|
Laxman Pai, Opalesque Asia: Since 2017, $188bn in venture capital has been invested in North American companies that apply artificial intelligence (AI) and machine learning (ML), said a study.
According to Preqin, last year alone saw $81bn in AI/ML investment, making up one-fifth of all VC deals made into US companies amid a record year for the industry.
"This growth has been fueled by many factors, primarily including the combined computing power and storage offered by cloud-computing platforms such as Amazon Web Services and Microsoft's Azure, which have moved technology innovation away from traditional and expensive centralized locations," said the study.
Indeed, big-name deals grab the headlines, but much more is happening in the background.
Innovation, scalability, and diversity have been the key drivers for venture capital investment in artificial intelligence, and there has consequently been a large volume of capital put into companies applying it across industries. The information technology industry is home to most of the AI/ML investments today.
From under this umbrella have come companies including Databricks, Stripe, and Aurora Operations, which have attracted a combined $8.9bn in venture equity (VE) over the past five years, but use AI/ML technologies in very different ways. Since its founding in 2013, Databricks has attracted $3.5bn across nine funding rounds.
Healthcare and medical research were a natural fit for AI/ML. With this te...................... To view our full article Click here
|
RSS
