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AI Startup Sarvam Raises $41 Million to Tap India Growth

UK Strategic Plan to Spend £100 Million on AI Challenges

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As technology continues to evolve at an exponential rate, governments around the world are increasingly recognizing the importance of investing in the responsible development and regulation of artificial intelligence (AI). The United Kingdom, in particular, has announced plans to allocate over £100 million towards addressing the challenges posed by AI. This significant investment comes on the heels of recent developments within the European Union (EU), where member countries have reached an agreement on certain aspects of the AI Act.

Funding Research Hubs for Responsible AI Development

AI Startup Sarvam Raises $41 Million to Tap India Growth

Image Source: bloomberg.com

The UK government’s initiative includes the establishment of nine new research hubs across the country, with a focus on fostering the development of responsible AI. These hubs will serve as centers of expertise, spanning various disciplines such as healthcare, chemistry, and mathematics. By investing in these research hubs, the UK aims to bolster its capabilities in harnessing AI technology for the benefit of society while mitigating potential risks.

Part of the funding will also be allocated towards supporting regulators in adapting to the challenges posed by AI. Regulators will receive resources and tools to effectively monitor and address risks associated with the deployment of AI across different sectors, including telecommunications, healthcare, finance, and education. This proactive approach underscores the UK government’s commitment to staying ahead of the curve as AI continues to shape various industries.

Empowering Regulators and Promoting Innovation

While the UK has already made strides in AI regulation, there is a recognition of the need to further equip regulators for the age of AI. By providing them with the necessary skills and resources, regulators can respond swiftly to emerging risks while fostering an environment conducive to innovation and growth. This agile regulatory framework aims to strike a balance between ensuring safety and promoting technological advancement.

Michelle Donelan, MP, Secretary of State for Science, Innovation, and Technology, emphasized the transformative potential of AI in improving public services and driving economic growth. By embracing an agile, sector-specific approach to regulation, the UK is positioning itself as a global leader in reaping the benefits of AI safely and responsibly.

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Collaborative Efforts and International Engagement

The UK’s commitment to addressing the challenges of AI extends beyond domestic initiatives. Collaborative efforts, such as hosting the world’s first major AI Safety Summit and endorsing the Bletchley Declaration, underscore the importance of international cooperation in regulating AI. Furthermore, recent developments within the EU, culminating in the agreement on the AI Act, highlight the global momentum towards establishing clear guidelines for the ethical and responsible use of AI.

In conclusion, the UK’s investment of over £100 million in tackling the challenges posed by AI reflects a proactive approach towards harnessing the potential of this transformative technology while safeguarding against potential risks. By fostering research, empowering regulators, and promoting international collaboration, the UK is poised to lead the way in shaping the future of AI for the benefit of society.

US Navy, UK, Australia to Test AI System to Help Crews Track Chinese Submarines in Pacific

US Navy, UK, Australia to Test AI System to Help Crews Track Chinese Submarines in Pacific

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The United States and two of its closest companions are going to test an emerging artificial intelligence-based method for tracking Chinese submarines.

On Friday, the defence leaders of the United States, the United Kingdom, and Australia said that crews operating the US Navy’s finest naval surveillance as well as battle aircraft on Pacific operations will leverage artificial intelligence (AI) algorithms to quickly evaluate sonar data collected by submerged devices from all three countries.

US Navy, UK, Australia to Test AI System to Help Crews Track Chinese Submarines in Pacific

Image Source: business-standard.com

As they look for measures to counteract the effects of China’s fast military modernization and rising global authority, the allies may be able to detect Chinese submarines more quickly and accurately thanks to this technology. The experiments are a component of Aukus Pillar II, a comprehensive technology cooperation agreement involving the three countries.

“These joint advances will allow for timely high-volume data exploitation, improving our anti-submarine warfare capabilities,” according to a joint statement from US Secretary of Defence Lloyd Austin, Australian Defence Minister Richard Marles and UK Secretary of State for Defence Grant Shapps during a meeting in California.

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The three major powers said that they will use cutting-edge algorithms based on artificial intelligence (AI) on a variety of platforms, such as the P-8A Poseidon aircraft, to interpret data from each country’s sonobuoys, or underwater detecting sensors.

The Boeing Company’s maritime aircraft is flown by all three countries. The warplane, which is owned by the United States, is often patrolling the Pacific, such as the South China Sea, when Chinese fighters may sometimes swarm them. Poseidon is equipped with cruise missiles along with torpedoes to take out surface ships and submarines.

