SoftBank Vision Fund 2 led a $125M funding round for Observe.ai, a creator of AI algorithms that analyze customer service calls to improve contact centers. Another investor was Zoom Video Communications Inc., which could potentially announce a collaboration to use Observe.ai's technology in the near future. More: - Observe.ai developed an intelligent platform to assist human operators at call centers.
- Its natural language processing algorithms can analyze voice and text conversations with customers.
- The software transcribes calls and does sentiment analysis to gauge customer satisfaction and happiness.
- It also provides coaching for conversations and uses data to assist with reporting requirements.
- In a statement, Zoom Chief Product Officer Oded Gal said the company will leverage Observe.AI's technology to help contact center agents "deliver the new standard of customer experiences we envision."
- Existing investors Menlo Ventures, Scale Venture Partners, and Nexus Venture Partners also participated in the Series C round, which will help Observe.ai enter more markets and build out its technologies.
- Observe.ai, which carries the legal name of Z21 Labs Inc., has raised $231M to date.
SILICON VALLEY BUSINESS JOURNAL 
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China's internet regulator launched an investigation to weed out what it describes as algorithmic abuse by tech giants. The Chinese Cyberspace Administration (CCA) plans to send government officials to conduct on-site inspections at companies and ask them to submit their algorithms for review. More: - The CCA said it will target "large-scale websites, platforms, and products with big influence," though it didn't name any companies specifically.
- It could target algorithms from Chinese social media giants ByteDance Ltd., the owner of TikTok, and Tencent Holdings Ltd, according to Bloomberg.
- The move is likely a way to bring companies in line with China's new rules governing algorithms, which took effect on March 1.
- The regulator is seeking to prevent "abuse" and "bad information," according to a translation.
- Any internet giants found to have flawed or illegal algorithms could face fines or other penalties.
- Under the new rules, Chinese tech companies have to publicly share the inner workings of their algorithms and allow users to switch off personalized recommendations.
- The rules target algorithms linked to filtering, personalized push notifications, and other internet activities and contain a clause that bans algorithms from sharing fake news.
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Technology company Bosch announced that it is acquiring Five AI, which provides a platform to develop, test, and analyze data from self-driving vehicles. The British automated driving company said it chose Bosch over other buyers because the two "share a common vision of automated driving and of safe automated driving systems." More: - Five's cloud platform is focused on autonomous vehicle development and safety assurance.
- Through the deal terms, Bosch will acquire Five's IP as well as 140 employees in the U.K. It will combine the companies' software engineering teams into one.
- The acquisition is expected to boost Bosch's software development for safe automated driving. The German company already has an automated mobility division that develops driver-assistance systems.
- The financial terms of the deal weren't disclosed.
Zoom-out: - Five AI had raised $78M in funding and was last valued at $216M in a $41M funding round two years ago.
- At that time, Five pivoted to the B2B space from its initial plan to design a fully self-driving car.
PYMNTS.COM
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EvolutionIQ, a developer of AI-based claims guidance for insurers, secured $21M in Series A funding led by Brewer Lane Ventures. The fresh funding will go toward hiring, R&D, and the creation of new AI modules. More: - EvolutionIQ uses AI technology to streamline the workflow of insurance claims processing.
- The startup's platform analyzes historical claims and third-party data to help insurance companies improve claims handling.
- The system, based on deep learning, can help identify "high-opportunity" claims specifically involving bodily injuries and offer predictions on when and how much a claimant may recover.
- EvolutionIQ can guide frontline operators to "make more informed decisions" and focus on more high-potential claims, according to CEO Tomas Vykruta.
- Managers can "identify claims blocks that need further investigation and those that are easily resolved" and then offer guidance, he said.
- Vykruta, who co-founded EvolutionIQ in 2018, is a former developer expert and AI technical leader at Google.
- All major seed investors, including FirstRound Capital, FirstMark Capital, and Foundation Capital, participated in the latest round, along with Altai Ventures, Asymmetric Ventures, and others.
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Panera Bread is piloting a new AI-powered automated coffee system from Miso Robotics at two of its restaurants. Panera said the system will support the "Unlimited Sip Cup" membership it launched two years ago. More: - Called CookRight Coffee, the system combines predictive analytics with time, temperature, and volume data to tell employees when it's the optimal time to brew more coffee.
- It doesn't automate the actual coffee brewing process but uses sensors and AI to deliver insights through an interface and do away with manual coffee checks, CEO Mike Bell said.
- The goal is to optimize efficiencies and free up workers to do other tasks, the company said.
- California-based Miso is known for its AI-assisted robotics systems that can make tortilla chips, flip burgers, and fry foods.
- Chipotle recently announced it's testing an AI-powered chipmaking robot designed by Miso, with plans to debut it in a southern California restaurant later this year.
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Who's hiring in AI: - Lead Data Scientist, AI Engineering
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- Advanced Micro Devices, Inc. | Santa Clara, Calif.
- Senior Software Engineer, Python, Machine Learning
- Thomson Reuters | Eagan, Minn.
- Senior Machine Learning Engineer
- AI/Autonomous Systems Engineer
- Intel | Santa Clara, Calif.
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- The South China Morning Post profiled Max Lytvyn, Alex Shevchenko, and Dmytro Lider, the founders of AI grammar-checking app Grammarly.
- PC maker Razer and ML software firm Lambda Labs announced a new Tensorbook notebook that's designed specifically for machine learning.
- New York state's budget allotted $75M toward the University at Albany's Artificial Intelligence Supercomputing Initiative, which will establish a supercomputing center and add AI to the university's curriculum.
- Researchers developed a deep learning imaging algorithm to predict colors scenes that were illuminated in infrared light.
- VentureBeat chose 10 AI startups that it says demonstrate upward growth trajectories and "a broader context to their key differentiators, strategies and traction" as indicated by their CEOs. Visier, DataStax, and Vic.ai were on the list.
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 |  | Beth is a writer and analyst at Inside.com covering artificial intelligence and daily tech news. Since starting work at Inside, she has covered various topics including virtual reality, drones, and e-commerce. Prior to that she was a public policy and investigative reporter for The Arizona Republic, where she won a Pulitzer Prize nomination and First Amendment Award for reporting on the rising costs of pensions. Reach her at Beth.Duckett@inside.com. |   | | Editor | Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 Ford. | |
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