Last week, on the heels of DeepMind’s breakthrough in using artificial intelligence to predict protein folding came the news that the UK-based AI company is still costing its parent company Alphabet Inc hundreds of millions of dollars in losses each year. A tech company losing money is nothing new. The tech industry is replete with […]
Sales jump at UK salmon smoker Grants
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Dec. 31, 2020 10:35 GMT
UK salmon smoker Grants Oak Smoked, formerly MacKnight, has reported a 35% increase in sales to £23.57 million in 2019 after a very successful year financially . [.]
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Scottish pelagics fishing company Lunar Fishing has reported a small drop in profit and revenue for 2019 [.]
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Google AI unit reports huge losses
The London-based company published its filings with the UK Companies House registry.
It reported dramatic losses for the second year in a row, as well as £1.1bn of debts, waived by Google.
Google bought DeepMind in 2014, for around £400m, to compete against other tech companies turning to machine learning to enhance their businesses.
DeepMind recently struck a major breakthrough by demystifying ‘protein folding,’ potentially making treatments of all manner of ailments and diseases far easier in the future.
Projects for Google include reducing electricity used at Google’s data centre and creating a more natural voice for the Google Assistant.