The AI Investment Surge, Trends and Transformations In 2023 And 2024 – SwissCognitive AI Radar

Welcome back to the SwissCognitive AI Radar, our dedicated section on the latest tech investment trends and shifts in the global market. As AI continues to redefine the boundaries of technology and business, we are witnessing a fascinating evolution in how investments are being channeled into this transformative field.

This edition focuses on the multifaceted role AI is playing in private equity, with over half of limited partners adopting AI solutions for better decision-making. This trend is a clear indicator of AI’s growing influence on investment strategies.

The recent $3.5 million seed funding for Arcanna.ai and the strategic integration of Generative AI in enterprises underscore the crucial balance between rapid technological advancement and ethical considerations. Foreign Direct Investment in 2024 is set to navigate a complex landscape, with AI remaining a focal point of investing discussions, highlighting its continued dominance in these conversations.

Meltwater’s transition to a private entity with a substantial fund from Verdane and Revo Capital’s new AI-driven fund in Turkey reflect the diverse and global nature of AI investments. Meanwhile, interviews with top AI startup investors reveal a shift in focus towards application-layer software and tools managing foundational AI models.

As AI continues to grow and evolve, investors and companies are eager to harness its potential despite challenges and risks. Join us as we delve into these topics and explore the transformative impact of AI in the investing sector in 2023 and 2024.

Previous SwissCognitive AI Radar: AI Investment Trends And Tech Transformations.

Our article does not offer financial advice and should not be considered a recommendation to engage in any securities or products. Investments carry the risk of decreasing in value, and investors may potentially lose a portion or all of their investment. Past performance should not be relied upon as an indicator of future results.

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Humans in the Loop is a social enterprise founded in 2017. It helps refugees from conflict zones like Syria, Iraq, and Afghanistan settle in the country by acquiring digital skills that they can use for working on artificial-intelligence and machine-learning-related projects.

So far, the enterprise has helped around 2,000 refugees find work and integrate into Bulgarian society.

According to its CEO, Iva Gumnishka, Humans in the Loop can provide workers for any stages of the machine-learning model training and development cycle.

“The work ranges from collecting and labeling the ground truth dataset, to verifying the model’s predictions once it’s trained, and handling edge cases, which it’s not sure about,” Gumnishka tells ZDNet.

“We do quite a lot of work in the field of labeling and annotating images and video for computer-vision purposes, which is where the biggest demand in the market is coming from.”

The organization works mostly with refugees, internally displaced people, and people living in conflict zones. It looks to offer employment for those who are left out of the labor market. Aside from the 100-people team based in Bulgaria, the company also works with 150 people across Turkey, Syria, and Iraq.

“In most countries, we partner with local NGOs, which provide digital skills and IT training. We ourselves organize upskilling training for our workforce, which includes computer skills and English,” she explains.

According to Gumnishka, these opportunities are especially suitable for women who prefer to work from home and are looking to combine their projects with housework and childcare.

“We always distribute projects according to a priority score that each worker has, determined by their legal status, number of dependents, employment status, and other vulnerability factors.” she tells ZDNet.

Over the past few years, the company has worked with many startups across Europe and the US, developing products in the fields of AI and computer vision.

Its workers have also been involved in precision agriculture projects involving the segmentation of crops from drone images, insurance tech projects related to car-damage detection and assessment, facial detection, and spoofing detection for CCTV cameras.

The company is currently looking for additional partners in the Middle East, especially in Palestine, Lebanon, Jordan, and Yemen. By 2020, Humans in the Loop aims to employ up to 500 people from conflict-affected countries, and to forge many new partnerships with AI companies.

Read more: https://www.zdnet.com

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We often hear suggestions that data is humans’ most valuable asset, and with growing data and the quality of data retained, how artificial intelligence (AI) can work wonders in analytical systems is something to think about. Experts give us a road map of data, and companies follow these recommendations. But perhaps these institutions need to take a step back before they go too far and make sure they set up the initial requirements correctly. Why?

The year 2020 will be one of the hybrid cloud in the field of corporate software. According to IBM, the value of the hybrid cloud market is $1 trillion. The cloud is no longer a type of storage where only individual users send photos and documents they want to keep, reflecting their most precious memories. At this point in the software extension of Industry 4.0, software and AI companies now want corporations to protect their data, and they want companies to create their own AI architecture by offering open source technology.

In other words, for software companies to invest in the hybrid, they must hold data of corporations as well as individuals, use it correctly and thus add value to the data itself. In 2020, software companies will encourage organizations to embark on a hybrid cloud attack. Figures show that only 15% of data appears globally, while 85% remains idle and is not suitable for use in business. In the simplest terms, institutions cannot derive income from the data they have accumulated.

