NEWS
MTS AI Center launches US $ 100 million Artificial Intelligence fund and global accelerator
technical expertise , boosting the capabilities of its investee firms to bring new products to the market .”
The VC fund and accelerator platform , Intelligent Machines ( Intema ), will focus on supporting Artificial Intelligence start-ups with smart money : financial support , deep technical and business expertise , access to computing power and networking , leveraging its world-class AI experts and the established position of its parent company , MTS , a leading multinational with expertise in telecoms , FinTech , cloud technology , Big Data and AI .
MTS AI Center , an international AI subsidiary of Russia ’ s largest telecom operator , MTS , has announced the launch of a US $ 100 million AI fund and accelerator to spearhead the development and commercialisation of AI solutions and promising AI start-ups across Asia , Europe and North America . Alexey Posternak , Chief Financial and Investment Officer and member of the BoD MTS AI Center , said : “ The guiding vision for MTS Artificial Intelligence Center is to establish itself as an AI institute with deep
Over the next three years , the MTS AI Center will invest more than US $ 100 million in AI start-ups via a venture fund that will invest up to US $ 20 million in individual projects and companies , and a start-up accelerator that will invest up to US $ 100,000 per project .
Rackspace Technology releases global survey results
Rackspace Technology has announced the results of a global survey revealing that 2020 drove a large-scale push for application modernisation .
According to the survey , The State of Application
Modernisation , 71 % of respondents said at least one out of four applications are undergoing active modernisation , and 24 % said more than half of all their applications are underdoing modernisation .
Most organisations have already paid a price for dragging their feet , over half of respondents said delaying application modernisation has resulted in failures to meet compliance requirements ( 56 %) and / or to scale critical services when required ( 51 %).
Jeff DeVerter , Chief Technology Evangelist , Rackspace Technology , said : “ The results paint a clear and consistent picture . Organisations of all sizes and across all industries have firmly bought into Digital Transformation and are actively pursuing strategies of continuous application modernisation . “ In fact , many have already experienced direct consequences from moving too slowly – which may explain why nine out of 10 organisations say their appreciation for the business value of applications has increased .”
The global survey included 1400 plus respondents in IT and non-IT business units , from companies with US $ 300 million annual earnings and above , including both decision-makers and application users .
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