Machine learning and Artificial Intelligence to get 44 million dollars in fund

By arvind |Email | Aug 23, 2018 | 8235 Views

In the past decade companies have started to turn towards AI. There has been an increase in the number of companies that have started using AI not only that there has been a increase in the number of companies investing in it, some of them could has what it takes to be the future unicorn start-ups. A survey found that while in 2017 the companies that were using AI was 38% within a year it has grown up significantly to 62 % in 2018. Research has shown a greater than 300% increase in investments in AI since the last year 2017 and there are no signs of it slowing down soon. Companies a spending money in AI like never before. 

Another company that has decided to go big when it comes investing is VinGroup. VinGroup is a company from Vietnam that has announced a research fund that is actually worth 1 trillion VD that is almost 44 million US dollars. The fund has been announced for its Institute of Big Data to focus on fields like machine learning and AI. To be set up next year, Professor Vu Ha Van of Yale University will manage the research for the next three years. "The fund would not only help train and educate scientists and students in applied science, but also support universities and scientific institutions in developing science projects for social benefits", said Professor Vu Ha Van.

Being regarded as one of the leading mathematicians in probability and statistics and number theory, and a member of the Vietnam Institute for Advance study in mathematics from 2011, Professor Vu Ha Van seems like the perfect person to manage the research.
The big investment came at a time when the company has announced it is moving towards to become a ore tech centric corporation by 2028. The main fields that the company is supposed to focus on are software, material science and AI.

Source: HOB