Global Rush to Fund A.I.

Companies Manipulating A.I. Systems for Competitive Advantage
March 10, 2020
Multitask Learning
March 10, 2020

Global Rush to Fund A.I.

There is a well-reported shortage of A.I. talent, and every sector is hoping to integrate A.I. into their core business functions.

There is a well-reported shortage of A.I. talent, and every sector is hoping to integrate A.I. into their core business functions.

As a result, there is a global race to fund A.I. research and to acquire startups. In 2019, investors put $136.5 billion into 10,777 deals worldwide. Seed or pre-seed rounds made up half of those deals, while 21% were Series A and 12% were Series B. U.S. tech giants like Apple, Google and Microsoft are acquiring A.I. companies at a rapid clip, and non-tech companies are gobbling A.I. startups too: McDonald’s acquired personalization platform Dynamic Yield, while Nike acquired inventory management company Celect and guided shopping experience platform Invertex.

The U.S. Department of Energy is reportedly planning to ask Congress for $3 – $4 billion over the next 10 years to build next-generation exascale computers that use A.I. to speed scientific discoveries.

In July of 2019, Japanese conglomerate Softbank launched Vision Fund 2, a $108 billion fund designated specifically for A.I. startups.