Artificial intelligence and startups: The AI gold rush

Artificial intelligence (AI) is the hot technology for Silicon Valley startups (I've personally talked to 15 AI startups in the past year). In fact, AngelList currently lists more than 2,000 AI startups with an average valuation of $5 million. In his TED Talk, digital visionary Kevin Kelly described AI as the next revolution, and his simple formula for startups is to "solve a problem using AI." And, IDC projected the AI market will reach more than $47 billion by 2020, with 62% of enterprises adopting the technology by next year. Interestingly enough, AI adoption isn't limited to startups.