Summary of the AI Trends:
- China vies with US for global AI leadership Despite a mere 9% share of deals going to AI startups globally, China’s AI startup scene took nearly 50% of dollars going to AI startups globally in 2017, surpassing the United States for the first time for share of dollars.
- It encompasses everything from smart agriculture and intelligent logistics to military applications and new employment opportunities growing out of AI. Part of the resources are going to innovative China-based startups developing AI in industries ranging from healthcare to media.
- China’s AI startups took 48% of all dollars going to AI startups globally in 2017, surpassing the United States for the first time for share of dollars.
- China dominates global AI funding US vs. China total equity funding to startups in 2017 6 AI-related patent publications explode in China Based on keyword searches of title and abstract, 2013-2017 The United States still dominates globally in terms of the number of AI startups and total equity deals.
- The chief technology officer of stealth AI chip startup Groq worked at the hardware engineering unit for the Tensor Processing Unit at Google and later at Google X. The CTO and co-founder of chip startup Horizon Robotics was a previous Baidu employee who led the image recognition team at the Baidu Deep Learning Institute.
- As Frank Chen of a16z put it, “In a few years, no investors are going to be looking for AI startups.” It will be “Assumed” that startups are using the necessary AI algorithms to power their products.
- Top investors are carefully gauging startups using AI. For instance, diagnostics startup Freenome was sent 5 unlabeled blood samples for analysis with its AI-powered algorithms before a16z decided to back the company.