Yoga guru Baba Ramdev openly attacking multinationals, calling their products dangerous

Aug 15, 2016 0

By Sidhartha Dutta

New Delhi– Even as Prime Minister Narendra Modi is promoting ‘Make in India’ and actively seeking foreign investments, Yoga guru Baba Ramdev is openly attacking multinationals, calling their products “dangerous” in a concerted ad campaign.

MNCs are terming the campaign a marketing gimmick, but they can’t entirely ignore it either, as Ramdev’s consumer products empire is rapidly growing and challenging their bottomlines.

At stake is a piece of the $40 billion processed food industry, growing annually at 11 percent per year. Stakeholders hope the government will eventually crack down on the “misleading” advertisements of the Baba Ramdev-led Patanjali, whose top brass is considered close to the powers that be.

Baba Ramdev

Baba Ramdev

“We live in a democratic nation, where the consumer is king. The consumers decide what is good and what is bad for them,” said Sagar Kurade, President, All India Food Processors’ Association (AIFPA), reacting to the advertisements.

“This country has a policy in place where any multinational company is free to invest in the food processing sector and any domestic company is free to grow, considering the rules and regulations associated with the sector are adhered to,” Kurade told IANS.

In a promotional by Patanjali on 104.0 Fever FM, Baba Ramdev is himself leading the charge.

“Hair oils have cancer-causing mineral oils, biscuits and noodles have refined flour, drinks have cold drink (aerated drinks) and liquor, food items are adulterated, cosmetics have chemicals. These products, and foreign companies, are dangerous for us and our country,” he says.

“Since they take the country’s wealth outside and don’t do any charity work here, the alternative is Patanjali’s pure and home-produced campaign, the main aim of which is charity and patriotism. Adopt Patanjali and give economic freedom to our country.”

Such an advertising campaign comes close on the heels of India relaxing its foreign equity norms to allow 100 per cent investment in trading of food products that’s manufactured or produced in India, including sales through e-commerce, to cut wastage, check price rise and help farmers.

“In a vibrant economy — whether a domestic company is trying to become a multinational or a multinational is trying to capture domestic market — they are free to compete against each other,” Kurade said.

“Baba Ramdev is now a business professional like any other company. He’s promoting his brands. If the outlook was that only Indian products will be sold, then there are a number of Indian companies — Dabur and Emami are Indian companies,” added Amit Dhanuka, CEO of Kejriwal Bee Care India.

“This is just a marketing gimmick and nothing else,” added Dhanuka, a past President of AIFPA.

“There has already been a complaint against him (Baba Ramdev) the way he has been advertising and it is just a matter of time before the government will become harsh on him. This is something which is momentary and with time people will understand and all the image he has built will wane.”

Patanjali spokesperson S.K. Tijarawala defended the campaign. “Modi is the head of the government and free to keep the government’s view. I don’t think there’s any bar on trading and dealing with Indians,” he said, alluding that allowing foreign equity does not bar the domestic industry.

Both Kurade and Dhanuka, as also other stakeholders IANS spoke to — most of whom requested anonymity — felt that a large market like India cannot be dented by a single company, more so as it is dominated by small-scale units and the unorganised sector.

“The fact of the matter is that almost 75 per cent of the food processing industry is small- and medium-sized enterprises-sector driven. Big companies are primarily competing for 25 per cent of the market share,” said Kurade.

But the market for big players is also not small either. Patanjali, whose turnover was not officially known being a private, unlisted enterprise, recently said its income during 2015-16 was Rs 5,000 crore, with a target of Rs 10,000 crore this year.

In contrast, the operating income for the Indian arm of Nestle — that has a presence in this country for over 100 years — was a little over Rs 80,000 crore last calendar year, while for Britannia, which was set up around 125 years ago, it was around 8,500 crore in 2015-16.

Dhanuka also made a technical point on the Food Safety Standards Authority of India (FSSAI).

“He (Baba Ramdev) is showing his products are approved by FSSAI. The fact is it doesn’t approve a product. It is a regulatory body. It comes out with different standards. As an Indian company, it (Patanjali) should follow them. Every company follows those regulations, not just Patanjali.”

Without going into the specifics of any issue, Patanjali’s Tijarawala said there was a need for an institution that trades in home-grown products and uses the profits for the development of the country.

“They (foreign companies) are taking the profits with them and that is of no use for India. Our country will strengthen only when we promote trade in the country by promoting and manufacturing of swadeshi (home-grown) goods. This will also generate employment,” he said.

