Qualcomm Ventures recently set up their AI fund to invest up to $100 million in startups which transform artificial intelligence. The fund will focus on startups which want to invest in the area of on-device AI and make the technology more widespread. They are actively looking at investing in areas like autonomous cars, robotics and machine learning. These areas are linked comfortably with Qualcomm technologies which have created impressive processor technologies for mobile phones and other devices all over the world.

“At Qualcomm, we invent breakthrough technologies that transform how the world connects, computes, and communicates,” said Steve Mollenkopf, CEO of Qualcomm Incorporated. Talking about the future of artificial intelligence and their philosophy, Mollenkopf said, “For over a decade, Qualcomm has been investing in the future of machine learning. As a pioneer of on-device AI, we strongly believe intelligence is moving from the cloud to the edge. Qualcomm’s AI strategy couples leading 5G connectivity with our R&D, fueling AI to transform industries, business models and experiences.”

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