These are good times for AI entrepreneurs. Recent analysis of venture data shows that funding for artificial intelligence startups continues its upward trend in 2017, with investment hitting new highs.
Venture, corporate and seed investors have put an estimated $3.6 billion into AI and machine learning companies this year, according to Crunchbase data. That’s more than they invested in all of 2016, marking the largest recorded sum ever put into the space in a comparable period. Where did the money go? Nearly 40 percent of 2017’s to date funding went to two companies. Argo AI, a Pittsburgh-based developer of AI technology for self-driving vehicles, raised $1 billion from Ford in February. And just this week, China-based SenseTime raised $410 million to develop applications of AI-powered deep learning technology for use cases like facial recognition and image processing.