Do Startups Really Deploy Artificial Intelligence? Research Believes Otherwise!

he biggest buzzword that has gripped the tech world of late is artificial intelligence. But is the term Artificial Intelligence overhyped? Yes, this is what research estimates show. According to a research from venture capital firm MMC Ventures, over Two-fifths or 1,000 of Europe’s 2,380 AI startups do not use artificial intelligence in their products and offerings. Surprised! We bet you are!!

The latest report that highlights the hype around technology is conducted by a London-based investment firm MMC Ventures. The study is based on public information and interviews with executives highlighting the analysis of artificial intelligence applications at 40 percent of 2,830 AI startups in Europe.

The report reviewed all the functions, activities and funding of new businesses across 13 European countries and found that many do not use AI in a productive manner which adds to a company’s value proposition. MMC head of research David Kelnar in an interaction with Forbes said that “companies that people assume and think are AI companies are probably not”. READ MORE ON: ANALYTICS INSIGHTS