Samsung Electronics has revealed its deal to acquire Viv Labs, Inc., that developed an open artificial intelligence (AI) platform.
Viv Labs’ innovative AI platform gives the power to third-party developers to build conversational assistants and integrate a natural language-based interface into applications and services.
The deal is part of Samsung’s strategy to focus on virtual personal assistants. The company’s vision is to deliver an AI-based open ecosystem across all of its devices and services.
Samsung will use Viv’s IA platform to simplify user interfaces, understand the context of the user and offer appropriate and convenient suggestions and recommendations.
AI visionaries Dag Kittlaus, Adam Cheyer and Chris Brigham are the founders of Viv Labs. The team will work with Samsung’s Mobile Communications business, but continue to operate independently under its existing leadership.
“Viv has a sophisticated natural language understanding, machine learning capabilities and strategic partnerships that will enrich a broader service ecosystem,” said Injong Rhee, CTO of the Mobile Communications business at Samsung Electronics.
Viv will be an ideal candidate to integrate with Samsung home appliances, wearables and more, as the technology shifts to intelligent interfaces and voice control.
Viv’s platform also allows developers to teach the system how to create new applications or to use existing applications, building an open ecosystem of intelligence that is greater than the sum of its parts and gets smarter every day.
“At Viv, we’re building the simplest way for anyone to talk to devices and services everywhere. We see a future that is decidedly beyond apps—where you can get what you need quickly and easily no matter where you are, or what device you are near,” said Viv co-founder and CEO, Dag Kittlaus.
Meanwhile, Zinnov said AI is disrupting industry verticals like Automotive, Manufacturing and Finance. There was a 10-fold increase in investments globally from $94 million in 2011 to $1049 million in 2016 in the last five years.
There are 2,277 Artificial Intelligence startups globally and the current market is of over $14.28 billion. U.S currently dominates the Artificial Intelligence (AI) Startup landscape. Europe’s Artificial Intelligence Startup ecosystem is emerging with a total of 441 startups currently and an overall investment of $1 billion.