McKinsey’s State Of Machine Learning And AI, 2017
thinkstockphoto Tech giants including Baidu and Google spent between $20B to $30B on AI in 2016, with 90% of this spent on R&D and deployment, and 10% on AI acquisitions. Artificial Intelligence (AI) investment has turned into a race for patents and intellectual property (IP) among the world’s leading tech companies. U.S.-based companies absorbed 66% of all AI investments in 2016. China was second with 17% and growing fast. By providing better search results, Netflix estimates that it is avoiding canceled subscriptions that would reduce its revenue by $1B annually. These and other findings are from the McKinsey Global Institute Study, and discussion paper, Artificial Intelligence, The Next Digital Frontier (80 pp., PDF, free, no opt-in) published last month. McKinsey Global Institute published an article summarizing the findings titled How…
Link to Full Article: McKinsey’s State Of Machine Learning And AI, 2017
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