In other words, for software companies to invest in the hybrid, they must hold data of corporations as well as individuals, use it correctly and thus add value to the data itself. In 2020, software companies will encourage organizations to embark on a hybrid cloud attack. Figures show that only 15% of data appears globally, while 85% remains idle and is not suitable for use in business. In the simplest terms, institutions cannot derive income from the data they have accumulated.

A lot of progress in a year

While many companies are halfway through the data-cloud-AI level in the global sense, how should the world and Turkey progress “in the second part?” How should they convert their data to value? We discussed this issue with IBM vice president for Artificial Intelligence and Global Sales, Alyse Daghelian, who delivered a speech titled “Journey to Artificial Intelligence” at the IBM Think Summit in Istanbul on Dec. 4.

Recalling that AI is a technology that has been on the agenda since the 1980s and that more AI applications have evolved with increasing computational power, Daghelian said that in recent decades, the accumulation of data in institutions has led to the interpretation of data. […]

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What’s now called Turkey was once the center of the Ottoman Empire, a global hub of culture and science during its heyday which lasted over 600 years. It was the birthplace of the first surgical atlas and the first watch that measured time in minutes, and it’s where astronomers first calculated the eccentricity of the Sun’s orbit. Today, Turkey is better known for its rich cultural heritage, with large numbers of Russian and German tourists haggling over evil eyes, sipping Turkish tea in bazaars, and enjoying the hot water baths of Istanbul. With a population nearing 79 million people, Turkey also has high-quality and relatively cheap resources for developed markets to exploit capitalize on, along with a budding startup ecosystem .

Deal sizes might be on the low side, but Turkish tech startups have stepped up to participate in the global AI race. The country is in the process of formulating an AI strategy that will become a bridge between private stakeholders and public policies, boosting research in the field. We scoured Crunchbase to find the ten Turkish AI startups that have received the most funding to date.

Originally established in Istanbul in 2017, FalconAI Technologies has now been transplanted to Bawstuhn Massachusetts where their $3 million in funding is being used to develop machine learning, computer vision, and generic AI algorithms for various applications. The startup currently offers two products. The first is an app called FashionI that learns users’ personal style through analyzing shopping behavior, and offers outfit recommendations, complimentary products, and personalized offers to the lemmings who think fashion is something worth spending meaningful amounts of money on.

FalconAI’s second offering, the SenpAI platform, uses AI algorithms to help video game players by monitoring and analyzing their performance and then recommending areas of improvement. SenpAI is currently available for Defense Of The Ancients 2 (DOTA2), and the response has been so positive that they have now set their eyes on League Of Legends (LOL) which leads e-sports revenues generating an estimated $1.4 billion per year. (DOTA2 is responsible for the largest competition prizes.) With top e-sports players treated like rock stars (and paid accordingly), SenpAI offers tangible value to the many aspiring gamers out there.

Founded in 2014, Istanbul startup Vispera has raised $1.9 million to develop computer vision solutions for the Fast-Moving Consumer Goods (FMCG) sector. The startup’s algorithms analyze smartphone photos of shelves, coolers, and cabinets to determine how products are placed, if their branding and price tags are visible, and which products are missing. These retail audits benefit retailers as they help manage stock and suppliers by ensuring they receive the allotted shelf space and necessary promotional materials.[…]

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The regional and global segmentation of the global Cognitive Computing market segments the market into major regions covering United States, North America, Canada, Asia-Pacific, China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Philippines, Thailand, Vietnam, Italy, Europe, Germany, France, UK, Russia, Rest of Europe, Central & South America, Brazil, Rest of South America, Middle East & Africa, Egypt, Turkey, South Africa, Rest of Middle East & Africa and rest of the world. According to the research report, these are the leading market and estimated to grow during the forecast period. Holding the immense share in the global market, it is growing with good speed. Our Research will focus on sector analysis, market trends and competitive landscape and drivers as well as conducts the detailed market research and develop this single-volume resource document.

Leading Players Of Cognitive Computing Market Are:

Google LLC, IBM corporation, Microsoft corporation, Oracle corporation, SAP Inc, Statistical Analysis System (SAS) Software Ltd, Saffron Technology Inc, Vicarious FPC Inc, Palantir Technologies Inc, Enterra Solutions LLC

Global Cognitive Computing Market Segmentation:

Global market segmentation, by technology:

Natural Language Processing
Machine Learning
Automated Reasoning Information
Retrieval Global market segmentation, by deployment:

On-premises
Cloud Global market segmentation, by application:

Robotics
Cyber Security
Social Media Monitoring
Self-driving cars
Gaming
Video Surveillance
eLearning
Global market segmentation, by end-use:

Banking, Financial Services and Insurance (BFSI)
Media & Communication Services
Manufacturing and Natural Resources
Aerospace and Defence
Transportation and Logistics
Government and Utilities
Others (Food & Beverages, Oil & Gas, Real Estate)

Report Coverage:

-Worldwide and Top 20 Countries Market Size of Cognitive Computing , and development forecast 2018-2027.

