Artificial Intelligence is not just a popular buzzword, it is a technology that is proving useful for some major industries. The number of AI startups in the past decade has increased and along with it, even the investment in these startups has been huge. Social Media giant Facebook is no stranger to AI technologies and the company’s latest acquisition of Deeptide Ltd reinstates that.
Facebook has been investing in new technologies for a while now with a particular focus on developing AI capabilities for computer vision, Natural Language Processing (NLP) and deep learning. In 2018, the company acquired or rather hired Bloomsbury AI for NLP research and very recently, Scape technologies, a London based computer vision startup.
The company had also acquired a visual shopping and Artificial Intelligence startup GrokStyle last year to boost its own AI work. Another move made by Facebook in 2017 was to rebrand its virtual assistant that was called M by taking over an AI startup called Ozlo. Ozlo was integrated with Facebook’s messaging App.
However, Deeptide Ltd was also acquired by Facebook in December last year and there wasn’t as much attention drawn towards it. Atlas ML was powered by Deeptide Ltd and is the custodian of “Papers With Code” which is an open-source providing machine learning papers.
As per an international publication, the acquisition was discovered in a regulatory filing and wasn’t announced by Facebook. Their sources say that the price is estimated to be around $40 million. Facebook is known to buy small startups from time to time, however, with major AI startups, the company can be seen heading towards an advanced level.