Majority of promising AI start-ups are still based in the US
- The high percentage of US-based companies reflect the country’s historical dominance in AI research
- More than 4,300 AI start-ups in 80 countries have raised US$83 billion since 2014
The most promising start-ups using artificial intelligence are US-based companies working in the fields of health care, retail and transport, according to a study that looked at budding AI companies around the world.
Of the top 100 start-ups in AI, 65 per cent were based in the US, though some of those had dual headquarters in China or elsewhere, according to data from CB Insights, a research group that analysed data on close to 5,000 start-ups around the world.
“These would be companies to watch that are doing really interesting research in AI,” said Deepashri Varadharajan, the lead analyst on the report. “Some of them might get acquired. Some might have successful product launches.”
The research group considered venture capital investment, patent activity and market potential to develop in its list of the AI start-ups most likely to succeed. The high percentage of US-based companies reflect the country’s historical dominance in AI research, Varadharajan said.
More than 4,300 start-ups in 80 countries have raised US$83 billion since 2014, including US$26.6 billion just last year, according to CB Insights.
While the dollar figures for investment have grown rapidly, the share of US-based investments dropped in that period to 39 per cent from 71 per cent.