ai principle and practice
What business should consider when making AI deals
Artificial intelligence is expected to contribute a potential US$15.7 trillion to the global economy by 2030, so it's not surprising that more companies are considering buying an AI firm to bolster their tech capabilities. The number of AI deals rose from only 10 in 2012 to 166 in 2018, according to CB Insights, and there were more than 140 AI acquisitions in just the first eight months of 2019.1 If your company is thinking about jumping on the AI bandwagon, you should know that this deal won't be like others you've made in the past. So you need to prepare. For one thing, the maturity of these companies varies markedly. Six out of 10 of the approximately 1,600 European AI startups in MMC Ventures' 2019 State of AI study are only at the earliest stages of AI implementation, while only one out of six has reached the growth stage.2