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Data is at the core of today’s digital revolution, but its refinement processes have become points of differentiation for enterprises. As companies convert raw data into actionable insights, artificial intelligence signals a burgeoning ecosystem of management models. It’s a startup haven of sorts, with cloud native newcomers attributing success to the scalability of modern computing.
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.