Dell Technologies Capital, Dell’s Palo Alto, Calif.-based venture arm, for example, has spent more than $600 million on around 100 investments in the past six years. “Our goal is to get a window on innovation,” Scott Darling, president of the firm, said. “We need to plug into the external entrepreneurial ecosystem. This is so important, since the pace of technology is stunning.”
Microsoft’s own venture fund, M12, has also spent hundreds of millions on startups developing enterprise software, AI, cybersecurity and cloud computing, in an effort to expand its reach beyond its own proprietary offerings and spur innovation.
“Innovation isn’t limited to our corporate boundaries. It is an exciting time to see how AI is transforming the workplace. Already we see it becoming more distributed, more flexible and diverse,” Nagraj Kashyap, corporate vice president and global head of M12, told CNBC. “AI will dramatically change the workplace over the next five to 10 years. It is those companies keeping on top of the pace of innovation that will thrive.”
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