Plus: Cohere hires YouTube CFO as president.
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Successful use of AI in government means doubling down on human and democratic values (BETAKIT)
In recent years, the notion that technology can create a better world has drawn an increasing amount of skepticism. Governments can’t roll out simple apps. Big technology companies seem hard to trust. The oversights necessary for citizens to trust the embrace of AI by governments are still a work in progress.
AI and analytics platform Dataiku raises $200M at a reduced valuation (TECHCRUNCH)
A filing with the U.S. Securities and Exchange Commission shows that Dataiku intends to close its Series F with as much as $275 million. The $200 million from Wellington brings the New York-based startup’s total raised to roughly $600 million.
AltaML, Waabi, TrojAI among Vector Institute’s 20 Canadian AI startups to watch for 2023 (BETAKIT)
This week, Vector launched its inaugural report that highlights 20 Canadian AI startups. The roster was compiled after analyzing over 150 companies in the space that have achieved major milestones in 2021 and 2022, including funding rounds and projects won.
Rising AI startup Cohere hires YouTube CFO Martin Kon as president (THE GLOBE AND MAIL)
At just three years old, Cohere has become a centrepiece of Toronto’s renowned AI community, hoping to put up a formidable challenge to the OpenAIs of the world. In a press release on Wednesday, the company framed Mr. Kon’s hiring as a significant step in that direction, saying he has “extensive experience delivering innovative products to market, optimizing existing ones, and creating new revenue streams.”
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Layoffs persist at Canadian tech companies amid bleak outlook for 2023 (BETAKIT)
More than a dozen Canadian tech companies have recently laid off employees, BetaKit has learned, joining a growing list of firms to shed staff in 2022.
Exclusive: ChatGPT owner OpenAI projects $1 billion in revenue by 2024 (REUTERS)
Three sources briefed on OpenAI’s recent pitch to investors said the organization expects $200 million in revenue next year and $1 billion by 2024.
The forecast, first reported by Reuters, represents how some in Silicon Valley are betting the underlying technology will go far beyond splashy and sometimes flawed public demos.
Innovobot holds initial close of targeted $40 million fund to invest in “deep tech for good” (BETAKIT)
The Montréal-based firm is targeting a total fund size of $40 million (all numbers CAD) for Innovobot Resonance Ventures, its first fund since the firm was created in 2018.
Google execs warn company’s reputation could suffer if it moves too fast on AI-chat technology (CNBC)
At a recent all-hands meeting, employees raised concerns about the company’s competitive edge in AI, given the sudden popularity of ChatGPT, which was launched by OpenAI, a San Francisco-based startup that’s backed by Microsoft.
“Is this a missed opportunity for Google, considering we’ve had Lamda for a while?” read one top-rated question that came up at last week’s meeting.
Ferme d’Hiver raises $46 million CAD to replace 10 percent of Canada’s strawberry imports (BETAKIT)
Established in 2018, Ferme d’Hiver combines precision agriculture with engineering systems and artificial intelligence to design, deploy, and operate controlled-environment agriculture solutions.
Zappi raises $170M for its AI-based market research platform (TECHCRUNCH)
The majority of the investment is coming from Sumeru Equity Partners, with undisclosed co-investors. Zappi is also not commenting on its valuation with this round.
Golden Ventures’ Matt Golden has advice for startups fundraising in a down market (BETAKIT)
Investors who have recently raised enormous funds over the last two years still need to disburse that capital. According to Matt Golden, founder and managing partner of Golden Ventures, what changes are the variables that matter to investors.
G.M. unit’s self-driving taxis are subject of U.S. safety investigation (THE NEW YORK TIMES)
The agency, the National Highway Traffic Safety Administration, said in a filing posted on its website that it had received reports that autonomous taxis operated by G.M.’s Cruise division had become immobilized on roadways, creating obstacles for other vehicles. The agency also said G.M. reported three incidents in which Cruise vehicles slowed suddenly and were hit from behind.
Does scaling your startup feel like constant chaos? Here’s what to do. (BETAKIT)
Startup leaders are accustomed to the mantra of ‘move fast and break things’ because this growth-at-all-costs mentality produced some of the largest companies the world has ever known.
Are we there yet? It’s still the key question about quantum computing (THE GLOBE AND MAIL)
The University of Waterloo last month announced the creation of a minuscule device – so tiny it can fit more than a million times over on a grain of sugar – that twisted and expanded neutron beams into 10-centimetre-wide doughnut shapes.
While most people are unlikely to care about the experimental manipulation of subatomic particles, for those immersed in quantum science the novel device was another step toward one of the ultimate goals in the field: to build a full-fledged, all-purpose quantum computer.
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