Spatialedge, a company that offers AI solutions, has bought Cape AI, a South African tech startup whose goal is to help businesses grow by giving them the tools they need to make intelligent decisions using AI technology.
The company works with big data and applied machine learning. It is based in Stellenbosch, which is in the Cape Winelands. It lets companies build and put into action machine learning solutions quickly. With the help of engineers, data science experts, and proprietary and open-source software, enterprise data science teams can deliver better business value more quickly.
The news that Cape AI was bought comes as the world is in the middle of the Fourth Industrial Revolution. Companies spend billions of dollars on advanced analytics and artificial intelligence (AI). As a result of successful investments in AI, businesses worldwide are expecting and seeing significant increases in business returns.
“Both Spatialedge and Cape AI should be proud of this,” says Retief Gerber, co-founder, and CEO of Spatialedge.
In only four years, the number of engineers employed by Spatialedge has increased from five to over seventy, despite the rising demand on the market for AI solutions that work. Finding ways to scale up our operations more quickly to keep up with the ever-increasing demand has been one of our primary focuses.
As part of our plan for future growth, we plan to merge and buy other companies. We already have a few more deals in the works. We’ve been able to grow since we bought Cape AI, and that’s just the beginning.”
Cape AI has started, grown, and sold several AI companies and is now a significant player in the AI solutions market.”Our goal is to build the best business specializing in data and AI in Africa, Europe, and beyond. When a company wants to invest in AI, it can choose a service that doesn’t specialize or one of the many small players. “In the end, this often leads to solutions that don’t work well and aren’t very interesting,” says Gerber.
We can only change organizations and bring them into the Fourth Industrial Revolution by putting together a high-performing organization specializing in the AI lifecycle. This includes solid data pipelines and quickly rolling out new use cases.
Cape AI will be integrated into the Spatialedge business as part of the acquisition.Corporate players in South Africa are happy to see that key players in the space are coming together, and they hope that the knowledge from these players will help their businesses grow.
With Spatialedge’s new purchase of Cape AI, the head of data and analytics at Pepkor and a client of Spatialedge, Venette van Zyl, said she was excited to look into new growth areas in machine learning and AI.
This landscape is changing quickly, and there is an apparent increase in the rate at which analytics products need to be developed. At the same time, businesses are becoming more aware of opportunities to drive them into the future.