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In Canadian first, Gatik and Loblaw take safety drivers out of autonomous delivery trucks (BETAKIT)
The move marks a Canadian first for fully driverless vehicles, as Gatik claimed that this is the first time that an autonomous trucking company has removed the safety driver from a daily delivery route in the country.
Even After $100 Billion, Self-Driving Cars Are Going Nowhere (BLOOMBERG)
They were supposed to be the future. But prominent detractors—including Anthony Levandowski, who pioneered the industry—are getting louder as the losses get bigger.
InBC reveals direct, indirect investment strategy for $500 million fund (BETAKIT)
InBC plans to invest broadly from pre-seed to Series C and beyond, with at least 70 percent of the fund in private equity and venture and up to 30 percent into private debt.
The crown corporation said four impact objectives will guide its investments: to drive climate action, innovate for the future, advance reconciliation, and elevate inclusive communities.
U.S. Said to Plan New Limits on China’s A.I. and Supercomputing Firms (THE NEW YORK TIMES)
The Biden administration is expected to announce new measures to restrict Chinese companies from getting access to technologies that enable high-performance computing, according to several people familiar with the matter, the latest in a series of moves aimed at hobbling Beijing’s ambitions to craft next-generation weapons and automate large-scale surveillance systems.
How TD is working to open-source equity education (BETAKIT)
Speaking with BetaKit, Samantha Estoesta, Manager of Equity in Innovation and Programs at TD Lab, explained the origins of the Equity Resource Hub and its core five-step process any company can use to help build more inclusive products and services.
Uber and Motional to launch robotaxis across US over 10 years (TECHCRUNCH)
Motional, the Aptiv-Hyundai joint venture commercializing self-driving vehicle tech, will put its robotaxis on the Uber network later this year as part of a 10-year operating agreement that will eventually roll out to major cities across North America. The deal comes a year after the two companies struck a partnership to test autonomous delivery in Santa Monica, California using Motional’s autonomous vehicles.
Two Small Fish goes big with third fund, targets $40 million CAD final close (BETAKIT)
Founded in 2014 as an angel investment group, Two Small Fish comes to its third fund with five exits overall, including SkipTheDishes, which exited to the tune of $110 million CAD. Two Small Fish has also invested in Sheertex, unicorn startup Ada, and TealBook.
Exclusive: Boston Dynamics pledges not to weaponize its robots (AXIOS)
Robots, like drones before them, have a wide range of peaceful and even life-saving uses, but can be turned into war-fighting machines, too.
"We believe that adding weapons to robots that are remotely or autonomously operated, widely available to the public, and capable of navigating to previously inaccessible locations where people live and work, raises new risks of harm and serious ethical issues," the companies said in the letter.
BetaKit Live: Fighting back against cyber threats (BETAKIT)
In partnership with TELUS Online Security, BetaKit is happy to present a live-streamed panel conversation on what Canadians need to know about cybersecurity threats while providing practical solutions for online protection.
White House proposes voluntary safety and transparency rules around AI (TECHCRUNCH)
The White House this morning unveiled what it’s colloquially calling an “AI Bill of Rights,” which aims to establish tenets around the ways AI algorithms should be deployed as well as guardrails on their applications.
In five bullet points crafted with feedback from the public, companies like Microsoft and Palantir and human rights and AI ethics groups, the document lays out safety, transparency and privacy principles that the Office of Science & Technology Policy (OSTP) — which drafted the AI Bill of Rights — argues will lead to better outcomes while mitigating harmful real-life consequences.
Avidbots closes $70 million USD Series C round to grow fleet of commercial cleaning robots (BETAKIT)
While Jeneration Capital mainly invests in technology companies in Greater China, Avidbots has long had operations in Asia, spanning Singapore, Hong Kong, and mainland China. The Series C round comes more than three years after Avidbots raised a $23.6 million USD ($31.5 million CAD) Series B round. According to the startup, its total funding to date sits at $107 million USD.
AI Is Making Its Way Into Drug Discovery. What Does It Mean For Biotech? (CRUNCHBASE)
Very little about drug development is efficient. The failure rate for drugs making their way to commercialization is 90%, after which more than around $1 billion and 10 years is sunk into each one on average.