Published on : Jul 21, 2017
Albany, New York, July 21, 2017: Investments in AI is surging worldwide. Beyond the hype and the heightened media attention, the numerous startups and the Internet giants racing to acquire them, there is a significant increase in investment and adoption by enterprises. Considering this fact, Market Research Hub (MRH) has broadcasted a new study to its massive collection of research studies, with the title of “The Fields and Funding of AI Startups Worldwide”. As the name suggests, the study delivers precise information on the current market scenario of AI startups running worldwide. According to the study findings, as AI technologies are developed and become popularized, business applications are on the rise.
The study starts by defining the scope of technologies for AI. Artificial intelligence companies are sprouting up all over, though AI itself is far from new. The research finds that the market for artificial intelligence (AI) technologies is flourishing. Artificial Intelligence is the broader concept of machines being able to carry out tasks in a way that it is considered “smart”. Nowadays, Tech giants Apple, Intel, Twitter and Microsoft have all spent large sums to bring artificial intelligence startups. From financial services to healthcare to transport, incumbent companies in every industry are seeing that AI will reshape their industries.
As per the findings, AI is considered as the engine of growth in the smart machine age. During this huge shift from information computerization to AI (Artificial Intelligence), many AI-based startups were founded, and are fighting for market share in the booming market. At present, AI Startups are building capabilities and solutions to stand out. A total of 34 artificial intelligence startups were acquired in the first quarter of 2017.
The objective of this report is to understand the impact of the AI trend and offer insights for future investment decisions. Getting huge volumes of good quality data is one of the biggest challenges for AI startups today, as the value of input data has a direct impact on the results. Machine Learning is a current application of AI based around the idea. Apart from machine learning some of the other important center areas where AI advances are active comprise speech, computer vision, natural language processing (NLP) and knowledge graphs. Moreover, the study analyzes that investments have poured into the supply-side, driving the upgrading and transformation of the more reserved demand-side. The major key to AI Success is to ensure perfect convergence of rising AI technologies and industrial knowledge.
To conclude with, analysts have studied the scope of technologies, fields of application and equity-based fundraising of AI startups around the world.
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