Betting big on artificial intelligence

By Jacques Bughin ET AL The buzz over artificial intelligence (AI) has grown loud enough to encourage venture capital and private equity firms to step up their investment in AI. Other external investors, such as angel funds and seed incubators, also are active. We estimate total 2016 external investment was $8-12 billion. Machine learning attracted almost 60% of that investment, most likely because it is an enabler for so many other technologies and applications, such as robotics and speech recognition. In addition, investors are drawn to machine learning because, as has long been the case, it is quicker and easier to instal new code than to rebuild a robot or other machine that runs the software. Corporate M&A in this area is also growing fast, with a compound annual growth…

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