Last year was a time of excitement in the machine learning arena as a growing number of startups closed huge funding rounds in 2022. Emerging companies have implemented machine learning solutions to solve administrative and operational hurdles businesses encounter every day. While many machine learning products remain conceptual, machine learning tools are increasingly being adopted by companies worldwide. A number of machine learning companies entered their fourth or even fifth series of funding deals in 2022 and we are starting to see more tangible products, driven by machine learning algorithms, enter the market. With that in mind, let's look at the 10 biggest funding rounds achieved in the machine learning space in 2022, according to research firm GlobalData.

Artificial intelligence (AI) is currently one of the most disruptive technologies, and it is a great means for startups to achieve their hyper-growth goals. Artificial intelligence has numerous applications in fields such as big data, computer vision, and natural language processing, and is revolutionizing businesses, industries, and people's lives. Among the most well-funded and promising independent startups, the majority of the top Artificial Intelligence companies are from the US or China, with many more countries participating. The benefits of AI in many industries are evident in these two key countries, but each country seems to have slightly different concerns. The largest AI startups in the U.S. are particularly present in the areas of big data analytics and process automation for business, autonomous driving and biotechnology.

In April 2021, CB Insights announced our fifth annual AI 100 -- a list of the 100 most promising AI startups across the globe. We take a look at where these companies are now. In 2021, CBI analysts parsed through over 8,000 AI startups to determine the 100 most promising private AI companies. The winning cohort worked on a wide array of applications, from drug R&D and hospital revenue cycle management to autonomous beekeeping and municipal waste sortation -- highlighting the breadth and depth of AI's impact across industries. Get an excel file with the entire AI 100 list including each company's total funding, focus area, and more.

We are excited to bring Transform 2022 back in-person July 19 and virtually July 20 - 28. Join AI and data leaders for insightful talks and exciting networking opportunities. Organizations are increasingly adopting AI-enabled technologies to address existing and emerging problems within the enterprise ecosystem, meet changing market demands and deliver business outcomes at scale. Shubhangi Vashisth, senior principal research analyst at Gartner, said that AI innovation is happening at a rapid pace. Vashisth further noted that innovations including edge AI, computer vision, decision intelligence and machine learning will have a transformational impact on the market in coming years. However, while AI-powered technologies are helping to build more agile and effective enterprise systems, they usher in new challenges. For example, Gartner notes that AI-based approaches if left unchecked can perpetuate bias, leading to issues, loss of productivity and revenue.

In a decade, AI has gone from being a futuristic concept to being commonplace in our lives. Creative innovation has as of now changed the manner in which we accomplish everything from work to dating. As AI proceeds to advance and track down new applications, it will turn out to be a higher priority than any time in recent memory for organizations to stay aware of the most recent turns of events. Computers are now smarter than ever. This development has led to many new AI startups. These startups are using artificial intelligence in innovative ways, expanding the possibilities of what these programs can do.

China's startup ecosystem, which produced several world-leading companies, has been in the news in the recent past about the impact of the government regulations on the big technology firms. However, despite the regulatory shakeups and the COVID-19 pandemic notwithstanding, China has emerged as a powerhouse for artificial intelligence (AI) unicorns, according to Thematic Research at GlobalData, a leading data, and analytics company. GlobalData's research shows that of the total of 45 AI unicorns globally, China has the biggest share with 19 unicorns headquartered in the country. These 19 unicorns are collectively valued at $43.5bn. Priya Toppo, Analyst of Thematic Research at GlobalData, comments: "China is a leading player in AI, with a number of established companies such as Baidu, Hikvision, iFlytek, Tencent, and Alibaba. The country also has a strong AI startup ecosystem, which is evident from the large number of AI unicorns (privately held startup valued at $1bn or more)."

Artificial Intelligence funding has been the talk of the town off late. With the rising demand for the advanced technological requirements in possibly everything that one can think of, higher is the number of AI companies flourishing in the market. Considering how crucial AI as a technology is, AI firms receive huge financial support. That being said, here are some of the top AI funding in the last three months. Relativity Space, an aerospace company that designs, develops, and builds 3D printed rockets, has raised a whopping total of $1.3B in funding over 6 rounds. Their recent funding was the one with $650 million that was raised on 8 June 2021.

In May of last year, Covariant announced that it had raised a $40 million Series B. It was a healthy sum of money for the young company, bringing its total funding up to $67 million. Just a little over a year later, the Berkeley-based AI startup is adding another $80 million to its coffers, riding on a wave that dramatically accelerated interest in robotics and AI during the pandemic. "Companies across multiple industries had already been looking to realize significant gains with AI robotics and with COVID-19, market demands then increased by an order of magnitude," president, chief scientist and co-founder Pieter Abbeel tells TechCrunch. "Combining this with our last year of successes, our investors are keen to double down. We'll use the funding to significantly accelerate our global expansion and grow our current lead in a competitive industry."

The insurance industry was at a standstill before the development of insurtech – now the field has been revolutionised, with old insurance companies having to digitise or fear being left behind. Founded: New York, NY – 2015. Lemonade is a provider of a peer-to-peer insurance platform designed for renters and homeowners. It is powered by artificial intelligence and behavioral economics and utilizes bots and machine learning to create an insurance experience. However, as of April 2021, Lemonade has announced its plans to branch out into other insurance lanes as it aims to be a one-stop-shop.

The AI 100 is CB Insights' annual list of the 100 most promising private AI companies in the world. This year's winners are working on solutions including AI transparency, climate risk, virus modeling, and more. Get an excel file with the entire AI 100 list including each company's total funding, focus area, and more. CB Insights has unveiled the winners of the fifth annual AI 100. This year's cohort of promising private AI companies represents 12 countries and is driving innovation across 18 industries and a broad range of cross-industry applications.