(NEW YORK)–Investments in Artificial intelligence have been drawing major attention this year with many start-ups and tech giants betting that this technology is set to break into the market bigtime in the next couple of years.
So far in early 2017, a total of 34 artificial intelligence startups were acquired , which is more than double the amount of activity in the first half of 2016, according to the research firm CB Insights.
Tech giants seeking to reinforce their leads in artificial intelligence or make up for lost ground have been the most aggressive buyers. Google has acquired 11 AI startups since 2012, the most of any firm, followed by Apple, Facebook and Intel, respectively, according to CB Insights.
Google Focus on AI Investments
Google just recently established a new organization to invest in artificial intelligence startups. The new effort shows Google is taking this emerging sector seriously, and plans to leverage its venture capital wing and apply it to AI investments.
The new organization will be separate from Alphabet, Google’s parent company, with their funding activity within Google Ventures, and CapitalG.
Google Implementing AI
Google already uses AI in its search engine, Gmail, Google Maps, Google Photos, and Google Translate, among other things. Their move to focus specifically on new AI startups and ventures shows that we could see some big news out of this sector in the coming years.
Tom Bustamante, the President of AI VentureTech, a financial advisory firm based in New York City focused on advise startups in the AI field stated, “The rapid growth of investments into the AI sector show that the areas of data analytics, customer conversion, and machine learning is going to be a real game changer in the coming years. Companies are rapidly making changes to adapt to what may be coming in regards to AI, and along with automation we could see a major disruption to the employment market, especially within the technology industry.”
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About AI VentureTech
AI VentureTech is a technology accelerator that provides consulting and financial advisory services to start-ups in the areas of business analytics, data mining, machine learning, artificial intelligence, visualization tools, predictive modeling, and cloud advanced analysis. AI VentureTech is a network of funds, family offices, and financial institutions dedicated to supporting projects within this emerging technology sector. http://www.aiventuretech.com
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