Friday, November 22, 2024
8.7 C
New York

Apple acquires AI startup specializing in overseeing manufacturing components

Apple has added another AI startup to its acquisition list with Canada-based DarwinAI, which specializes in vision-based tech to observe components during manufacturing to improve efficiency, Bloomberg reported.

While Apple and DarwinAI haven’t announced this deal, several members of the startup’s team joined Apple’s machine learning teams in January, as per their LinkedIn profiles.

DarwinAI had raised over $15 million in funding across various rounds from investors, including BDC Capital’s Deep Tech Venture Fund, Honeywell Ventures, Obvious Ventures and Inovia Capital. BDC Capital confirms on its website that it has received an exit from DarwinAI, whereas Obvious Ventures has updated its portfolio to reflect that the startup has been acquired.

BDC Capital and Obvious Ventures didn’t comment on the story at the time of writing. We have reached out to Apple for a comment, and we will update the story if we get a response.

As Bloomberg noted in its report, apart from helping with manufacturing efficiency, DarwinAI uses techniques to make AI models smaller and faster. This could be useful for on-device generative AI features Apple hopes to introduce in iOS 18 this year.

Apple has lagged in releasing GenAI-powered features as compared to competitors like OpenAI, Google, Meta and Microsoft. In February, Tim Cook said the company plans to introduce such features “later this year.”

“We continue to spend a tremendous amount of time and effort and we’re excited to share the details of our ongoing work in that space later this year,” Cook said during a quarterly earnings call with analysts.

Last year the Apple CEO had confirmed investment into GenAI efforts. Apple’s job listings have suggested the company is exploring infusing AI in multiple internal and external areas, including, Siri, developer tools and customer support.

source

Hot this week

Banking as a Service: Meaning, Examples, Benefits and Future

The push for open banking has led to a...

What is Fintech?

Fintech: A term used to refer to innovations in...

Best fintech blogs and websites

Fintech (financial technology) has been an interesting part of...

How to buy shares online

Buying shares online in India has come a long...

Is it worth investing in life insurance over 60?

Is it worth investing in life insurance over 60? As...

TrueLayer Cuts Workforce Amid Profitability Push and $50M Funding Boost

Workforce Reductions: TrueLayer, an open banking payments company...

Amundi Acquires Aixigo to Expand Wealth Management Technology Offerings

Strategic Acquisition: Amundi, Europe’s leading asset manager with...

Celero Commerce Acquires Precision Payments to Expand SME Payment Solutions

Acquisition Announcement: US fintech Celero Commerce has acquired...

Trust Payments Appoints Laurence Booth as New CEO to Drive Growth

Trust Payments, a leading London-based paytech company, has...

NatWest Partners with NCR Atleos to Modernize 5,500 ATMs

NatWest Group has expanded its collaboration with NCR...

Gate City Bank Partners with Alkami for Enhanced Digital Banking Solutions

Gate City Bank Embraces Alkami's Technology: North Dakota-based...

UK Government Unveils Strategy to Boost Financial Services Growth and Innovation

Driving Competitiveness in Finance: The new Labour government,...

Related Articles

Popular Categories

spot_imgspot_img