Artificial intelligence is the most transformative and in-trend technology of the time. Whether it be determining visual perception, speech recognition, decision-making, self-driving motors or automation robots replacing developers; artificial intelligence has vast applications in every field. Investors are targeting artificial intelligence start-ups these days finding it worth their funding. According to Tractica and Statista, investments in AI may peak US $36.8 billion by 2025.
People today are getting used with the ease of technology and hence more and more population of the world is getting online. The addition of the technological tools is creating an increase in data assets which is a raw material of Artificial intelligence.
The computational capacity today is increased at a par magnitude which makes the arrival of new AI technology easy and affordable. The innovation in technology is pacing day-by-day and so we can see AI as the futuristic technology that would be in implementation in every field very soon. Already, there are a large number of softwares and applications that use AI.
Hence, by every means investment in AI is a potential deal. Isn’t it?
Major Investments in AI
Alphabet has acquired almost 11 companies that work on the Artificial Intelligence development. Google acquired DeepMind two years ago, which is helping the tech-giant to lower the power and cooling costs. The recent acquisition of Kaggle is also one of their major investments in AI. The company is now increasing their investment in AI; whose $294 billion market is dominated by Microsoft and Amazon.
Intel in 2016, acquired Itseez Nervana systems and Movidus; the two AI based start-ups. Intel is planning to develop semiconductors for AI apps and Nvidia which has expertise in GPU chip development is their tough competitor. Acquiring AI giants will help the company to beat the competition.
With the introduction of the chatbot Zo, Cortana devices SDK and Skills Kit, Microsoft is now expanding its AI-based tools; racing to dominate the AI market. In the last December, Microsoft Ventures announced an AI fund with the intention of investing in AI start-ups that are focused on the productive growth and positive impact on the society. The tech-giant recently acquired Maluuba and is aiming to expand the company in two years.
IBM has invested millions of dollars in developing the Watson platform. Watson is a tool for analysing and interpreting the data like unstructured text, images and videos. Also, IBM and Salesforce announced a strategic partnership integrating their independent AI platforms (Watson and Einstein).
Amazon is using many custom intelligent systems for providing sophisticated service to their customers. Alexa-the voice assistant, Amazon Go, Amazon Lex, Amazon Polly and Amazon Rekognition are their AI tools.
AI start-ups globally funded by Russian investors
Also, recent $100 million fund by the Russian investors is targeting the AI start-ups. GVA Capital, the investment vehicle of Russian businessman Magomed Musaev has invested $16.7 million in Astro Digital. Astro Digital is an AI start-up which develops open API’s for capturing satellite images. Barnuba received $5 million last month to develop tools for AR-based mobile applications. Impulse VC led $10 million funding to LoopMe, a UK Adtech start-up which uses AI for mobile video advertising.