MUNICH, Germany, October 5, 2016 /PRNewswire/ --
- The Global Startup Distribution for AI Stands at $14.28 Billion, With US Dominating the Startup Landscape and Europe Growing Rapidly
- With an Investment of $1Bn and Nos. 441 Startups in Europe (Including UK, France and Germany) Fintech, Healthcare and Retail are the Top verticals
Leading Management Consulting firm, Zinnov, today released a first-of-its-kind study on the Global Artificial Intelligence market, titled, 'The AI Spring: Innovations for the next decade' sharing insights into a domain which has witnessed momentous growth and development in the last 20 years. The released Zinnov study very significantly pointed out that Artificial Intelligence (AI) today is disrupting some of the oldest and disruption-immune verticals like Automotive, Manufacturing and Finance, while witnessing a considerable interest in terms of funding as well, with a ten-fold increase in investments globally (from $94M in 2011 to $1049M in 2016) in the last five years.
Divulging details on the geographical spread, the Zinnov study pointed out that with 2277 Artificial Intelligence (AI) startups globally and the current market of over $14.28Bn, U.S currently dominates the global Artificial Intelligence (AI) Startup landscape. Europe's Artificial Intelligence (AI) Startup ecosystem is also emerging and growing rapidly with a total of 441 startups currently and an overall investment of $1Bn across UK, France and Germany; with Fintech, Healthcare and Retail being the top verticals. Global organizations are also well leveraging the European startup ecosystem, it pointed out. It also stated that there are three kinds of companies that are investing into Artificial Intelligence (AI) today - Startups, Top 500 Global R&D spenders' and World's five largest software companies.
Talking about this fast growing segment, Pari Natarajan, CEO, Zinnov said, "Artificial Intelligence (AI) is the disruptive force of our time that will change industry structures drastically. The next-generation of products will be developed by Artificial Intelligence (AI). AI is just not enabling some new product features but is playing a role across the value chain of industries and is the fastest technology deployment to happen across industry verticals. In the last 5 years alone, investments in Artificial Intelligence (AI) have grown ten-fold from $94M in 2011 to $1049M in 2016."
And last but not the least, the study added that as Artificial Intelligence (AI) becomes a top priority in the innovation horizon of various global enterprises, its implementation comes with certain challenges.
For more on this study and how it's disrupting the market, visit us and register at Zinnov's annual thought leadership summit, Confluence in Munich on 6th October, 2016. To listen to leaders from the industry discuss this segment in details, register at http://confluence.zinnov.com/germany/.
Founded in 2002, Zinnov is headquartered out of Bangalore with presence in Houston, Silicon Valley, and Gurgaon. In over a decade, Zinnov has built in-depth expertise in engineering and digital practice areas. We assist our clients in globalizing their operations and maximizing their footprint by:
- Effectively leveraging global resources for engineering, IT, Digital and Business Ops for higher throughput - innovation, productivity, cost savings
- Enabling companies to focus on new product development and core business processes by finding the best partners
- Growing revenue for their products and services in India and other emerging markets.
Zinnov Management Consulting
SOURCE Zinnov Management Consulting