The Top 5 Countries Dominating The AI Industry

0
1068
The Top 5 Countries Dominating The AI Industry
Advertisement
8topuz
8topuz
8topuz
8topuz

The Top 5 Countries Dominating The AI Industry

AI is a hot topic right now and for good reason. AI technology has the power to revolutionise our lives forever and solve some of mankind’s biggest problems.

From having the ability to detect and cure certain cancers to creating self-driving cars, artificial intelligence is set to have an extremely positive impact on society, if used correctly.  It even has the power to eliminate tedious day to day tasks that many of us face, such as data entry and answering emails.

For these reasons many countries and businesses are investing heavily in AI. But which countries are leading the way?

  1. USA

It’s not much of a surprise to see the USA at the top of the list. The economic powerhouse already dominates many industries, and the AI industry is no different.

The USA leads the way in investment and innovation. Years of industrial and academic research and hiring the world’s top foreign talent have put America in the driving seat. As a result, the AI industry has seen a massive $10 billion of venture capital being channeled in its direction.

8topuz
8topuz
8topuz
8topuz

However, various factors such as reduced funding and other countries investing more heavily in AI could see the USA lose its position as the front runner.

Some notable businesses in the AI field include:

  • Google Brain – A deep learning project attempting to have intelligence similar or equal to human-level.
  • Tempus – Using AI to create breakthroughs in cancer research.
  • Nutonomy – Providing safe and efficient driverless vehicles.
  1. China

China is giving tough competition to the USA in terms of becoming an AI superpower. China is investing heavily in the industry and is determined to become the global superpower. Their goal is to become a $150 billion AI global leader by 2030. To achieve this China is aggressively investing in education and research. As of now, the US is still the leader in AI, but China certainly looks likely to take the lead.

Some notable businesses in the AI field include:

  • Squirrel AI – Replacing human teacher roles with automatic and intelligent machines.
  • Sense Time – China’s largest AI algorithm provider.
  • Cloud Walk – Facial recognition firm for the financial, public security, and aviation sectors.
  1. United Kingdom

The UK is also investing heavily in AI. Although it might not be as powerful as the USA and China, they are leading the race in Europe. The country is home to over 120 AI-empowered firms. Private investment reached $8.6 billion in 2017 and in the same year the UK provided $78 million in funding to support robotics and AI research projects.

Some notable businesses in the AI field include:

  • Darktrace – AI security solutions for organisations to detect and defend against cyber-threats.
  • Babylon Health – Uses AI to answer questions that you would normally ask your doctor.
  • Della AI – Uses AI software to review and analyse legal contracts.
  1. Russia

Russia is starting to develop a strong foothold in the AI industry. Last year Russia managed to raise $2 billion from foreign investors to support domestic companies developing AI solutions.  Similarly to the USA and China, most investment is going towards its military. These military funded projects include AI-empowered fighter jets and automated artillery.

Some notable businesses in the AI field include:

  • Visionlabs – Computer vision solutions for facial recognition and augmented and virtual reality applications.
  • RoadAR – Augmented reality car navigation app that utilises machine vision.
  • Promobot – AI customer service robot for businesses.
  1. UAE

This may be a surprise inclusion for some people to see. However the UAE is currently ranked first in the Arab world when it comes to AI. They are also aiming to add 10.4 billion AED to the Dubai economy via data every year by 2021. To try and achieve their targets they have developed a fully fledged plan on how they will adopt AI and attract the top AI talent and businesses. It’s one of the most in depth strategies developed by a country so far.

Some notable businesses in the AI field include:

  • Fusion Informatics – Creating decision making AI apps
  • FuGenx – Helping businesses to build cutting-edge AI solutions
  • 8topuz – An automated AI trading and wealth management software

According to MarketWatch, AI is set to be worth $191 Billion By 2024. It’s therefore no surprise to see so many countries and businesses looking to get into the AI space. All the biggest names in the tech industry are investing heavily into both AI acquisitions and AI related research, as they know it’s set to be a profitable industry. The question now is who will win the race and dominate this industry for years to come?

8topuz
8topuz
8topuz
8topuz

LEAVE A REPLY

Please enter your comment!
Please enter your name here