One of the leading AI companies in the world, DeepMind produced a study to predict kidney injuries 48 hours in advance. Along with this feat, the company has an array of achievements, from AlphaGo to partnering with Waymo to stimulate autonomous driving vehicles. Underlying all of these accomplishments, though, lies a gaping hole of debt. Recent reports of DeepMind’s financials reveals the viability of their business.
Owned by Google’s parent company Alphabet, DeepMind’s core mission is to build a general learning AI, which aims to replicate similar learning curves to humans. The costs to reach such an ambitious goal, however, run just as sky-high. According to Financial Times, “Deepmind saw its losses rise by 55 percent last year to £470.2m ($571m) and its debts rise to more than £1bn”. On the other hand, their change in revenue paled in scale. While their revenue certainly doubled to £102.8m, increased costs and debt have overwritten this feat. This has erupted a storm across the industry, raising questions about the profitability of their product.