Asked if this did not go against the government’s policies, Tijarawala said: “We don’t have any differences with the government. Let them bring FDI. Let them push ‘Make in India’. That’s their job. Our job is to strengthen our people by providing opportunities. Where is the controversy?”

Read More

Tina Ambani launches multiple cancer initiatives for Maharashtra

Aug 13, 2016 0

Mumbai–In a major boost for oncology treatment, the Kokilaben Dhirubhai Ambani Hospital (KDAH), Andheri, here will set up 18 sophisticated cancer care centres in mofussil areas, a top official said here on Saturday.

KDAH Chairperson Tina Ambani also announced the launch of Edge Radiosurgery system — a first in South Asia — to offer a precise, non-invasive alternative to conventional cancer surgery.

“The launch of Edge and 18 cancer centres in Maharashtra not only represents a significant milestone in our journey but reaffirms KDAH’s endeavour to make international innovations available and accessible to all Indians,” Tina Ambani said on the occasion.

She described cancer as “one of the biggest public health challenges of our times” which the KDAH was ready to tackle head on with its medical talent and world-class technology as part of its focus on advancing healthcare technologies and medical excellent to facilitate healthcare access in the country.

Maharashtra Chief Minister Devendra Fadnavis at the launch of Kokilaben Dhirubhai Ambani Hospitals Oncology Program

Maharashtra Chief Minister Devendra Fadnavis at the launch of Kokilaben Dhirubhai Ambani Hospitals Oncology Program

Lauding the KDAH move, Chief Minister Devendra Fadnavis said it would take the fight against cancer to the next level and the state needs many more such institutes to take the initiative in advancement in healthcare.

“The launch of Edge is important because the precision technology will not only bring down cost but also reduce the pain and trauma of the patients and their families. KDAH has become a technological milestone in the country,” Fadnavis said.

The Reliance Group’s KDAH will acquire 18 advanced TrueBeam medical linear accelerators to equip the new cancer centres in Maharashtra, the first of which are likely to be operational in Akola, Gondia and Solapur in 2017, and the rest will roll out in a couple of years.

The evolution in advanced surgery was facilitated in the presence of internationally renowned radiation oncology specialists — Dr. M. Salim U. Siddiqui from Henry Ford Health System, Detroit, USA and Prof. Carlo Greco, Managing Director and Director of Clinical Research, Champalimaud Centre for the Unknown, Lisbon, Portugal.

The two medicos Siddiqui and Greco are in India to share their knowledge and expertise in the new technology among leading oncologists from India.

Explaining the benefits of Edge Radiosurgery, KDAH’s head of Radiation Oncology Dr. Kaustav Talapatra said its a non-invasive technique using a GPS-enabled tracking device that helps the radiologist constantly track the movement of affected cells even as treatment is being delivered, allowing treatment with a high degree of accuracy.

“This precision radiation provides huge advantages in term of convenience, cost and comfort for patients as the number of sessions reduces significantly, with no incision or hospital stay, thereby enabling them to return to their normal lives within 15-30 minutes or less,” Talapatra said.

Ashok Kakkar, Sr. MD, Varian India which is the market and technology leader in radiotherapy and radiosurgery systems, said KDAH’s plan to install 18 TrueBeam machines is the largest, one-time commitment by any single institute.

“This is a major investment program by KDAH to remain ahead of the curve in adopting latest technologies in line with the best global practises in the area of Cancer care across the state of Maharashtra,” Kakkar said.

KDAH’s Centre for Cancer deals with the widest range of cancers and brings together multidisciplinary expertise under a single roof to offer a broad scope of cancer services, public education, screening, diagnosis, treatment, pain management and palliative care.

According to National Cancer Institute, a whopping 1.25 million new cancer cases are reported every year in India, but there are only a few comprehensive cancer care centres in the country, with a majority located in the metros. (IANS)

Read More

Indian-American, who sold two firms for $340 million, sentenced to jail for domestic violence

Aug 13, 2016 0

San Francisco– A San Francisco judge has sentenced former technology mogul Gurbaksh Chahal to one year in jail for violating his probation in a 2014 domestic violence case.

Chahal, 34, who made a fortune in the advertisement technology business, has been charged with domestic violence for allegedly hitting his then girlfriend 117 times in 2014, newsweek.com reported on Saturday.

Gurbaksh S. Chahal (Photo courtesy: Under 30 Ceo.com)

Gurbaksh S. Chahal (Photo courtesy: Under 30 Ceo.com)

He was accused of attacking another woman in the same year.

