Google DeepMind CEO Demis Hassabis, left, and team lead David Silver talk during a press conference after finishing the fourth match of the Google DeepMind Challenge Match between South Korean professional Go player Lee Sedol and Google’s artificial intelligence program, AlphaGo, in Seoul, South Korea. AP Photo/Lee Jin-man)

DeepMind, the Google-owned artificial intelligence firm on a mission to create human-level AI, had an expensive year in 2017, according to documents published by Companies House in the UK on Thursday.

The AI lab saw its pre-tax losses more than double to ₤281.9 million ($368 million), up from ₤126.6 million ($164 million) in 2016.

DeepMind’s annual results show just how much Google is willing to spend on talent in order to win the AI battle. DeepMind makes next to no money, yet Google is willing to invest heavily in the company because it’s a bet for the future.

The majority of DeepMind’s expenses — up 104% to ₤333.8 million ($433 million) — can be attributed to staff, which cost the company ₤200 million ($260 million) in 2017, up 91% from ₤104.7 million ($136 million) in2016 DeepMind employs over 700 people across offices in London, Paris, Mountain View, Edmonton, and Montréal. A spokeswoman for the company refused to comment on average salaries.

DeepMind also spent ₤8.1 million on academic donations, which help fund research and student fees at universities like University College London. 

DeepMind recorded ₤54.4 million ($71 million) in revenue in 2017, up 35% from ₤40.3 million ($52 million) in 2016. The firm sold some of its software to Google, which has used DeepMind’s AI systems to make the cooling units in its data centres more energy efficient, and improved battery life on Android devices. 

Yann LeCun, chief AI scientist at Facebook, said in an interview last month that he does not think DeepMind has proven its worth to Google, adding that DeepMind is too isolated to have a significant impact on the tech giant. “I wouldn’t want to be in the situation Demis [the CEO] is in,” he said.

Demis Hassabis, cofounder and CEO, DeepMind, said in a statement: “We’re on a long-term scientific mission to solve intelligence and use it to benefit the world, and we’re really proud of the impact our work is already having in areas from healthcare to energy.

“Since our founding in 2010, we’ve assembled a world-class interdisciplinary team of machine learning experts, neuroscientists, engineers, ethicists and more, and created a unique environment where ambitious, long-term research can flourish. We intend to keep investing in our mission, and look forward to the scientific breakthroughs that lie ahead.”

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Google DeepMind CEO Demis Hassabis, left, and group lead David Silver talk throughout an interview after ending up the 4th match of the Google DeepMind Difficulty Match in between South Korean expert Go gamer Lee Sedol and Google’s expert system program, AlphaGo, in Seoul, South Korea. AP Photo/Lee Jin-man)

DeepMind, the Google-owned expert system company on an objective to develop human-level AI, had a costly year in 2017, according to files released by Business Home in the UK on Thursday.

The AI laboratory saw its pre-tax losses more than double to ₤2819 million ($368 million), up from ₤1266 million ($164 million) in 2016.

DeepMind’s yearly outcomes reveal simply just how much Google wants to invest in skill in order to win the AI fight. DeepMind makes beside no cash, yet Google wants to invest greatly in the business since it’s a bet for the future.

Most of DeepMind’s expenditures– up 104% to ₤3338 million ($433 million)– can be credited to personnel, which cost the business ₤200 million ($260 million) in 2017, up 91% from ₤1047 million ($136 million) in2016 DeepMind utilizes over 700 individuals throughout workplaces in London, Paris, Mountain View, Edmonton, and Montréal. A spokesperson for the business declined to talk about typical incomes.

DeepMind likewise invested ₤ 8.1 million on scholastic contributions, which assist fund research study and trainee charges at universities like University College London.

DeepMind tape-recorded ₤544 million ($71 million) in profits in 2017, up 35% from ₤403 million ($52 million) in2016 The company offered a few of its software application to Google, which has actually utilized DeepMind’s AI systems to make the cooling systems in its information centres more energy effective, and enhanced battery life on Android gadgets.

Yann LeCun, primary AI researcher at Facebook, stated in an interview last month that he does not believe DeepMind has actually shown its worth to Google, including that DeepMind is too separated to have a considerable influence on the tech giant. ” I would not wish to remain in the circumstance Demis [the CEO] remains in,” he stated.

Demis Hassabis, cofounder and CEO, DeepMind, stated in a declaration: “We’re on a long-lasting clinical objective to resolve intelligence and utilize it to benefit the world, and we’re actually happy with the effect our work is currently having in locations from health care to energy.

” Considering that our starting in 2010, we have actually put together a first-rate interdisciplinary group of artificial intelligence professionals, neuroscientists, engineers, ethicists and more, and developed a special environment where enthusiastic, long-lasting research study can grow. We mean to keep purchasing our objective, and eagerly anticipate the clinical developments that lie ahead.”

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Google DeepMind CEO Demis Hassabis, left, and group lead David Silver talk throughout an interview after ending up the 4th match of the Google DeepMind Difficulty Match in between South Korean expert Go gamer Lee Sedol and Google’s expert system program, AlphaGo, in Seoul, South Korea. AP Photo/Lee Jin-man)

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DeepMind, the Google-owned expert system company on an objective to develop human-level AI, had a costly year in 2017, according to files released by Business Home in the UK on Thursday.

The AI laboratory saw its pre-tax losses more than double to ₤ 281.9 million ($ 368 million), up from ₤ 126.6 million ($ 164 million) in2016

DeepMind’s yearly outcomes reveal simply just how much Google wants to invest in skill in order to win the AI fight. DeepMind makes beside no cash, yet Google wants to invest greatly in the business since it’s a bet for the future.

Most of DeepMind’s expenditures– up 104 % to ₤ 333.8 million ($ 433 million)– can be credited to personnel, which cost the business ₤ 200 million ($ 260 million) in 2017, up 91 % from ₤ 104.7 million ($ 136 million) in2016 DeepMind utilizes over 700 individuals throughout workplaces in London, Paris, Mountain View, Edmonton, and Montréal. A spokesperson for the business declined to talk about typical incomes.

DeepMind likewise invested ₤ 8.1 million on scholastic contributions, which assist fund research study and trainee charges at universities like University College London.

DeepMind tape-recorded ₤ 54.4 million ($ 71 million) in profits in 2017, up 35 % from ₤ 40.3 million ($ 52 million) in2016 The company offered a few of its software application to Google, which has actually utilized DeepMind’s AI systems to make the cooling systems in its information centres more energy effective, and enhanced battery life on Android gadgets.

Yann LeCun, primary AI researcher at Facebook, stated in an interview last month that he does not believe DeepMind has actually shown its worth to Google, including that DeepMind is too separated to have a considerable influence on the tech giant. “I would not wish to remain in the circumstance Demis [the CEO] remains in,” he stated.

Demis Hassabis, cofounder and CEO, DeepMind, stated in a declaration: “We’re on a long-lasting clinical objective to resolve intelligence and utilize it to benefit the world, and we’re actually happy with the effect our work is currently having in locations from health care to energy.

“Considering that our starting in 2010, we have actually put together a first-rate interdisciplinary group of artificial intelligence professionals, neuroscientists, engineers, ethicists and more, and developed a special environment where enthusiastic, long-lasting research study can grow. We mean to keep purchasing our objective, and eagerly anticipate the clinical developments that lie ahead.”

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