“As such projects mature and turn into businesses, the AI Fund will provide additional capital to these teams and thereby give them the ability to move quickly, and not be distracted by months of fundraising. A difference of six months can determine whether a new AI solution takes off or is too far behind to catch up, so we’re setting up the AI Fund to let our teams move as quickly as possible. It also allows our teams to publicize their work only when they are ready.”
“In the early days of electricity, much of the innovation centered around slightly different improvements in lighting. While this was an important foundation, the really transformative applications, in which electric power spurred massive redesigns in multiple industries, took longer to be grasped. AI is the new electricity, and is at a similar inflection point.”
Read the source article at Silicon Valley Business Journal.