Chahal was, at the time, already on probation after pleading guilty to two misdemeanours of battery and domestic violence.

San Francisco Superior Court Judge Tracie Brown has now ruled that there was enough evidence in the case to revoke Chahal’s probation.

Brown ordered him to turn over his passport as well as transfer the ownership of Gravity4 — his ad tech company — to his sister.

Chahal gained fame when he sold his startup ‘BlueLithium’ for $300 million to Yahoo at age 25.

Born in 1982 in Punjab, Chahal is the youngest of four children and moved to the US with his parents at age 3.

At 16, in 1998, he dropped out of school to start his own digital advertising company, Click Agents. Within two years, Chahal sold Click Agents for $40 million.

By 2008, he became a Silicon Valley legend.

In 2009 the syndicated entertainment programme “Extra TV” named him one of the America’s “most eligible bachelors.”

Oprah Winfrey interviewed him on a segment of her show she called “Millionaire Moguls.”

Read More

Intercontinental Exchange Launches ICE Swap for Trading Credit Default Swaps

Aug 13, 2016 0

NEW YORK–Intercontinental Exchange, an operator of global exchanges and clearing houses and provider of data and listings services, announced the launch of ICE Swap, a platform for trading cleared single name credit default swaps (CDS) in a central limit order book, the company announced.

ICE Swap leverages Creditex’s electronic trading technology and consolidates orders from both buy- and sell-side market participants to create a pool of liquidity for single name CDS.

Krishan Singh

Krishan Singh

“ICE Swap is the only single name CDS platform offering cleared-only liquidity across the credit spectrum while extending established electronic trading protocols to the entire CDS market,” said Krishan Singh, President of ICE Swap Trade. “We’re pleased that a number of trades have already been executed by both the sell-side and buy-side in the first few days post launch. We worked closely with a range of participants to optimize our protocols to improve liquidity, transparency, and confidence in this important market.”

ICE Swap is the first platform to include several innovative features, including both anonymous and ‘name give up’ execution in the same order book, meaning that participants can choose to reveal their identity after the trade is consummated. It also has full pre- to post-trade connectivity, including pre-trade credit checks and direct-to-clearing workflow.

Read More

Carrum Health Named Finalist in Harvard Business School-Harvard Medical School Health Acceleration Challenge

Aug 12, 2016 0

BOSTON– The Forum on Health Care Innovation, a collaboration between Harvard Business School (HBS) and Harvard Medical School (HMS), announced the four finalists in its Health Acceleration Challenge, which focuses on taking compelling, already-implemented health care solutions and helping them to grow and increase their impact through powerful networking and funding opportunities.

One of the finalists is Carrum Health, which is founded by Sachin Jain. Carrum Health directly connects self-insured employers to top-quality regional healthcare providers through the industry’s first comprehensive bundled payment solution. Jain founded Carrum Health in San Francisco in 2013. Prior to that, he served as a management consultant Booz & Company.

Sachin Jain

Sachin Jain

Addicaid, Carrum Health, Ochsner Health System, and Radial Analytics emerged as the 2016 finalists in the challenge. The finalists will share $150,000 in prize money now, with an additional $50,000 going to the eventual winner, who will be named a year from now, after the four finalists have pursued their dissemination plans. All of them will become the subject of an HBS case study.

Since its launch in 2014, the Health Acceleration Challenge has received over 600 applications and attracted more than 25,000 online visitors from 29 countries.

The 2016 Health Acceleration Challenge finalists are:

Addicaid: An addiction wellness platform for patients, payers, and providers.

Carrum Health: Rationalizing cost and quality in healthcare…bundle by bundle.

Ochsner Health System: A technology-enabled and precision-based model of care to conveniently and proactively manage the nation’s most prevalent chronic condition.

Radial Analytics: An evidence-driven decision support platform to help hospitals reduce post-acute costs for shared-risk patients while improving outcomes.

A team of 24 judges–a mix of clinicians, health care professionals, and academics–specializing in health care and innovation, reviewed the applications. Applications were rated based on the three Challenge criteria of impact, evidence, and dissemination, and given an overall score to create a short list of 21 innovations. These 21 innovations went through additional rounds of judging to identify 7 ‘shortlisted’ candidates and, ultimately, 4 strong finalists.

