Would recommend reading the whole article, core bits here:
Two-fifths of Europe’s artificial intelligence start-ups do not use any AI programs in their products, according to a report that highlights the hype around the technology.
The research by London-based investment firm MMC Ventures could not find any evidence, based on public information and interviews with executives, of artificial intelligence applications at 40 per cent of 2,830 AI start-ups in Europe.
Nevertheless, the companies are often described as AI-focused, said David Kelnar, MMC’s head of research, who added that many start-ups had plans to develop machine-learning programs, an application of AI that sees computers automatically learn and improve from experience, in the future.
Almost 8 per cent of European start-ups founded last year were AI companies, compared with about 3 per cent in 2015, MMC’s research showed, with the UK taking the lead. The UK has been home to some of the most high-profile AI businesses, which have been bought by foreign buyers, such as Google’s DeepMind, Microsoft’s SwiftKey and Twitter’s Magic Pony.
However, investors said the industry would have to cut through a growing frenzy around the sector. “Getting stuck in buzzwords is never a good thing,” said Simon Cook, chief executive of Draper Esprit. “AI has become a catch-all phrase that’s often used flippantly.”
Submitted March 05, 2019 at 03:19PM by bennzo1238 https://ift.tt/2TjuzVK
