Artificial Intelligence (AI) has become one of the hottest sectors in recent years, with its technology promising to revolutionize and automate every industry imaginable. We have been covering this trend, showing a massive increase in AI startup funding. As you can see in the graphic below, AI funding more than doubled from 2016 to 2017. Its funding more than tripled from 2016 to 2018.
This phenomenon then begs the question - what caused this explosive growth in AI funding? This explainer blog will help you understand the contributing forces behind the growth. It can be attributed to three factors:
The geopolitical battle between the US and China
The AI sector maturing over time
Specific AI functions gaining strong traction
US and China’s Geopolitical Battle for AI Dominance
The first factor contributing to the staggering AI funding jump is the geopolitical battle for AI dominance between the US and China. A plethora of news outlets, such as...