Tej Kohli, the London-based tech entrepreneur, has invested another $100m into Rewired, a robotics-focused venture studio with a humanitarian bent. Rewired is pioneering investment into artificial intelligence and machine learning ventures that will power the new economy, transform businesses, revolutionise global healthcare and even improve and extend human life.
Some of the companies already backed by Rewired include:
- Open Bionics: is developing the next generation of prosthetics, which for the first time enable patients to feel their surrounding environment through their prosthesis.
- Aromyx: is developing technologies that for the first time enable scientifically reproducible measurement and digitisation of taste and scent. Applications include the detection and capture of new data modalities for machine learning.
- Seldon: has developed the world’s first open source machine learning platform to enable data scientists, developers and large organisations to share data, thus harnessing the network effect for machine learning and enabling machines to learn faster, bigger and better.
Current thinking suggests that the global AI market will be worth anything from $3.9 trillion by 2022 (Gartner) to $15.7 trillion by 2030 (PWC) – but Tej Kohli believes that the true value could be much greater.
Kohli commented “Conventional wisdom is too cautious. I predict that the global AI sector will be worth $150 trillion by 2025. I am not saying that $150 trillion is based on a complete adoption of AI across everything. I believe $150 trillion is where you get to when keeping our basic human norms and values intact. It is using AI to make our lives more efficient without radically changing our lives to the full extent that AI is capable of. I estimate this value to be three to four times the Internet.
“And I believe that AI will enable humanity to take unprecedented leaps forward in solving the most pressing human problems across poverty, geopolitics and unequal access to healthcare, by virtue of its ability to make businesses and organisations far more efficient. There is scope for huge commercial gain coupled with unprecedented opportunities for human progress.”
