Joe Biden's campaign proposed $300b worth of "innovation funding" over four years, which would go toward AI, quantum computing, and other advanced projects. The Biden/Harris administration is projected to invest additional money into AI, partially because its overall R&D spending is expected to be higher than previous administrations.

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• In August, the Trump administration announced a $1b investment in AI and quantum computing hubs. $140m was earmarked for seven AI initiatives focused on areas like forecasting prediction, precision agriculture, workforce development, and AI in the classroom.
• The Trump administration also released an executive order last year outlining policies and plans to maintain American leadership in AI.
• The WSJ now reports that AI is expected to remain as one of the key priorities for the U.S. under the Biden administration, though "spending and regulatory approaches are expected to differ" from Trump's.
• The publication reported that the $300b in proposed innovation funding would be in addition to federal R&D spending. It would "spur advances in technologies such as AI," partially to help the U.S. stay competitive with China in advancing tech.
• Information Technology & Innovation Foundation president Robert D. Atkinson said a Biden administration could issue new requirements when it comes to AI, such as requiring AI algorithms to be transparent and explainable in business. The Trump administration has taken a less regulatory approach. “If you’re in the business of developing, adopting, or using AI, that could be somewhat problematic,” Atkinson said.

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• Facebook's chief AI scientist Yann LeCun was among the computer scientists to sign a letter endorsing Biden, citing in part Trump's immigration rules, which they said pose a threat to U.S. computer research.
• China outspends the U.S. in AI, except in defense. Venture Beat reported that the chances are low for the U.S. to maintain its leadership position given the number of investments made by other countries.
• Last month, former Google CEO Eric Schmidt, who chairs the National Security Commission on AI, said advancing AI has been a uniquely bipartisan issue for U.S. lawmakers as they seek to counter China. The U.S. needs more aggressive actions to develop and incorporate AI, he said.

Self-driving delivery company Nuro has raised $500m, increasing its valuation to $5b. The robotics and autonomous package delivery startup was founded by two former Google engineers, Dave Ferguson and Jiajun Zhu.

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• Bay Area-based Nuro, founded in 2016, has hired robotics, AI, and computer vision experts to help develop and launch its fleet of electric self-driving vehicles, which transport goods rather than people.
• It has done pilots of Toyota Priuses equipped with its autonomous driving system, as well as delivery service tests in California, Arizona, and Texas using its R2 delivery bot. The R2, which travels at 25 mph, has no driver's seat and is about half the size of a normal car.
• In February, the company received approval from the U.S. government to drive on public roads.
• To date, Nuro has raised more than $1b in funding from Softbank, Greylock, and other investors. The latest Series C round was led by funds and accounts advised by T. Rowe Price Associates. New investors include Fidelity Management & Research Company and Baillie Gifford, as well as SoftBank Vision Fund 1 and other existing investors.
• Nuro says it will use the fresh funding to expand its workforce, now numbering 650 employees, and scale-up manufacturing.

New funding for AI/ML startups

• Minieye (China), sensing systems for autonomous driving: $40.3m (RMB270m) C from Harvest Fund, Oriental Fortune Capital, Vision+ Capital, NavInfo.
• MegaRobo (Beijing, China), robotics/IoT company: $30m B led by Sinovation Ventures, participation from Kai-Fu Lee.
• Capacity (St. Louis, MO), AI-based helpdesk: $11m C from Rice Park Capital Management...

Increased demand for AI, 5G, and other types of chips and applications will see China's semiconductor industry become more self-reliant, says Jamie Li, a partner at KPMG in Shanghai. Speaking at last week's third China International Import Exposition, Li predicted that new opportunities stemming from AI and 5G applications could see more technologies from China-based universities "come to fruition."

