Fewer newly funded startups too, according to report
Global private investment and the number of AI startups decreased in 2022, while the industry’s adoption of the technology has plateaued compared to previous years, according to new data.
This revelation hits at a time when AI hype is at an all-time high. Commercial tools capable of generating images, text, code, video, audio, and even music are rapidly improving and becoming increasingly convincing.
Companies across different industries are looking to deploy generative AI features to revamp existing products and services or create new ones. Analysts are predicting the boom will increase global productivity and change the labor force, while experts are debating whether the technology poses an existential threat to humanity.
Despite all the mania and disruption, corporate funding in AI – which had been increasing year-over-year since 2013 – has fallen for the first time in a decade.
According to this year’s AI Index Report – an analysis led by Stanford University’s Institute for Human-Centered AI – global AI private investment was $91.
