cushon, founded in 2014, in February last year for £144m, as the banking giant looked to offer its commercial customers and their employees a suite of financial wellbeing products. A Nigel Farage banking scandal later and senior faces at NatWest have changed. NatWest CEO Alison Rose has been replaced by NatWest veteran Paul Thwaite, who has worked for NatWest for 27 years and previously ran its commercial and institutional units. Peter Flavel, the chief executive of NatWest’s Wealth Business, whose quote graced NatWest's Cushon acquisition press release, has also gone, replaced by the soon-to-join Emma Crystal, a former UBS executive. So what does this mean for Cushon? “The support is still very strong, there is still a lot of buy-in and drive to make Cushon a roaring success for NatWest,” says Pollard, who says he was “quite close” to Thwaite through the deal process. With nearly one-third of UK companies banking with NatWest (around 1.3m firms), it’s not difficult to see the benefit that NatWest can bring to Cushon. Pollard says:
But hasn’t Cushon lost its challenger identity now the NatWest goliath has swallowed it up. Cushon retaining startup identity Not so, says Pollard. “There was a lot of thought put into mitigating that risk on both sides of the fence,” he says. He says Cushon has maintained its “sizzling pink” fintech identity” (Cushon’s startup mantra was to “Think Pink!”- which means “innovate” and be “original”) and its “autonomy”. One of the biggest challenges, since the NatWest acquisition, has been bedding in a workforce which has nearly doubled in number to over 160 since last year, he says. One operational change to Cushon has been what Pollard refers to as the “NatWest tax”- wiring up Cushon into publicly listed life, including the rigours of quarterly reporting and also having to “raise the bar” on its risk and compliance. On the acquisition hunt Cushon, which oversees around £2.3bn in assets and has over 500,000 customers, made three pension master trust scheme acquisitions in the two years to 2022 and is on the hunt for more master trusts, which Pollards says are its “sweet spot”. “We remain highly acquisitive,” Pollard says, but says acquisitions could be in the broader investment and savings areas, including financial wellness, following on from its 2022 acquisition of financial education specialist Better with Money. Mansion House Compact Last year, Cushon became a signatory to the Mansion House Compact, an agreement by pension providers which is likely to see pension funds investing in the world of Venture Capital. While greeted by the VC industry, there are practical challenges that pension funds investing in VCs entail, like whether VCs can meet pension fund demands on portfolio transparency and fees. “There is no tension” between the pensions and VC industry but “a mutual desire towards the same objective”, says Pollard. That said, there are “practical problems and challenges” to be met, he adds. One challenge, he says, is the pricing structures in the VC world which don’t necessarily marry with the pensions world. He says
But he says this and other challenges can be worked through. Cushon currently has a 15% allocation to private markets, within its investment portfolio. Pollard says that Cushon is actively working on deploying part of its private market allocation into earlier stage VC. Cushon upbeat on British Isa On the chancellor’s announcement about the new British Isa, announced in the recent Budget, designed to encourage investment in the share of UK business, Pollard says “we like the idea of investing in the UK”. “As a direction of travel we are very supportive,” he adds. |
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