In a bid to flesh out its expertise in artificial intelligence, Panasonic is set to buy American start-up Arimo. The Japanese electronics conglomerate will pay tens of millions of dollars for the company founded in 2013. The 16-employee start-up includes alumni of Google and other tech titans, and it has leveraged these connections to hire top data scientists.
Arimo’s expertise is in deep-learning analysis. Its technology is used by Nasdaq to perform market analysis and by major American department stores to predict customers’ purchasing trends.