The funding for the Health Acceleration Challenge was provided by a generous gift from Howard E. Cox, Jr. (MBA 1969), a former general partner and now advisory partner in one of the country’s first and most successful venture capital firms, Greylock Partners, and a member of both the HBS Healthcare Initiative Advisory Board and the HMS Board of Fellows. During his long and distinguished career, Cox has been involved in the funding and development of many successful healthcare ventures.

“Health care delivery often suffers from extreme fragmentation and localization. This Challenge is a step in trying to change that,” said Cara Sterling, Director of the HBS Health Care Initiative. “It’s exciting to see innovations dealing with all different parts of the health care value chain. These ideas, and many others we received, have the potential to make a great impact on the U.S. health care system if scaled up in a dramatic way.”

The HBS-HMS Forum on Health Care Innovation is led by a steering committee composed of Sterling as well as MBA Class of 1961 Professor of Management Practice Richard G. Hamermesh and Albert J. Weatherhead III Professor of Business Administration Robert S. Huckman, all from Harvard Business School, and from Harvard Medical School, Dr. Barbara J. McNeil, Ridley Watts Professor and founding head of the Department of Health Care Policy, and Joseph P. Newhouse, John D. MacArthur Professor of Health Policy and Management.

Read More

Microsoft most innovative place to work

Aug 12, 2016 0

San Francisco– Microsoft’s employees are more innovative than Apple’s, and Facebook’s staff are less creative than most tech workers, says a study led by Indian-origin entrepreneur.

The findings showed that Facebook lags behind the others in cultivating a culture of creativity. Microsoft employees are more innovative than those at Apple.

“The study data tell us that in terms of adventurousness, Microsoft employees tend to be neck-and-neck with Apple’s, and much more adventurous than Google, Facebook, or IBM employees,” Samar Birwadker, Founder and CEO of Good&CO, was quoted as saying to fastcompany.com on Friday.

Satya Nadella

Satya Nadella

As a result of being among the first social media platforms on the Internet, Facebook may be considered among the most innovative companies in the world. However, its early successes have resulted in a more conservative effort to sustain them.

“They have (Facebook) always had that reputation [of being innovative], and I think that now becomes a subconscious thing, that Facebook is innovative, but the current place they are in as a business doesn’t require them to personally be innovative,” Birwadker said.

“They (Facebook) invented social networks, and there’s always been this layer of innovation,” Birwadker explained adding, “but with more pressure on revenue, and especially on mobile and advertisements, I think we are seeing a lot less risk taking and adventurousness by their employees.”

On the other hand, Microsoft is often perceived as less innovative, because the more established tech giant has lagged behind the growth of its competitors.

Microsoft has always made a lot of money doing things the right, traditional, organised way, the study said.

“But with the success of social platforms and companies like Google Microsoft realised that they need to focus on consumer first, whereas they have always been B2B,” Birwadker stated, pointing out that with the arrival of Microsoft’s latest CEO, Satya Nadella in 2014, this wave of innovative energy started.

Samar Birwadker

Samar Birwadker

Although the giants of the technology industry have a lock on employer branding by their quirky hiring practices, free food, and other perks that make work “fun”, the analysis of the personalities of their staffs presents a different picture.

Companies like IBM, Facebook and Google aren’t necessarily providing the working atmosphere that is reflected in their recruiting materials, the study showed.

“You can’t have 10 people in a boardroom deciding what the culture of the company is. It is defined by the people who already work there,” Birwadker noted, revealing that employees who discover that their company culture is different than advertised are more likely to leave.

In the study, published by Good&Co, the team analysed the psychometric data gained from anonymous personality quizzes completed by 4,364 tech employees of what they believe are perceived as the five most innovative companies in Silicon Valley: Apple, Google, Facebook, Microsoft, and IBM.

In total, the two-year-long study also analysed 10 million responses from 2,50,000 users. Questions ranged from thoughts and feelings about networking to how they handle problems at work.

Read More

Wipro chair Premji and HCL co-founder Nadar in the world’s top 20 tech billionaires list

Aug 11, 2016 0
Wipro Chairman Azim Premji

Wipro Chairman Azim Premji

Technology tycoons – Wipro Chairman Azim Premji and HCL co-founder Shiv Nadar – ranked in the top 20 in the Forbes list of 100 richest tech billionaires. (Photos courtesy: Forbes)

According to the “100 Richest Tech Billionaires In The World 2016” list, Premji ranked 13th with a net worth of $16 billion while Nadar was at the 17th spot with $11.6 billion of net worth.

Premji and Nadar are placed ahead of Google chief Eric Schmidt and Uber CEO Travis Kalanick.

