Artificial Intelligence (A.I) is now a huge part of our everyday lives, with the likes of home pods and facial recognition aiding our day-to-day. Most smart phones now have face ID, and we can also log into our online banking via our face as a password.
Many of us also have smart home speakers such as Alexa, which can automatically answer questions, such as: “what’s the weather like today?” and “can you play my favourite playlist on Spotify?” – the possibilities are truly becoming endless with the help of AI.
But how is AI used within businesses and which companies are leading the way?
RS Components has taken a look at the global landscape of AI and mapped where all the AI startups are, as well as looked at the countries getting the most funding for their AI companies.
From the charts above we can see that the United States is leading the way when it comes to funding with the total funding for all startups hitting a huge $224.2 million. When it comes to the countries with the most AI startups, the United States also comes top with 178 AI startups last year, Israel comes second with 46 AI startups and the United Kingdom comes third with 41 AI startups.
In 2019, $10.7B was invested in AI startups, many of which managed to raise money – Vacasa being one of them. Vacasa raised $319M from a Series C round in October and they are creating and using AI-driven tools to improve their customers’ experiences renting vacation homes around the world.
But which AI companies are actually leading the way? Despite being less than a year old, the top-funded AI startups saw funding investments of over $30 million, so which companies generated the most interest?
ArsenalBio generated over $85M, while Vianai generated $50M. Vianai describe themselves as the ‘systems thinking for the design of thinking systems’ – and despite their forward thinking and already-successful business, they were only founded in 2019.
AI is changing the way humans go about business, socialising, developing technology and many other things – there is no limit to what AI can do and the landscape at which it is developing doesn’t seem to be slowing down.