Over the last few years, AI investment has risen dramatically around the globe. It is actually the largest form of investment in the emerging market sector. While the UK has a slightly better investment record than the European Union's, its position is far less than the United States. The United States has a reputation for being risk-averse and is well known for investing in AI. Its AI start-ups have disrupted traditional businesses, and have established a strong position in the AI space. But the UK might miss out on the wider economic benefits of AI business expansion.
Computer software is the UK's largest intangible asset. This is according to an ONS report, but it's only a small part of the total. Machine learning, natural language processor, and image processing are the most popular AI technologies. It is therefore a good idea for companies to invest in AI-related infrastructures. This can allow businesses to make better utilization of human capital. You can save a lot of money.
Over the next few years, AI investment is expected to rise around the globe. Global corporate investment is expected to reach US$68billion in 2020. The United States holds the lead in AI investment globally, with the European Union following close behind. China is closing the gap with America. According to the Chinese government, it intends to make major breakthroughs in AI technology by 2025. It has also developed a clear IP strategy and is heavily investing in research and development.
AI is an important technology with the potential to transform the way that many industries work. It isn't without challenges. It is important for governments to take steps to ensure that they are well prepared for this. They can also help with domestic problems and AI innovation. They can also offer better guidance to assist businesses in implementing AI systems.
In 2018, the United States saw record investments in AI start ups. It was actually the first year in which the number of AI startups grew faster than any other year. These start ups create solutions to specific problems. These start-ups can be quickly acquired by developers and other companies. Many of these small start-ups cannot attract larger investment rounds. This is because it is difficult to protect their inventions.
Large technology companies in the United States offer AI services. Many AI-related R&D is outsourced to large multinationals. Many companies receive investment to develop AI system. These systems require large data sets to train models. Businesses should invest in their internal infrastructure. The ease of working remotely has also enabled development teams to be located anywhere.
The UK has been known for being a great place incubating new technologies. But, the UK is still a small market. Many young companies are seeking to exit early. This could be indicative of a global trend in which rapid exits of AI-related companies can be achieved via M&A. To avoid any national security risks, the UK needs to strengthen its regulatory framework.