Microsoft Just Bought This Company...
Microsoft has taken another step forward in the tech world. The company recently announced that it's acquired the startup Lobe.
Lobe is the creator of a platform for building custom deep learning models that uses a visual interface. Not only that, but the visual interface also requires no code or technical understanding of artificial intelligence (AI). It's truly amazing...
Lobe is able to understand hand gestures, read handwriting, and hear music!
In a blog post, Microsoft chief technology officer (CTO) Kevin Scott said:
This in large part is because AI development and building deep learning models are slow and complex processes even for experienced data scientists and developers. To date, many people have been at a disadvantage when it comes to accessing AI, and we're committed to changing that.
Lobe's platform allows users to build, train, and ship custom deep learning models. What sets Lobe's platform apart is its drag-and-drop visual interface that requires little-to-no coding.
AI and deep learning continue to transform technology. But these types of systems are notoriously difficult to develop and build. They're complex, and it can be a slow process. This makes it harder for businesses to access AI and its full potential. And with the acquisition of Lobe, Microsoft has taken a big leap toward that accessibility...
Small But Powerful
Lobe was founded in 2015 and is based in San Francisco. And when I say it's a small startup, I mean small. Lobe currently only has three employees. But just because it's small doesn't mean there isn't some significant power behind what it has to offer with its platform.
Lobe's platform will help enhance what Microsoft already has in place with its AI features. Microsoft wants to take AI tools and make them easier for and more accessible to the general public.
According to Adobe, only 15% of enterprises are using AI as of today. But 31% are expected to add it over the coming 12 months.
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On its website, the Lobe team wrote:
As part of Microsoft, Lobe will be able to leverage world-class AI research, global infrastructure, and decades of experience building developer tools... Together we are committed to making deep learning simple, understandable, and accessible to everyone.
For Microsoft, Lobe is another company added to its list of recent acquisitions. This year, Microsoft acquired GitHub, four gaming companies, and an educational video-discussion vendor. But Microsoft has been keeping an eye out for AI startups.
Like Amazon, Google, and other technology companies, Microsoft is heavily focused on AI. Knowing that the industry is set to make some giant waves, Microsoft has been adding AI to its own services and offering AI tools to other companies.
AI will be the next frontier of computing. It's growing every day at an exponential rate. This industry will revolutionize the technology industry. And the technology will spread across various industries, like health care, automobile, manufacturing, and finance.
The technology is expected to give the global economy a $15.7 trillion boost. So, it would be foolish of Microsoft to not take advantage of what AI has to offer. And that's why it's been focused on acquiring other companies involved in AI. This industry is set to become something more powerful than we've ever seen before.
Until next time,
Monica Savaglia is Wealth Daily’s IPO specialist. With passion and knowledge, she wants to open up the world of IPOs and their long-term potential to everyday investors. She does this through her newsletter IPO Authority, a one-stop resource for everything IPO. She also contributes regularly to the Wealth Daily e-letter. To learn more about Monica, click here.
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