McKinsey's State Of Machine Learning And AI, 2017 7wData

Tech giants including Baidu and Google spent between $20B to $30B on AI in 2016, with 90% of this spent on R&D and deployment, and 10% on AI acquisitions. Artificial Intelligence (AI) investment has turned into a race for patents and intellectual property (IP) among the world's leading tech companies. U.S.-based companies absorbed 66% of all AI investments in 2016. China was second with 17% and growing fast. By providing better search results, Netflix estimates that it is avoiding canceled subscriptions that would reduce its revenue by $1B annually.