Two in five 'AI startups' essentially have no AI, mega-survey of nearly 3,000 upstarts finds

Found on The Register on Tuesday, 05 March 2019
Browse Various

A full 40 per cent of tech companies describing themselves as "AI startups" had no evidence of machine-learning tech "material" to what the firms actually did, a report by VC investor MMC Ventures.

VC investment in AI has increased 15x in five years, the firm estimated. MMC also found that a greater proportion of AI startups are highly valued – for now.

Obviously. AI is just another buzzword that makes investors drool; like 5G, Smartwhatever, Cloud and Agile. Many of the so-called experts don't even have a clue and define AI as "algorithms".