AI funding frenzy tags cloud-scale computing as enterprises' point of differentiation - SiliconANGLE

Data is at the core of today's digital revolution, but its refinement processes have become the real points of differentiation for enterprises. As companies convert raw data into actionable insights, artificial intelligence signals a burgeoning ecosystem of management models. The current wave of AI startup investment has received $16.5 billion in capital over the three months of the fourth quarter 2020, according to financial analysis from PitchBook Data Inc. The boom is continuing, with the latest figures from International Data Corp. showing a 16.4% year over year growth for the overall AI and machine learning market in 2021, with the AI software platforms market coming in strongest at a predicted compound annual growth rate of 32.7% between 2020 and 2024. AI has already become an essential part of many enterprise technology solutions. The McKinsey & Company Inc. 2020 "The State of AI in 2020″ survey found that 50% of companies had incorporated AI into at least one process, with marketing and sales the most common functions.