Company type | Private |
---|---|
Industry | Artificial intelligence |
Founded | October 2016 |
Headquarters | , |
Parent | ServiceNow |
Website |
www |
Element AI was an artificial intelligence company headquartered in Montreal, Quebec. [1] [2] It was funded by the Government of Canada for CAD$5 million, [3] and raised US$102 million independently, [4] [5] [6] [7] before being acquired by ServiceNow. [8] [9] Prior to its acquisition, it had collaborated with Amnesty International, Twitter, Singapore Management University, the Port of Montreal, LG Electronics, and others to release several studies. [10] [11] [12] [13]
This article needs to be updated.(March 2023) |
Element AI was founded in October 2016 by Jean-François Gagné and co-founders Yoshua Bengio, Anne Martel, Nicolas Chapados, and Philippe Beaudoin, along with Jean-Sébastien Cournoyer of Montreal venture capital fund Real Ventures. [1] [4] [14] In early 2017, the company acquired the entire team of [15] an open source machine learning database. It then raised US$102 million from US investors in a series A round led by the San Francisco venture fund Data Collective and Microsoft Ventures. [4] [5] [6] [7]
In December 2018, the Government of Canada gave a loan of up to CAD$5 million to Element AI with the goal of creating 900 new jobs. [3] They later hosted a conference on the effects of AI, with Justin Trudeau and Mounir Mahjoubi establishing a global panel to study the effects of AI. [16] In December 2018, Element AI also partnered with Amnesty International and released a study measuring online abuse against women in politics and journalism on Twitter. [10] [11]
Element AI had partnerships with GIC, Singapore Management University, the Port of Montreal, LG Electronics, among others. [12] [13] At the Port of Montreal, Element AI was working to predict how long trucks will wait to drop off or pick up goods at the port. [13]
The company's first standalone product Underwriting Partner, an AI-assisted insurance underwriting workflow software, was released in September 2019. [17] [18] In December 2019, they released Knowledge Scout, a platform for data set management in manufacturing companies. [19]
On November 30, 2020, ServiceNow, a Californian cloud-based IT services company, announced it has signed an agreement to acquire Element AI. [8] [9] The company was running out of money and options and sold for US $230 million. [20] [21]
Company type | Private |
---|---|
Industry | Artificial intelligence |
Founded | October 2016 |
Headquarters | , |
Parent | ServiceNow |
Website |
www |
Element AI was an artificial intelligence company headquartered in Montreal, Quebec. [1] [2] It was funded by the Government of Canada for CAD$5 million, [3] and raised US$102 million independently, [4] [5] [6] [7] before being acquired by ServiceNow. [8] [9] Prior to its acquisition, it had collaborated with Amnesty International, Twitter, Singapore Management University, the Port of Montreal, LG Electronics, and others to release several studies. [10] [11] [12] [13]
This article needs to be updated.(March 2023) |
Element AI was founded in October 2016 by Jean-François Gagné and co-founders Yoshua Bengio, Anne Martel, Nicolas Chapados, and Philippe Beaudoin, along with Jean-Sébastien Cournoyer of Montreal venture capital fund Real Ventures. [1] [4] [14] In early 2017, the company acquired the entire team of [15] an open source machine learning database. It then raised US$102 million from US investors in a series A round led by the San Francisco venture fund Data Collective and Microsoft Ventures. [4] [5] [6] [7]
In December 2018, the Government of Canada gave a loan of up to CAD$5 million to Element AI with the goal of creating 900 new jobs. [3] They later hosted a conference on the effects of AI, with Justin Trudeau and Mounir Mahjoubi establishing a global panel to study the effects of AI. [16] In December 2018, Element AI also partnered with Amnesty International and released a study measuring online abuse against women in politics and journalism on Twitter. [10] [11]
Element AI had partnerships with GIC, Singapore Management University, the Port of Montreal, LG Electronics, among others. [12] [13] At the Port of Montreal, Element AI was working to predict how long trucks will wait to drop off or pick up goods at the port. [13]
The company's first standalone product Underwriting Partner, an AI-assisted insurance underwriting workflow software, was released in September 2019. [17] [18] In December 2019, they released Knowledge Scout, a platform for data set management in manufacturing companies. [19]
On November 30, 2020, ServiceNow, a Californian cloud-based IT services company, announced it has signed an agreement to acquire Element AI. [8] [9] The company was running out of money and options and sold for US $230 million. [20] [21]