Panasonic to buy an American startup this month

Panasonic will purchase an American startup this month to get its hands on expertise in artificial intelligence, aiming to sell services for saving energy or predicting equipment breakdowns from operating data.

The Japanese electronics conglomerate is seen paying tens of millions of dollars for Arimo, based in California’s Silicon Valley region. Founded in 2013, the 16-employee startup includes alumni of Google and other tech titans, and it has leveraged these connections to hire top data scientists.

Arimo’s prowess in deep-learning analysis is well-established.The startup is also skilled in handling dynamic data, such as in the field of connected devices said to belong to the “internet of things.” Arimo’s AI can predict when devices in factories will break down by tracking changes in their activity,

Panasonic joins a wave of compatriots, such as Toyota Motor and robot manufacturer Fanuc, tapping young AI companies for talent to develop a new growth field.

Inputs from asia.nikkei.com

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