Aukus, a Greater Security Collaboration

The United States has sought a variety of regional partnerships to contain China, and the declarations are a component of the Aukus, a greater security collaboration involving the three allies.

The partnership’s first pillar, dedicated to enhancing Australia’s submarine capacity which is powered by nuclear energy, is to jointly construct a new submarine that will be deployed by 2040. Eight technology domains, such as quantum technologies, sophisticated cybersecurity, as well as hypersonic weaponry, are the focus of Pillar II’s collaboration efforts.

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According to the declaration, the three heads of defence will combine their capabilities to launch and retrieve underwater drone automobiles from torpedo tubes on their present submarines for undersea combat and information collection.

“This capability increases the range and capability of our undersea forces and will also support” Australia’s eventual new submarine called “SSN-Aukus,” the announcement read.

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Invensys

INVENSYS, A COMPANY FORMED BY MERGING TWO MULTINATIONAL CONGLOMERATES

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The true potential of the internet has been exposed towards the entire world within these couple of decades. There are many flourishing businesses in the tech market especially in the field of advanced software and telecommunication.

But, how many of these companies master their reputation in the technical world and industrial production as well? Software companies and production industry are two diametrically opposite points of a circle. But, Invensys, the global tech company has been successfully running its business for the last 20 years.

Invensys, founded in 1999 is a famous company divided into three segments, namely, software, industrial automation and energy controls. The company was formed by merging two gigantic multinational companies, BTR plc and Siebe plc. Though Invensys was founded in 1999, the actual history of the company dates back to the 1800s when Augustus Siebe started working for the Deane brothers.

In the 1800s

Born in 1788, Augustus Siebe was a famous British Engineering who was hired by the Deane brothers. Since Siebe specialized in designing diving tools and types of equipment, he was giving a project to modify the then-existing helmets for underwater activities.

Seeing his great improvement and contribution in the field, Charles Parsley, leader of the Royal Navy also made some suggestions to improvise his existing inventions. Once his work brought a revolution in the world of marine engineering, he moved to London and opened up his own company in 1819. This great man passed away on 15th April 1872 due to chronic bronchitis.

How Invensys was formed?

Siebe plc was originally formed in 1920 but it started making a significant presence in the world of engineering since the 1970s. The company made a lot of acquisitions starting from 1972. Some of the acquired companies are James North and Sons, CompAir, Foxboro Company, Triconex, Eurotherm, Esscor and many more.

The last company that Siebe acquired before merging with BTR plc was Esscor. All these companies made Siebe a versatile conglomerate pioneering in excellent software products, power industry, petrochemical industry and whatnot.

On the other hand, BTR plc was originally established as B.F. Goodrich Company and transformed itself into BTR Limited in 1956. The company started flourishing under the leadership of Sir Owen Green and made a lot of big acquisitions in 1982.

BTR started buying companies outside the UK which included the U.S, Canada, Australia, South Africa and Germany. By the time BTR merged, it happened to be famous for building products, polymers, packaging and materials engineering.
Finally, in 1999 both the companies shake hands-on mutual grounds to form Invensys.

Fate of Invensys

After a couple of years of the establishment of Invensys, Invensys Rails Systems was formed in 2001. In 2004, Invensys Controls was formed which was mainly created to monitor the control system (also included climate control) and its applications.

During these five years from 1999, Invensys went through a lot of crisis and even had the chance of dissolution. But, the company was somehow saved and opened another new sector, Invensys Operations Management in 2009.

Again after a couple of years, the business started falling with share prices dropping to almost 50%. The company decided to sale Invensys Rails followed by the entire company in 2013 to Schneider Electric. The entire acquisition was finally completed on 17th January 2014. The amount was finalized to £3.4 billion.

About Schneider Electric

The company was built in the 19th century by the Schneider brothers and since then they have owned the steel as well as the machinery market. Gradually, the company also entered into the market of construction and electricity in the 20th century and emerged out as one of the companies in recent days to focus on energy management.

The company invests quite an impressive amount of fund in this area keeping in mind the abrupt environment changes. In 2010, the company with Alstom, created Aster to provide support to the newly founded business in the area of efficient energy consumption and eco-friendly environment.

The company is currently headquartered in France with more than 155,000 employees. The company has gained unexpected recognition in India given that it was given the award of Best French Group in India in 2018.