Cisco Corporation is launching a $1 billion investment fund to support startups working in the field of artificial intelligence, with the aim of increasing the readiness of customers to use AI technologies and implement their own strategy in this field.
Investment initiative
Expanding presence in AI
The giant of the telecommunications industry Cisco Systems announced the creation of a large-scale investment fund of $1 billion , aimed at financing startups engaged in development and research in the field of artificial intelligence. The company has already made its first investments in such promising AI startups as Cohere, Mistral AI and Scale AI.
Strategic Investments
Over the past few years, Cisco has made numerous acquisitions and investments in the field of artificial intelligence, having already allocated about $200 million from the newly created fund for these purposes. The corporation says it intends to work closely with AI companies on joint products, while maintaining its status as an independent player in the market, offering a wide range of solutions to its global customers.
History and current activities
Cisco Systems is a multinational corporation founded in 1984 in San Jose, California, specializing in the design, manufacture and sale of network equipment, software, telecommunications equipment and related services. After the start of the full-scale Russian invasion of Ukraine, the company left the markets of Russia and Belarus. In addition, Cisco provided assistance to the Ukrainian energy industry in countering cyberattacks, in particular by sending modified switches to Ukrenergo and helping to restore the work of mobile operator Kyivstar after a large-scale cyberattack.
Glossary
- Cisco Systems is a leading multinational corporation operating in the field of information technologies and telecommunications.
- Artificial intelligence (AI) is a branch of computer science that deals with the development of intelligent systems capable of performing tasks that normally require the human mind.
- Ukrenergo is a state-owned company, operator of the unified energy system of Ukraine.
- Kyivstar is one of the largest mobile operators in Ukraine.
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Answers to questions
What amount and for what purpose did Cisco allocate for investing in artificial intelligence?
In which companies have the initial investments from the newly created Cisco fund already been made?
What activities does Cisco plan to carry out, apart from investments in the field of artificial intelligence?
What information about Cisco is mentioned in the text?
What activity of Cisco in Ukraine is mentioned in the text?
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Discussion of the topic – Cisco invests $1 billion in artificial intelligence: the era of AI startups is coming
The giant of the telecommunications industry Cisco is launching a huge investment fund of $1 billion to support startups working on the development of artificial intelligence technologies. This indicates the company's serious intentions to strengthen its position in this promising industry.
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IvanKyiv
Hey, I like Cisco's initiative to invest in AI startups. 🤖💻 This can help stimulate innovation and the development of new technologies in the field of artificial intelligence. I wonder what projects they will support.
FranziMuenchen
This news is really exciting, IvanKyiv! 🇺🇦🇩🇪 It is important that Cisco remains an agnostic player in the AI market and will be able to offer different options for its customers. Investing in promising old-timers is a smart move.
AnnaWarszawa
With such a large fund of $1 billion, Cisco will be able to cover many different areas of AI. 💡 It is interesting to find out which startups will receive investments and how their developments will change the landscape of the industry.
LuisBarcelona
In my opinion, such large investments will be a powerful impetus for the development of the AI industry. 💰🚀 Perhaps it will even lead to breakthrough innovations and the creation of completely new technologies based on artificial intelligence.
GianniRoma
What about the ethical issues surrounding the use of AI? 🤔 I hope that Cisco and the startups in which they invest will take into account the possible risks and consequences of their developments. Security and privacy are very important topics in this industry.
PawełKraków
This is a really cool move by Cisco! 👏 In addition to financial support, they will also collaborate with startups on joint products. A great opportunity for young teams to gain experience and resources of a large corporation.
GrumpyGreg
But why all the fuss about AI? 😒 This is just another technological trend that will soon pass. Cisco would be better off investing in something more practical rather than wasting money on fancy toys.
MariaLviv
I think, GrumpyGreg, you are a little out of date in your views. 😉 AI is the future, and companies like Cisco understand this. Their investments can lead to significant breakthroughs that will affect many industries. So don't dismiss it so lightly!