India has more tech billionaires than Brazil, Russia, Singapore and the UK. The Indian number equals tech billionaires in Israel, Taiwan and Australia.

Thirtythree are from Asia, with China on top with 19 members. The US topped the global list with 51 members, followed by China.

According to the list, 51 American tech founders and investors account for nearly two-thirds of the group’s total wealth.

The titans have, approximately, worth a combined $892 billion, 6 percent more than a year ago. The minimum net worth is now $2.2 billion, up from $2 billion a year ago, Forbes said.

With a $78 billion estimated fortune, Microsoft founder Bill Gates is again the richest billionaire in tech, followed by Amazon founder and CEO Jeff Bezos ($66.2 billion). Facebook founder and CEO Mark Zuckerberg is ranked third.

Compared to last year, 53 of the top 100 became richer while 27 got poorer.

Shiv Nadar

Shiv Nadar

There were 12 newcomers. The top five billionaires collectively added $36.9 billion to their fortunes over the past year, accounting for two-thirds of all gains.

Two Indian-American technology tycoons – Symphony Technology Group CEO Romesh Wadhwani and founders of IT consulting and outsourcing company Syntel Bharat Desai and his wife Neerja Sethi – secured their spot in the list. (IANS)

Read More

Prosecutors demand prison for 83-year-old dad of Indian-American Congressman

Aug 11, 2016 0

New York– Federal prosecutors are demanding a prison sentence for 83-year-old father of the embattled Indian American Congressman, Amerish Ami Bera, in an election funding fraud case, even though other officials have recommended only probation when the court decides the penalty next Thursday.

Assistant US Attorney Philip Ferrari wrote to the Sacramento federal court in California that because of “the serious nature” of his offence,” Babulal Bera did not deserve leniency, the Sacremento Bee newspaper reported.

Ami Bera-sizedBabulal Bera admitted in May before Judge Troy L. Nunley that he was guilty of election funding fraud.

The admission – or guilty plea – avoided a lengthy trial while his son, Ami Bera, the only Indian American in US Congress, faces a tough battle to retain his seat in the House of Representatives.

Ferrari wrote that the probation officer had said that sentencing guidelines called for a prison term of between three years, 10 months and four years, nine months but recommended that he serve no time in prison and pay a fine of only $30,200. The maximum sentence for the two offences that Babulal Bera admitted to would be five years for each of them.

Both the recommendations of the probation officer were challenged by Ferrrari, who said the prosecution would agree to a prison term less than the recommended guidelines but would not spare him incarceration, the newspaper said.

When Babulal Bera pleaded guilty in May, prosecutors had said that they would request only two-and-a-half years or less in prison.

The Califnornia Democrat Congressman is running against the influential local Republican Sheriff Scott Jones. In the 2014 election he narrowly defeated his then Republican rival, Doug Ose, by just 1,455 votes, a margin of less than one percent.

Babulal Bera has admitted that that he funnelled $268,726 in illegal contributions to his son’s election campaigns in 2009 and 2011. To circumvent the legal contribution limits, he had 90 people send in the money in smaller amounts in their names and then reimbursed them for what they gave.

The other participants in the fraud have not been charged or identified by the prosecutors.

Prosecutors have cleared Ami Bera of any involvement in the fraud, which he said was carried out by his father without his knowledge. The Congressaman told the Sacramento Bee, “I wish we knew what he was doing. I wish somebody had told me, because we would have put a stop to it.”

Ami Bera’s election adversary, Jones told newspaper that he found it difficult to require an 83-year-old man go to prison but doubted he acted alone.

Jones is himself facing allegations of making unwanted sexual advances towards a subordinate, the Sacramento Bee reported. The allegation surfaced in a case filed by four women employees against his department asserting that they had faced retaliation, the newspaper said.

Jones has denied the accusations. (IANS)

Read More

People on the Move: New bank chief, Rajamani as Research Lab MD at Microsoft, three advisors at WHA

Aug 11, 2016 0

United Bank gets new chief

Kolkata–Pawan Kumar Bajaj has taken over as Managing Director and Chief Executive Officer of the state-run United Bank of India, the bank said in a release on Wednesday.

Bajaj who has three decade of experience in the industry, took charge on Tuesday.

Prior to his new appointment, Bajaj was the Executive Director of Indian Overseas Bank.

Microsoft names Rajamani as India Research Lab MD

Bengaluru– Microsoft on Thursday announced the appointment of Sriram Rajamani as the new Managing Director of its India Research Lab, effective from August 1.

