AI expert and former Baidu AI boss, Andrew Ng recently launchedthat envisions to build transformativeAI companiesfrom the ground up. According to aby Ng, this startup incubator that will fund the work of experts in AI and machine learning, already has $175 million to boost the startups in this space.

Ng, who had also worked with Google and is the co-founder of Coursera, would be serving as the incubators general partner guiding the way funds should be used. Also, Eva Wang would serve as partner and COO, while Steven Syverud will join as a partner. The investors in this new fund include Greylock Partners, New Enterprise Associates, Sequoia Capital, and SoftBank Group.

AI Fund, that was first reported last summer plans to build companies from scratch rather than seeking existing startups to invest in. As the website says we believe AI companies must scale differently than other companies, so we do things a little differently. For a smooth execution Ng has plans to create teams that can immediately start experimenting with new ideas.

We are starting to see how AI will transform almost every industry. AI Fund teams are currently pursuing three newAI-powereddirections, some of which we hope to announce later. 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, said Ng in a blogpost.

With AI Fund, the team plans to overcome funding challenges in the AI space. Quoting that they find work in AI electrifying, with their recent venture, the AI Fund team hopes to help those entering the field of AI and build AI powered society.

He had announcedLanding.AIlast month, which is focused on using AI to transform manufacturing.

Ng had earlier addressed the issue of the doomsday theories about AI increasing unemployment. He had said that there has been much discussion about how people will work in an AI powered future, and retraining of workers for the next generation of jobs in AI is a challenge that his team is uniquely equipped to tackle.

Srishti currently works as Associate Editor for Analytics India Magazine. When not covering the analytics news, editing and writing articles, she could be found reading or capturing thoughts into pictures.

From Initial Screening To Predictive Hiring A Look At How AI Impacts Recruitment

How To Get Started With Preparing Data For Machine Learning

CYPHER 2019 Be Part of Indias Biggest AI & Analytics Summit

How SoftBanks Vision Fund Is Powering AI and Analytics Indian Startups

Top 10 Most Inspiring Tweets On AI That Blew Our Mind In 2018

Can Andrew Ngs Collaboration With The Indian Govt Open Doors For An AI-Led Economy?

Over 100,000 people subscribe to our newsletter.

See stories of Analytics and AI in your inbox.