How AI and machine learning has soared to record heights
March 1, 2021
The $50 billion threshold defined both global VC investment and exit activity in artificial intelligence and machine learning in 2020. Venture funding surpassed it with a record $52.1 billion, and exit value nearly reached it with a new annual high of $49.6 billion.
The AI and machine learning market is expected to top $111 billion in end user spending in 2021, according to our new installment of Emerging Tech Research, en route to hitting $203 billion in 2024. Other highlights from the report include:
The AI and machine learning market is expected to top $111 billion in end user spending in 2021, according to our new installment of Emerging Tech Research, en route to hitting $203 billion in 2024. Other highlights from the report include:
- Q4's $16.5 billion in capital invested set a record for quarterly VC funding in AI and ML.
- The healthcare, consumer, enterprise IT and autonomous vehicles segments led the way in 2020, with each raising over $5 billion.
- Multiple trends are converging to drive activity in autonomous robotics, including the booming demand for automation due to COVID-19.