Cisco has recently announced the launch of a £782 million ($1 billion) artificial intelligence (AI) fund in order to invest in AI startups. The company’s investment division has already committed almost £156 million ($200 million) to startups such as Cohere, Mistral AI, and Scale AI. Scale AI, an AI data startup, is currently valued at almost £10 billion ($14 billion), while foundation model developers Cohere and Mistral are in talks to raise funds at a valuation of £3.9 billion ($5 billion) each.
Over the past few years, Cisco has made over 20 AI-focused acquisitions and investments to enhance its integration of generative AI and machine learning throughout its portfolio. A recent report titled “Leadership in the Age of AI” by global consulting firm Kearney and leadership advisory firm Egon Zehnder found that 73% of business leaders feel unprepared for AI transformation due to various constraints like limited time, people, and funds. Despite these challenges, 85% of leaders see AI as an opportunity for their organizations, and over 90% see it as an opportunity for themselves personally within their roles.
As the tech industry continues to evolve with the advancements in AI technology, staying informed and being part of the latest technology conversations is crucial. Discovering pioneering innovations and being part of exciting tech events can provide valuable insights and networking opportunities for individuals and organizations looking to stay ahead in the ever-changing tech landscape.
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