New large-scale AI models are being released on a regular basis and are posting state-of-the-art results, the report says. The past year has seen AI reach a new level of maturity and shift towards deployment. These included the US$8 billion purchase of Avast by NortonLifeLock in the year’s third largest AI M&A transaction the US$1.48 billion minority stake event for Grupo de Inversiones Suramericana, the second biggest AI deal of this kind in 2022 and the US$820 million private investment secured by Faire Wholesale, the second largest AI private investment deal in the US last year. Global corporate investment in AI by investment activity, 2013-2022, Source: The Artificial Intelligence Index Report 2023, Stanford Institute for Human-Centered Artificial Intelligenceĭespite the downturn, AI fintech recorded some notable deals in 2022. Globally, AI private investment declined by 26.7% in 2022 while the broader corporate investment landscape, which also includes AI mergers and acquisitions (M&A), minority stakes and public offerings, pulled back by 31.3%. Private investment in AI by focus area, 2021 versus 2022, Source: The Artificial Intelligence Index Report 2023, Stanford Institute for Human-Centered Artificial Intelligence Investment in AI data management, processing and cloud, meanwhile, fell 51.6%. Investment in both AI fintech and AI for the medical and healthcare sector declined by 46% in 2022 each. Nearly all AI focus areas recorded a decline in private investment last year, reflective of the global venture capital (VC) downturn. Fintech followed medical and healthcare, the year’s top AI focus area with US$6.1 billion raised, and data management, processing and cloud with total private investment reaching US$5.9 billion.
According to this year’s report, fintech maintained its position as the third largest focus area for AI investment, securing 6% of global AI funding in 2022. The Artificial Intelligence Index Report 2023, released on April 03, sheds light on the impact and progress of AI over the past year, looking at trends in research and development (R&D), technical performance, ethics, economics, policy, public opinion, and education. Of that sum, fintech companies secured the third largest amount, raising a total of US$5.5 billion, a new report released by the Stanford Institute for Human-Centered Artificial Intelligence (HAI) says. In 2022, global private investment in artificial intelligence (AI) companies reached US$91.9 billion, a 18-fold increase compared with 2013.
Stanford: Fintech Maintains Position as Third Biggest AI Investment Focus Area
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