Home Daily News Facebook buys AI startup in Allen & Overy’s… Legal Technology By Jason Tashea Posted July 5, 2018, 10:28 am CDT Asif Islam / Shutterstock.com Facebook will acquire Bloomsbury AI, a startup in Allen & Overy’s Fuse incubator. TechCrunch reported Monday that Facebook would pay between $23 million and $30 million to acquire Bloomsbury AI, with the purpose of using it to combat fake news and other content issues. According to TechCrunch, Bloomsbury AI has developed a natural language processing software that helps computers read documents and answer questions about them. Facebook confirmed the deal on Tuesday. “The Bloomsbury team has built a leading expertise in machine reading and understanding unstructured documents in natural language in order to answer any question,” stated Facebook Academics on their Facebook page. “Their expertise will strengthen Facebook’s efforts in natural language processing research, and help us further understand natural language and its applications.” “We are incredibly proud that one of our cohort has attracted the attention of Facebook, a company that will no doubt help it reach its full potential,” Jonathan Brayne, Allen & Overy partner and Fuse chairman, said in a statement to Legal Business. “We work very closely with the… Read full this story
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