Exclusive License for Next-Generation Neural Network Technology; Agreement with Toulouse Tech Transfer and the CERCO research center to license the exclusive rights to the JAST learning rules
BrainChip Holdings is a leading developer of software and hardware accelerated solutions for Advanced Artificial Intelligence and Machine Learning applications. The Company has developed a revolutionary new Spiking Neuron Adaptive Processor (SNAP) technology that can learn autonomously, evolve and associate information just like the human brain. The technology, which is proprietary, is fast, completely digital, and consumes very low power. Target markets include Civil and Commercial Surveillance, as well as Machine Learning.
BrainChip announced that it has signed an agreement with French-based technology transfer company Toulouse Tech Transfer, to license the exclusive rights to the JAST learning rules and algorithms developed by CERCO (Brain and Cognition Research Center), a preeminent public research lab based in Toulouse, France. The groundbreaking JAST technology significantly enhances the Company’s existing neural network design and will be implemented on the Company’s proprietary Spiking Neural Adaptive Processor (SNAP).
The addition of the JAST technology to the SNAP processor enables BrainChip to offer a compact and easy to use commercial alternative to GPU processors for visual analytics. The license provides the Company significant improvements over existing deep learning designs. These benefits will allow BrainChip customers to reduce development cycles and significantly improve their time-to-market with new products.
BrainChip President and CEO Louis DiNardo commented, “BrainChip has developed a suite of software and hardware products to support a wide range of applications and customer requirements. The JAST technology adds to our offering of SNvision, a software solution that runs on any Windows platform, and our hardware solution, SNAPvision, which will be available in the third quarter of 2017. SNAPvision will implement existing learning rules and algorithms on a Field Programmable Gate Array (FPGA). The SNAPvision product can process a significantly larger number of video streams than the existing SNvision software only solution and will provide end-users with a wide range of analytics. The ability to learn on the device, and at near instant speeds, sets our technology apart from other solutions that require long training cycles. The JAST learning rules will provide an exciting enhancement to our existing product offerings.”
Toulouse Tech Transfer president and CEO Pierre Dufresne added, “The JAST technology, a new unsupervised learning algorithm developed by Simon Thorpe and his team at CERCO, is a complementary approach to the traditional deep learning techniques. We believe that our alliance with BrainChip and its French subsidiary Spikenet Technology will enable a wide range of breakthrough applications. This illustrates the dynamism of our region in the AI field.”
The terms of the exclusive license have not been disclosed, but costs related to the transaction in 2017 are expected to be immaterial relative to the Company’s total expenses.