Munich/Bangalore: Artificial Intelligence (AI) today is disrupting the global economic landscape and driving the skill transformation in global talent market. The next-generation of technology will be developed by Artificial Intelligence while AI is set to change industry structurally. The USA is the undisputed leader in AI startup revolution with 1,170 while globally there are 2,277 AI startups, as per Zinnov research report titled ‘The AI Spring: Innovations for the next decade’.
Zinnov report mentioned that the AI based startup movement is also shaping up as there are 169 AI startups based in India. The total funding of these startups is $36 mn with average founding year is 2013. Bangalore is the hub of AI activities in India with presence of 64 startups and $27mn funding. Delhi stands second among metro cities in India with 26 startups ($330K funding). India has already seen total 8 acquisitions (3 each in 2015 and 2016) in the AI space.
The Zinnov study pointed out that with 2277 Artificial Intelligence (AI) startups globally and the current market of over $14.28Bn, U.S currently dominates the global Artificial Intelligence (AI) Startup landscape. Europe’s Artificial Intelligence (AI) Startup ecosystem is also emerging and growing rapidly with a total of 441 startups currently and an overall investment of $1Bn across UK, France and Germany; with Fintech, Healthcare and Retail being the top verticals. The UK is the second largest AI startup in the world with 188 startups.
The released Zinnov study very significantly pointed out that Artificial Intelligence (AI) today is disrupting some of the oldest and disruption-immune verticals like Automotive, Manufacturing and Finance, while witnessing a considerable interest in terms of funding as well, with a ten-fold increase in investments globally (from $94M in 2011 to $1049M in 2016) in the last five years.
The AI Spring: Innovations for the next decade research report also mentioned that in India total talents are working in the AI space is 4,187. In the talents working in the non-human intelligence space, especially AI, Bangalore leads with 2,670 professions while 950 AI professional are working in Hyderabad 300 in Delhi. Netrdayne, a Computer Vision startup from Bangalore, raised $16M in total funding. Tupplejump, Machine Learning & Data Analytics platform from Hyderabad, was acquired by Apple on 23 September 2016.
Global organizations are also well leveraging the European startup ecosystem, it pointed out. It also stated that there are three kinds of companies that are investing into Artificial Intelligence (AI) today – Startups, Top 500 Global R&D spenders’ and World’s five largest software companies.
Zinnov’s report on Global Artificial Intelligence market shares insights into a domain which has witnessed momentous growth and development in the last 20 years.
