AI Money and Claims

One report says, lots of money being thrown at AI!

AI-related companies raised $9.3B in 2018, a 72% increase compared to 2017.

PWC MoneyTree Report, Q4 2018

Another report says lots of European AI startups might not actually be focused on AI?

According to the survey from London venture capital firm MMC, 40 percent of European startups that are classified as AI companies don’t actually use artificial intelligence in a way that is “material” to their businesses. MMC studied some 2,830 AI startups in 13 EU countries to come to its conclusion, reviewing the “activities, focus, and funding” of each firm.

Forty percent of ‘AI startups’ in Europe don’t actually use AI, claims report

When a beverage maker’s stock soars after adding “blockchain” to its name on the NASDAQ, it’s not hard to see why companies are perfectly fine being thought of as AI startups despite evidence to the contrary. Caveat emptor.