Tej Kohli invests £79m into Artificial Intelligence

Tuesday 11th June 2019 15:17 EDT
 

London based billionaire Tej Kohli has invested another £79million into Artificial Intelligence (AI) and machine learning ventures and has said that he would be investing the sum into Rewired, a venture capital studio. Founded in 2017, Rewired targets AI start-ups and robotic firms. The latest investment in the space declared during London Tech Week.

Bristol-based Open Bionics, Californian firm, Aromyx are among the list of companies backed by Rewired.

The company was focusing on the firms that would power the new economy, transform businesses, revolutionise global healthcare and even improve and extend human life.

According to the experts, the global market for AI will be worth anywhere between $3.9 trillion by 2022 to as much as $15.7 trillion by 2030. According to the McKinsey Global Institute, AI is expected to provide a 22% boost to the British economy by 2029.


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