Apple Acquired AI Startup Lattice.io For $200 million
Lattice.io is a data intelligence startup which utilizes machine learning to transform unstructured data into more usable information.
Apple is consistently investing more in AI development in order to meet the future demands and beat the competition in one way or another, Apple’s investment is increasing in research and development overall, as the company announced the investment plans last month.
Apple plans to invest $507 million in China for research and development purposes, which is underway.
The mobile phones market is becoming more and more saturated due to the rise of Chinese phones in the market. As Chinese companies are taking the emerging markets, which pushed Apple further down in the popularity list, Apple iPhone sales saw unexpected drop as well, also becomes wakeup call for Apple. On top of that Google Maps, Amazon and Ebay sneaked out from Apple watch, creates worrying scenario for Apple growth in the future.
But Apple is heading quite wisely by shifting its focus to entirely on newer technologies. Ai development is the top priority of Apple now,
Reported by Tech Crunch, Apple has acquired data intelligence company Lattice.io, the company uses machine learning to convert dark data into more useful data. Only two year old company was founded in 2015, it was an created out of the Stanford’s research project named “Deepdive” it was a framework to extract raw data from text.
Apple bought out the company for $200 million, according to the reports, the deal was completed about a couple of weeks ago, 20 software engineers from Lattice.io are going to join Apple soon.
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Lattice.io was co-founded by Michael Carafella, professor of computer science at the University of Michigan. Carafella, who is the company’s CEO, is a co-creator of Hadoop as well, an open-source technology designed for analysis of big volumes of data and Chris Re, a professor of computer science at Stanford University, is also among the co-founders of Lattice.io.
Apple confirmed the acquisition, however, Lattice.io did not respond to the request when asked.
“Apple says, we buy smaller technology companies from time to time, and we generally do not discuss our purpose or plans,” Apple’s spokeswoman said.
But experts can extract the probable future plans from these types of acquisitions.
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