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HANNOVER MESSE 2020, 20 - 24 April
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Artificial Intelligence

Not all ‘AI startups’ are an AI startup

Startups that work with artificial intelligence (AI) are being wooed by industry and easily attracting investors, at the moment. A study has now shown, however, that four in ten startups labelled as ‘AI’ actually have nothing to do with AI.

20 Mar. 2019
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Not all ‘AI startups’ are an AI startup (Chart: MMC Ventures, Beauhurst, Crunchbase, Tracxn)

British venture capital firm MMC surveyed a total of 2,830 European startups classified as AI companies. Only 1,580 of these companies were, however, found to actually work in the field of artificial intelligence. The other 40% are assumed to be AI companies even though they probably are not, David Kelnar from MMC told Forbes . Some startups are not necessarily promoting themselves as AI firms, but rather are being classified as such by analysts. As German online news Website heise.de stated, “possibly because AI companies attract higher investments.”

Investors and industrial companies on the hunt for partners among German AI startups should take a look at the AppliedA I initiative map, which lists 132 relevant startups from this field. One of the aims of the initiative is to help industry adapt to AI.

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