More capital flows into artificial intelligence (AI) companies than in any other ICT sector in Europe, according to a report by London-based technology investment firm Atomico.
The report estimates that in 2018 a total of $1.9 billion has been invested in European AI companies, based on the latest data projections. In 2017, investments in such companies reached $2.3 billion. Investment in the sector has grown rapidly since 2013, when investors spent only $234 million in AI companies.
According to Rasmus Ekholhm, head of European relations at Finnish investment conference Slush!, Europe is home to the largest share of top 100 AI research institutions globally in addition to being home to half of the top computer science institutions.