Google Acquires Artificial Intelligence Startup DeepMind For More Than $500M

Google Inc. (NASDAQ:GOOG)
Google Inc. (NASDAQ:GOOG)

Google Inc (NASDAQ:GOOG) is all set to spend over $500 million to acquire DeepMind, which is a company of artificial intelligence based in London; DeepMind was created by Demis Hassabis. The same startup sparked Facebook Inc’s interest last year. Google confirmed the acquisition.

Google Inc (NASDAQ:GOOG) will be in a better position to take on other tech corporations with DeepMind in its corner. Google is not the only one focusing on deep learning; Yann LeCunn an NYU professor was hired by Facebook to head its artificial intelligence laboratory; IBM is also taking a lot of interest in deep learning along with Yahoo that acquired LookFlow to head its group for deep learning.

Many believes that this acquisition that was headed by Larry Page, Google’s CEO is yet another initiative taken by Google to expand its work force for artificial intelligence. If Google Inc (NASDAQ:GOOG) gets DeepMind’s all three founders than it will have a team consisting of the three founders and Ray Kurzweil who is known as an author, futurist, entrepreneur and inventor; Kurzweil became part of Google back in 2012. Kurzweil aspires to turn Google into a powerful search engine that would be similar to something called “cybernetic friend.” Google has surprised critics with some of its recent acquisitions, such as Boston Dynamics and Nest; however its DeepMind acquisition seems more logical and understandable.

In order to ensure proper usage of DeepMind, Google is likely to formulate its ethics board that will help prevent any misuse of the company’s artificial intelligence.

Google will have to be a little more specific in terms of explaining the real purpose and objective of DeepMind’s artificial intelligence because the current description of its artificial intelligence is quite vague stating the broader objective. According to resources, Google’s startup already has 75 employees.

Re/code states that the startup has successfully secured Horizons Ventures and Founders Fund as its investors.

According to Larry Wasserman a professor at Carnegie Mellon, Google’s startup is attempting to create a system that has the ability to think. Mellon was not convinced by the idea however the long list of billionaire investors helped changed his mind.

In the premarket, shares of Google Inc (NASDAQ:GOOG) went up by 0.82%.