Why is now a good time to invest in the AI market?
AI represents a sea change in the way we view the economy, on a par with the industrial revolution or the Internet. This pervasive technology has already crept its way into healthcare, agriculture, banking and a slew of other industries, and we are facing a future in which AI is poised to transform formerly human-based industries such as hospitality, retail and education. In fact, one research report predicts that AI will revolutionize more than 90% of large organizations. With each new innovation comes more demand for AI devices.
According to a report published in February 2018, the artificial intelligence market is projected to reach a value of USD 190.61 billion in 2025, up from USD 21.46 billion in 2018. This represents a CAGR of 36.62% and is largely due to growing dependency on big data, cloud-based applications and intelligent virtual assistants. The investment opportunities for AI research and development are tantalizing, to say the least.
Snapshot: AI development in the East and the West
The race to develop artificial intelligence technology is largely dominated by the United States and China. While many market research reports put North America squarely at the forefront, AI expert Kai-Fu Lee notes that China has several important advantages. The first is in the sheer amounts of data being processed every day due to the size of the Chinese market and the fact that the people are willing adopters of artificial intelligence technology. China’s second advantage is that the government is very entrepreneur-oriented and makes it easy for funding to reach AI companies.
In contrast to countries such as the US, China doesn’t put as many ethical restrictions on AI development, allowing innovation to continue unhindered. The US faces a disadvantage in AI development because of its concerns about privacy, security and other ethical considerations. However, the US remains a global AI leader for now because of its superior research leadership. The key to fast-tracking AI research and development may lie in finding a way to combine the strengths of these two markets.
How can Crowdfunding.AI help fill the gaps in AI development?
Crowdfunding.AI takes a different approach to AI development by providing opportunities for AI development on a large scale while still incorporating the ethical considerations. Combining the strengths of the Chinese and North American markets by allowing cross-border investment and dialogue, for example, could open up promising alleys in AI development.
Another major hindrance to AI market growth today is the limited number of AI experts. One way to tap the full potential of the artificial intelligence market is by empowering small entrepreneurs to develop their technology.
Contribute to AI R&D while earning handsome returns on your investments
We believe the future of AI lies in the entrepreneurs who develop disruptive AI innovations – but need the money to realize their projects. While large corporations like Google and Facebook are already making use of AI technology, some of the most exciting projects to emerge in the last few years have come from small entrepreneurs who relied on crowdfunding.
If projections are anywhere close to accurate, the AI market is set to grow exponentially over the next decade. As a combined platform for dialogue and funding, we hope Crowdfunding.AI will become a key player in global AI research and development as entrepreneurs and governments around the world continue to work together to streamline development without foregoing ethical concerns. Investing with Crowdfunding.AI opens up the possibility of being involved in a core part of AI R&D while earning handsome returns on your investments.