ServiceNow announced on November 30 that it would acquire Element AI, a Canadian startup dealing with artificial intelligence (AI). I want to enhance the AI function of the “now platform”. The terms of the acquisition have not been disclosed.
Headquartered in Montreal, Element AI is an artificial intelligence provider founded by machine learning pioneers such as Yoshua Bengio, and is funded by companies such as Microsoft, Nvidia, Intel, and Tencent. ServiceNow plans to acquire Element AI and establish a new global artificial intelligence innovation center in Canada. It also seems to look forward to acquiring key artificial intelligence talents to help develop its technology and expertise.
The Now platform is designed to help companies integrate legacy systems and improve work processes and processes. The acquisition is mainly focused on accelerating artificial intelligence innovation on the Now platform. ServiceNow uses Element AI’s AI technology to provide intelligent workflows, enabling all employees to “work smarter and faster, simplify business decisions and increase productivity. Take it to a new dimension.”
Vijay Narayanan, Chief Artificial Intelligence Officer of ServiceNow, said: “We use Element AI’s powerful capabilities and world-class talents to enable employees and customers to think creatively, interact with customers, and work in unpredictable ways. Let us focus on what can be demonstrated. Areas of human dominance. This is a smarter workflow approach.”
Element AI is like a consulting company, helping companies with limited AI experience to quickly deploy AI functions without having to build a dedicated team internally.
ServiceNow is currently led by former SAP CEO Bill McDermott (Bill McDermott). The company described the Element AI acquisition as one of the most important acquisitions to date. This will also be the latest in a series of investments to introduce AI to the Now platform. Element AI will become the fourth AI-related company acquired by ServiceNow in 2020 after Loom Systems, Passage AI and Sweagle.
According to ServiceNow, the acquisition is expected to be completed in early 2021, and Yoshua Bengio will serve as the company’s technical advisor.
This article was edited by Asahi Interactive for Japan from an article by Red Ventures overseas.
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