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Laxman Pai, Opalesque Asia: The United States replaced China as the top global artificial intelligence (AI) venture capital investment hub, said a study.
United States commanded the most AI investment values in 2018 globally at 52.3%, according to ABI Research.
Based on investment figures in 2019, the gulf between the United States and China will continue to get wider, with the U.S. share expected to reach 70%.
After losing its first spot to China in 2017, the United States stomped back in 2018 with a total of $9.7 billion in AI investment, an impressive 120% year-on-year increase.
The investments by the likes of Cruise Automation, Dataminr, Zoox, and Zymergen propelled this growth, which could further increase to $14 billion in 2019.
"The United States is reaping the rewards from its diversified AI investment strategy. Top AI startups in the United States come from various sectors, including self-driving cars, industrial manufacturing, robotics process automation, data analytics, and cybersecurity. All these startups research on and invest in cutting edge deep learning technologies in their solutions, democratizing AI for enterprises and end consumers," said Lian Jye Su, Principal Analyst at ABI Research.
On the other hand, AI investment in China was a slightly different scenario. Overall, the country still experienced a healthy year-on-year growth rate of 54%, with a total of US$7.4 billion.
Since 2016, AI has been of special interest in China, p...................... To view our full article Click here
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