The recently-launched Slack investment fund has started investing in a number of startups that are developing artificial intelligence (AI) applications in order to make work more efficient.
San Francisco-based Slack (formerly Tiny Speck) is leaving no stone unturned in its determination to enhance the User Experience provided by the team communication app of the same name which it developed. And that means using artificial intelligence. Seven months after Slack launched its venture-capital investment fund in conjunction with several VC firms, the Fund has already invested $2 million in eleven startups. The latest wave of investments brings to fourteen the total number of fledgling companies backed by the Slack Fund.
With a budget of $80 million, the Fund is investing mainly in the AI field. Several of the companies in which it has taken a stake are working on bots designed to automate tedious repetitive tasks.
One example is Butter.ai, which has developed a personal assistant that brings all of your company information within reach. Then there is Wade and Wendy, which has created a machine intelligence-based characters with the aim of making hiring more human, and Konsus, a startup which specialises in putting companies and freelance providers in touch with each other, both for company-internal day-to-day tasks and for more complex jobs.