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Japan to expand innovation fund to $4bn in AI push

Reorganization slated for this fall with extended life

The INCJ will seek investment opportunities in big data and artificial intelligence.

TOKYO -- The government will provide 160 billion yen ($1.44 billion) to a public-private investment fund that has often drawn criticism in its current form as aiding struggling corporations rather than supporting new industries.

The Innovation Network Corp. of Japan is scheduled to undergo a reorganization this autumn and is expected to shift its investment focus to growth fields like artificial intelligence and big data.

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