Microsoft Ventures has launched a new fund targeting artificial companies, specifically those developing technology aimed at improving society.
“AI holds great promise to augment human capabilities and improve society by tackling some of the world’s biggest problems,” says Nagraj Kashyap, Corporate Vice President, Microsoft Ventures. “Companies in this fund will help people and machines work together to increase access to education, teach new skills and create jobs, enhance the capabilities of existing workforces and improve the treatment of diseases, to name just a few examples.”
The fund’s first investment is Element AI, an incubator and platform that helps organizations embrace an AI-first strategy in support of these principles. The Canadian startup is based in Montreal, where Google recently set up an AI research lab.
Other AI investments Microsoft has made recently include Tact, a sales experience platform that transforms a salesperson’s connected device into an AI-powered smart assistant, and Dynamic Signal, a communications platform company that increases productivity and engagement with timely, relevant content across multiple channels and devices.