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• China will likely turn to more domestic substitutes to replace its reliance on imported technologies as the demand for chips for AI and autonomous driving increases, according to KPMG, one of the "Big Four" accounting organizations.
• The predictions come about a year after the U.S. blacklisted top Chinese AI companies such as SenseTime, which develops facial recognition technology. Despite the ban, Sensetime has seen its stock values and customer base rise and is now considering an IPO. Some experts have said the blacklist will force China to turn more to domestic innovation.
• In August, China tightened its export control rules on AI and other technologies, the first time since 2008. This has made AI interfaces such as text and speech recognition, analyzing data, and making personalized recommendations into matters of national security – government approval is needed for transferring and exporting the technology.
• Li predicts China's semiconductor industry will continue with “sound and continuous” growth and gain partial self-reliance over time. A Deloitte report placed China's self-sufficiency rate at less than 20%.
• KPMG says China's semiconductor industry has grown dramatically this year, thanks to government and private sector investments. More than 70% of KPMG's list of nascent private semiconductor startups with growth potential are based in the Yangtze River Delta region.

Sony announced Airpeak, a drone-related project in the field of AI robotics. The company has revealed little about the upcoming project so far, but did say its goal is to “support the creativity of video creators to the fullest extent possible."

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• Some have speculated that Airpeak is Sony's attempt to compete with DJI, Parrot, and others in the consumer drone market, especially using its experience in the camera market.
• Sony says Airpeak reflects how it wants to contribute to "imaging and sensing technology as well as 3R technologies" for drones. It describes 3R tech as those that are "reality, real-time and remote."
• More details will be revealed next spring when it plans to launch Airpeak, according to Sony. The project's website says that it hopes to "transform the realm of the sky into an endless creative space."
• In January 2019, DJI - considered the world leader in consumer drones - announced a Microsoft partnership to combine AI and drones for object and visual recognition. They launched the AI x Drones Joint University Competition, which pitted students from Hong Kong universities to create AI models that can help drones recognize various fruit types.

Softbank, which invests hundreds of millions into AI companies, reported revenue of $25b for the six month period ended Sept. 30, 2020. The company’s profit stood at $18b, up 253% YoY for the same period, and its quarterly profit stood at $7.6b. 

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• Softbank founder Masayoshi Son announced Vision Fund II in July 2019. The fund is focused specifically on AI and is meant to "facilitate the continued acceleration of the AI revolution through investment in market-leading, tech-enabled growth companies."
• Softbank’s Vision Fund II’s value stood at $7.6b, up from its cost of $2.6b. Vision Fund I is now worth $76.4b, which is $1.4b more than the $75b paid for its 83 investments.
• The company’s investment in listed stocks accounted for a $1.3b loss. 
• Following the pressure to improve its governance, the company removed Vision CEO Rajeev Mishra and three other directors from its board. Yasir al-Rumayyan, the representative of Saudi Arabia’s Public Investment Fund, which is the largest contributor for Softbank’s Vision Fund, has also been removed from its board.  

• IBM's free Data & AI digital conference which takes place tomorrow, Nov. 10, includes $300 in credits for Coursera classes.
• Two students and an assistant professor at the University of Copenhagen’s Department of Computer Science developed a software program, Carbontracker, that can predict how much CO2 emissions come from training deep learning models. 
• The Commonwealth Scientific and Industrial Research Organisation partnered with Microsoft and others to develop AI/ML solutions that can curb Australia's plastics waste.
• One first-time founder just raised $1,400,000 after finding an early market signal from this website.*
• Schlumberger signed a machine learning deal with two Abu Dhabi AI firms to develop AI/ML/data solutions for the oil and gas industry.
• In a piece for Harvard Business Review, bnh.ai managing partner Andrew Burt writes about how many AI ethical frameworks can't be implemented and upheld in practice.
• Hiring trend: Vettery reports 53% of employers are open to remote work while only 12% market this benefit, download remote hiring guide for insights.*

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Tweet of the Day: Software entrepreneur and Massive Technologies co-founder Fayez Salka shared AI's attempt at playing "Hungarian Rhapsody."