Topic: investor concerns automation

Microsoft-backed Builder.ai goes bankrupt despite 700-engineer AI team

A London-based artificial intelligence company valued at $1.5 billion has filed for bankruptcy after it was revealed that its much-touted ‘neural network’ was actually a workforce of more than 700 engineers based in India. Builder.ai, backed by a reported $455 million investment from Microsoft, had claimed that its AI app-building service, ‘Natasha’, could design and code applications autonomously and at unprecedented speed. However, investigations showed that most of the work was carried out by...