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Leading wireless chipset manufacturer, Qualcomm Inc. (QCOM - Free Report) , is forging ahead with new deals to bolster its position in the Artificial Intelligence (AI) Research. To add to it, Qualcomm Technologies, Inc., a subsidiary of Qualcomm announced the acquisition of Scyfer B.V., a company affiliated with University of Amsterdam.

Scyfer focuses on cutting-edge machine learning techniques. It specializes in building AI solutions for companies worldwide and in a number of different industries, such as manufacturing, healthcare and finance.

Deal Prospects

The acquisition of Scyfer will aid Qualcomm to advance its AI research and development. Scyfer’s founder, Dr. Max Welling, will continue his role as a professor at the University and the rest of the Scyfer team will remain based in Amsterdam.

In 2015, Qualcomm Technologies and the University of Amsterdam had also established QUVA, a joint research lab, focused on advancing the cutting-edge machine learning techniques for mobile and computer vision. Qualcomm Technologies is excited to work with the University of Amsterdam and underscoring the importance of educating future generations in this important field.

Qualcomm’s Research on AI So Far

Qualcomm’s involvement with AI goes back to 2007, when it started exploring spiking neuron approaches to machine learning for computer vision and motion-control applications. Further, it expanded the scope of the research from biologically inspired approaches to artificial neural networks.

While most companies are focusing on the execution of AI workloads in the cloud, Qualcomm Technologies is focused on the implementation of AI on end devices – smartphones, cars, robotics, and similar products – to ensure that processing can be done with or without a network or Wi-Fi connection. The benefits of on-device AI include immediate response, enhanced reliability, increased privacy protection and efficient use of network bandwidth.

Qualcomm Technologies continues to push AI research forward and is bringing cutting-edge machine learning technologies to the forefront. In Jul 2017, the company made available the Qualcomm Snapdragon Neural Processing Engine software development kit for developers from multiple industries—mobile, automotive, healthcare, security and imaging—to acquire tools for delivering on-device neural network-driven user experiences.

With such booming prospects and strategic ideas, Qualcomm visualizes a world where AI would make devices, machines, automobiles and make things more intelligent, simplifying and enrich people’s daily lives.

Zacks Rank and Price Performance

Over the last three months, shares of Qualcomm have declined 5.01%, compared with the 0.66% loss of the industry  it belongs to. Qualcomm currently carries Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Related Events

In Jul 2017, Microsoft Corp. (MSFT - Free Report) announced the launch of Microsoft Research AI lab. It will focus on obstacles faced in the field of artificial intelligence (AI). Microsoft also stated that it will be working with Apple’s (AAPL - Free Report) new application called Seeing AI meant for assisting blind people.

The Walt Disney Co. (DIS - Free Report) , one of the biggest media conglomerates in the world, is looking to better understand its movie-going audiences so that its upcoming movie line-up can continue to be moneymakers and crowd pleasers. Disney hopes to do this through artificial intelligence (AI) and facial recognition technology, using deep learning techniques to track the facial expressions of an audience watching a movie in order to gauge any emotional reaction to it.

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