Apple Buys Another AI Company; Self-Driving Car Execs Leave Alphabet – TheStreet

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Apple buys artificial intelligence startup Turi for a reported $200 millionApple (AAPL)  has bought Turi, a startup that provides software to developers that’s used to create apps and services leveraging machine learning, an increasingly popular branch of AI in which algorithms are used to detect patterns within a specific type of data — for example, images, text or video — and become better at doing so as more and more data is taken in. Tech news site GeekWire reports the purchase price is around $200 million.STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks with serious upside potential in the next 12-months. Learn more.The deal follows Apple’s purchases of Emotient, a start-up that was using machine learning to detect human emotions in faces, and Perceptio, a start-up working on AI technology that can run on smartphones, with little data going to the cloud. It also comes after Apple announced at its June developers’ conference that iOS 10 (due in September) will support AI-powered photo and text-analysis features. Unlike Alphabet’s (GOOGL) Google, which does its AI-related processing in the cloud, Apple’s processing will be done on iOS devices — this allows for better privacy, but limits how much horsepower is available.

Source: Apple Buys Another AI Company; Self-Driving Car Execs Leave Alphabet – TheStreet

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