-Main manufacturers/suppliers of Cognitive Computing global and market share by regions, with company and product introduction, position in the Cognitive Computing market.

-Cost and profit status of Cognitive Computing, and marketing status.

-Market growth, challenges, and drivers.

-Market current status and development trend of Cognitive Computing by types and applications.

Some of the key pointers addressed in the report have been enlisted below:

-An elucidation of pivotal pointers such as the market share amassed by every region sales and the volume accumulated over the projected time frame.

-Further details about the manufacturer base, such as generic overview of the company, an overview of the firm in terms of the position it currently commands in the Cognitive Computing market, and its expanse in the industry.

-An exhaustive summary of the products developed by the manufacturers in question and a concise summary of the product portfolio with respect to parameters such as the product applications and sales volume every product type accounts for.

-Pivotal pointers such as Cognitive Computing market competition trends as well as the market concentration rate – basically inclusive of the specifics about some of the top players of the Cognitive Computing market.[…]

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People have long dreamed of the idea of machines having the intelligence and capabilities of humans. From the early Greek myths of Hephaestus and his automatons to the Golem of Eastern European Jewish tradition to well over a hundred years of science fiction stories, novels and movies, our human imaginations have envisioned what it would be like to have sentient, intelligent, human-like machines co-exist with us. In 1920 Karel Čapek’s play R.U.R. (Rossum’s Universal Robots) first coined the word “robot” and gave us a name to give to the creations of our imaginations. In many ways, the quest for the intelligent machine lead to the development of the modern computer. Ideas by Alan Turing not only formulated the basis of programmable machines, but also the core of the concepts of artificial intelligence, with the namesake Turing Test providing a means for evaluating intelligent machines.

Yet, with centuries of technology advancement and the almost exponential increase of computing resources, data, knowledge, and capabilities, we still have not yet achieved the vision of Artificial General Intelligence (AGI) — machines that can be an equal counterpart of human ability. We’re not even close. We have devices we can talk to that don’t understand what we’re saying. We have cars that will happily drive straight into a wall if that’s what your GPS instructs it to do. Machines are detecting images but not understanding what they are. And we have amazing machines that can beat world champions at chess and Go and multiplayer games, but can’t answer a question as basic as “how long should I cook a 14 pound turkey?” We’ve mastered computing. We’ve wrangled big data. We’re figuring out learning. We have no idea how to achieve general intelligence.

Part of the reason for this disconnect is confusing the various things that we’ve developed as a result of our quest for the intelligent machine from the quest itself. Artificial intelligence is not a technology. Asking the question whether or not some particular technology is or isn’t AI is missing the point. Artificial intelligence is the journey. It’s the quest for the intelligent machine. All the technologies we’ve developed on the route to that quest are things that are individually useful, but all together, have not yet gotten us to the goal. This is why it’s important to understand that artificial intelligence is not a technology, in much the same way that the Space Race is not a technology.[…]

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Artificial intelligence is a topic that interests us all today. We are experiencing the advantages of this technology “unwittingly” in different business areas, especially in the cellphones we use, along with mobile applications at the center of digital transformation, and the insurance and banking sectors. The idea that whether an “artificial intelligence dystopia” will turn into reality is a nagging question of our times.

The answers to the questions “Are we really afraid of artificial intelligence?” and “How intimate are the institutions in Turkey with this technology and where are they in the developments taking place in the world?” are pondered upon by both individuals and institutions in terms of steering the future. IBM, which has an important place in the development history of artificial intelligence since the 1990s with Watson and provides corporate services for “artificial intelligence – internet of things (IoT)” solutions, is the international address that can answer these questions in the most accurate way.

Nicholas Anderson is IBM Turkey’s country strategist, meaning that he sheds light on how IBM’s global business strategy policies can be integrated into institutions in Turkey. British Anderson has been in Turkey for 10 years. Thanks to his Turkish wife and his wonderful integration with the Turkish culture, he has become a proper bridge between Turkey and IBM. Anderson, who can objectively interpret the connection between Turkish culture and technology and the way it has gone through in digital transformation, has some observations that can capture your interest.

“The Turkish people love to use technology, but in the fashion of an abacus. They are looking for tangible and concrete data before investing in technology,” Anderson said. “Turkey has a banking system that is very rare in the world. If you want a credit card here or if you want to carry out any banking transactions, all the convenience is provided online/offline, and all the processing takes place in a short time.” Anderson thinks this makes a positive contribution to the digitalization process in Turkey.  […]

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