According to the widely referenced MMC report, 40% of European companies classified as being “AI startups” showed no evidence that they actually used AI. It largely stems from startups wanting to position themselves as an AI company for the premium they receive when fundraising, hiring, selling or otherwise and, I think, a lack of understanding,” comments Harry Davies, Applied AI Lead at Tech Nation. Supported by the U.K. Government’s Office for Artificial Intelligence – as part of the AI and Data Sector Deal – Applied AI 1.0 is targeting AI-first startups that aim to solve real-world problems. These key challenges – identified through conversations with founders and VCs – will inform the sessions put forward by the Applied AI 1.0 programme. For example, Applied AI 1.0 will be supported by Faculty, an AI company that has previously benefited from Upscale, another Tech Nation programme.
Source: Forbes June 11, 2019 07:30 UTC