As AI comes to dominate global venture capital investments, Europe must take action to avoid being left behind, a new report suggests
Photo credits: Possessed Photography / Unsplash
Global investors are turning their attention to artificial intelligence at an unprecedented scale, warns a new report from innovation ecosystem development organisation Startup Genome. As a result, a policy shift is needed at local and national level to ensure Silicon Valley and Beijing alone do not capture all the benefits.
“Within five years, AI will become both the foundation and a ubiquitous component of every tech start-up,” the latest global start-up ecosystem report predicts. “Every startup ecosystem that does not race to define and implement entrepreneurial AI policy stands to see a large portion of its ecosystem value destroyed within five years.”
Venture capital (VC) funding into AI and big data start-ups grew 33% last year, and now represents 40% of all VC investment, up…
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