According to a latest report by MoneyTransfers.com, private investment in Artificial Intelligence more than doubled and skyrocketed to USD 93.5 Bn in 2021 globally.
“2021 was especially exciting because it saw many new faces coming into the market. Only four funding rounds worth $500 million or more made it to the market in 2020, contrasting with the 15 that did so in 2021,” said Jonathan Merry, CEO of MoneyTransfers.com.
The analysis reported 746 newly funded AI firms in 2021, marked down from 1051 in 2019 and 762 in 2020. The amount of funding by Venture Capitalists (VCs) in for startups centred around AI has shot up since 2017.
“It’s clear that private investors want to invest heavily in AI – but only as long as they see a real return on their investment. With that in mind, it’s important for founders looking for seed funding to consider what kind of value investors expect from their investment,” the report stated.
The United States and China lead in terms of investments in the field of AI. The US invested over an amount of USD 23 Bn while China stood at USD 9.9 Bn. China is eyeing the tag of the world’s AI innovation hub with a target market share of USD 150 Bn.