Element AI opened its operations in 2017, after raising $102 million aimed at developing an incubation center for AI developments designed for small businesses and non-profit organizations. The company’s business model is transformative in itself as it aims to provide small organizations with AI capacities which will pass industry standards. In an interview, Dr. Julien Cornebise said,
There are many exciting people in the world of academia and artificial intelligence wanting to do interesting stuff. How can we make sure our tools are not just meeting the needs of big companies?”
Element AI was founded by experienced AI and deep learning researches such as Jean-Francois Gagne and Yoshua Bengio. Dr. Cornebise is from DeepMind himself. Through their work with Element AI, they hope to democratize AI and provide solutions to organization that have very specific needs which are currently neglected by the market.
Why It’s Important:
If the Fourth Industrial revolution is all about artificial intelligence, then it is important to enable all organizations, regardless of their size, to have access to these new technologies. With businesses like Element AI, organizations which lack the resources and the talent can now go high tech and get the equal chance to compete with other, giant organizations.