For the last few years, one can see the emergence of a large number of intelligent products and services, their commercialavailability and the socioeconomic impact, this raises the question if the present emergence of AI is just hype or does it reallyhave the capability of transforming the world. The paper investigates the wide range of implications of artificial intelligence (AI),and delves deeper into both positive and negative impacts on governments, communities, companies, and individuals. This paperinvestigates the overall impact of AI - from research and innovation to deployment. The paper addresses the influential academicachievements and innovations in the field of AI; their impact on the entrepreneurial activities and thus on the global market. Thepaper also contributes in investigating factors responsible for the advancement of AI. For the exploration of entrepreneurialactivities towards AI, two lists of top 100 AI start-ups are considered. The inferences obtained from the research will provide animproved understanding of the innovations and the impact of AI on businesses and society in general. It will also provide a betterunderstanding of how AI can transform the business operations and thus the global economy.
AlphaGo, Deep Blue The success and the hype generated by DLNs in the last few years have propelled many companies to become an AI company and have spawned a plethora of AI-based start-ups. In the next section, the top 200 AI start-ups are analyzed, the investors and entrepreneurial actions are investigated in launching AI-based services in existing and new industries. Bridge, Scrabble, Monopoly, etc., at a controllable level of proficiency, from master level to novice. 2204 Neha Soni et al. / Procedia Computer Science 167 (2020) 22002210 Neha Soni et al./ Procedia Computer Science 00 (2019) 000000 4. Global Market Analysis
id: bf45e653682ecafbc9c5f318a79fcd06 - page: 4
In a knowledge-based society, start-ups are considered as the innovation and growth drivers of the economy; their analysis would help to gain valuable insights into the exploration of the transformational impact of AI on the businesses. Two lists of top 100 AI start-ups obtained with the help of the CB Insights Mosaic algorithm are considered. The algorithm identifies the top AI start-ups by evaluating the factors like profile, mosaic score, financing history, investor quality, business model, funding history, etc. The lists were made available by investigating, 1650+ and 2000+ global start-ups, using the Mosaic algorithm. In the rest of the paper, the AI startups list for 2017 and 2018 is referred to as AI17 and AI18 respectively. A part of these results has been presented at an international conference DIGITS 2018 jointly organized by University of Maryland and Birla Institute of Management and Technology. The extended version of the manuscript has been submitted to Journ
id: a7f13bf8f7020944759e062d394ee80d - page: 5
4.1. Sectors and Industries AI start-ups initiated all over the world are categorized in 22 different fields including autonomous vehicles, business intelligence, healthcare, etc. Fig. 1. depicts the percentage of 200 AI start-ups (AI17 and AI18) in different lines of business which majorly covers all the fields where AI is showing its impact. It can be seen clearly that the spread of AI is all pervasive, from education to healthcare, from home to industry; there is no place where AI is not being used or explored. Fig. 1 Percentage of AI start-ups in different industries for (a) 2017 (b) 2018 Fig. 1. illustrates that in AI17, Core AI gained the maximum attention and in AI18, cybersecurity was maximally benefitted from the AI technology. The detailed analysis of the data uncovered the top six industrial sectors of AI17 and AI18 viz. cybersecurity, healthcare, business intelligence, enterprise AI, core AI, and cross-industry.
id: 240d1a25dca04d63fc640b9a54b2037e - page: 5
These pre-eminent AI start-ups are creating technological and process-oriented innovations that would generate efficiency gains and business opportunities in the near future. Some of the processes under the above top six industrial sectors that would be responsible for technological transformations in the global market are explored. The processes are viz. medical image analysis, drug discovery, robotic surgery, virtual nurses, health monitoring, Mosaic algorithm: It is a datadriven technology developed by CB Insights to measure the growth of private companies. The algorithm uses machine learning and advanced language processing techniques to understand these companies. 5 6 Neha Soni et al./ Procedia Computer Science 00 (2019) 000000 personalized product search and recommendation, sale and demand prediction, customer segmentation, cyber attacks prediction, and automated manufacturing.
id: 59d05583c5f50bca1e87f4c1ae4e1ba9 - page: 5