News That Matters

Tag: pouring

Investors are pouring money into cyber-security sector

Investors are pouring money into cyber-security sector

Finance
Data breaches such as Equifax's recent hacking scandal are a nightmare for hundreds of millions of consumers. They do, however, offer lucrative opportunities for niche investors and venture capitalists who are banking on the ability of new cybersecurity, artificial intelligence and data protection technologies to solve one of the world's largest evolving problems."Security is one of the best near- to mid-term market segments to be in," said venture capitalist Rick Grinnell, who began investing in early stage cybersecurity and artificial intelligence firms more than 15 years ago and now operates his own venture capital firm, Glasswing Ventures.Venture capital firms invested $ 3.1 billion in nearly 300 cybersecurity startups in 2016, according to research firm CB Insights. Top-funded, privat...
Backing Big Brother: Investors are pouring into Chinese facial recognition firms

Backing Big Brother: Investors are pouring into Chinese facial recognition firms

Finance
Buoyed by China's plans to build a ubiquitous CCTV surveillance network, Chinese and some foreign investors are pouring money into start-up technology firms that specialize in facial recognition software.At stake for firms such as SenseTime Group, Face++ and DeepGlint, is a multi-billion dollar global public and private market for facial recognition technology that can quickly identify individuals by measuring major elements of their faces, such as the distance between the eyes and the curve of the cheekbones.With the use of artificial intelligence (AI) the technology can recognise and track those wanted by the authorities by seeking a match from a database of photographs. In the commercial world it can be used for security at homes, workplaces and ATM machines, and as a part of payments s...