Rajamani will spearhead Microsoft India’s continued focus on world-class research, innovation and collaboration with the scientific community, the company said in a statement.

“I look forward to leading and expanding Microsoft’s commitment to world-class research and innovation in India and deepening our partnerships with our academic partners,” Rajamani said.

He replaces Chandu Thekkath, who previously worked as Managing Director of the lab for two years.

“Rajamani is a renowned computer scientist with a proven research and managerial track record spanning the last 17 years in Microsoft’s research organisation,” added Jeannette Wing, Corporate Vice President, Microsoft Research Labs.

A distinguished researcher, Rajamani has expertise in programming language design, security and privacy, cloud security and probabilistic programming.

Prior to joining the India lab, he headed the software productivity tools group within Microsoft’s Redmond research lab.

Wholistic Health Alliance gets three advisors on board

BOSTON–The Wholistic Health Alliance, a Boston-based non-profit organization that brings traditional and complementary healthcare workers together to create healthier communities, has brought two advisors on board: Puran Dang, Sushil Bhatia and Poonam Ahluwalia, according to Pratibha Shah, an Ayurvedic expert in the New England area and the founder of the organization.

Puran Dang

Puran Dang

Dang is an entrepreneur who founded his Career Advisory and Technology/Software Consulting Services Company in 1979: Minuteman Group LLC in Lexington, MA, and has helped hundreds of immigrants and professionals in planning their careers and advance in life.

Poonam Ahluwalia

Poonam Ahluwalia

Ahluwalia is a social entrepreneur and the founder and director of Boston-based Youth Entrepreneurship and Sustainability (YES). Bhatia is an award winning entrepreneur, innovator, educator, author and founder of Laughing Clubs.

WHA also celebrated its first anniversary recently.

Sushil Bhatia-sized

Sushil Bhatia

“We are very pleased to announce the first Anniversary of the Wholistic Health Alliance (WHA)!! Within a year of incorporation, WHA has made great strides in providing a strong platform which brings together, supports and nurtures holistic practitioners while highlighting them to the community,” said WHA founder Shah.

Read More

Intel pays $400 million to acquire start-up run by Indian-American entrepreneur

Aug 10, 2016 0

San Francisco– Announcing a big foray into the world of artificial intelligence (AI), the chip giant Intel has acquired San Diego, California-based deep learning start-up Nervana Systems run by an Indian-origin entrepreneur.

Coming ahead of the Intel Developer Forum next week, the acquisition gives Intel a definitive head start towards advanced data analytics, computer vision, natural language processing and machine learning.

Although the financial details were not disclosed, according to a Re/Code report, the software giant is paying more than $400 million to buy Nervana led by former Qualcomm researcher Naveen Rao.

“We will apply Nervana’s software expertise to further optimise the Intel Math Kernel Library and its integration into industry standard frameworks,” Diane Bryant, Executive Vice President of Data Center Group at Intel, said in a statement on Wednesday.

“Nervana’s Engine and silicon expertise will advance Intel’s AI portfolio and enhance the deep learning performance and TCO of our Intel Xeon and Intel Xeon Phi processors,” she explained.

Intel processors power nearly 97 per cent of servers deployed to support machine learning workloads today.

“Nervana’s IP and expertise in accelerating deep learning algorithms will expand Intel’s capabilities in the field of AI,” Bryant added.

The Intel Xeon processor E5 family is the most widely deployed processor for deep learning inference and the recently launched Intel Xeon Phi processor delivers the scalable performance needed for deep learning training.

“While less than 10 per cent of servers worldwide were deployed in support of machine learning last year, the capabilities and insights it enables makes machine learning the fastest growing form of AI,” the Intel executive said.

Intel’s Diane Bryant with Nervana’s co-founders Naveen Rao, Arjun Bansal, Amir Khosrowshaki and Intel vice president Jason Waxman. (Photo: Intel)

Intel’s Diane Bryant with Nervana’s co-founders Naveen Rao, Arjun Bansal, Amir Khosrowshaki and Intel vice president Jason Waxman. (Photo: Intel)

“We will continue to invest in leading edge technologies that complement and enhance Intel’s AI portfolio,” she added.

Nervana recently raised $25 million in venture funding and also has a contract to work with In-Q-tel, the US intelligence community’s venture arm.

According to Rao, the deal did not reflect any hurdles in getting more capital to stay independent.

“Raising money was not the problem. That was going to be relatively easy but by selling to Intel we have access to technology we’d never dream about,” Rao was quoted as saying.

Read More