Company - - Jan 24,2017
The Chan Zuckerberg Initiative founded by Facebook’s Chairman and his wife would be making its first acquisition by buying AI startup, Meta.
The Chan Zuckerberg Initiative is purchasing Meta, a startup which developed an AI which helps scientists read, understand and register millions of scientific papers.
The act of buying a Canadian artificial intelligence startup is part of a mission to stamp out disease.
The CZI, however, did not reveal the financial terms of the deal to take over Toronto-based Meta.
There are high hopes that this technology will help individuals from the scientific community to conveniently discover and share research. According to the Facebook post, "Meta will assist scientists to learn from others' discoveries in real time and will help in finding key papers which may have gone unnoticed.
Meta capabilities will be incorporated in a tool made available to scientists. Sam Molyneux, Meta co-founder and chief executive said in a statement that, the company is very excited about what is yet to come.
More than a year ago, Zuckerberg and Chan pledged to give away nearly all of their earnings during their lifetime and promised $3 billion to curing all disease dating back in September. The acquisition of Meta indeed coordinates with that mission.
CZI announced that Meta will eventually be free. The company had lifted $6 million in venture funding back in November 2015 and had acquired more than $7 million as a whole, according to Crunchbase.
Zuckerberg revealed last month that he developed an artificial intelligence-imbued software—called Jarvis. Facebook’s chief took on this personal project last year, offering about 100 hours to build a system inspired by “Iron Man” film’s character, Jarvis, as a virtual partner to help manage his household.
Jarvis is basically an application which Zuckerberg can access through his phone or computer to operate lights, music, temperature, appliances, security and more.