NAIC Part 3 (IGS): Future of AI Investments and Their Consequences?

October 5, 2020 - Part 3 of Aco Momcilovic's National AI Capital Global Survey.

Difference between where the money is invested and where it should be

The expectation is that most of the AI development will come from the Corporations, and the least from the Governments of different countries, according to the //medium.com/@acomomcilovic/naic-part-2-of-initial-global-survey-will-uneven-development-of-ai-a-cause-even-bigger-chasm-916afdfcc265">second NAIC Report. We discussed the dangers of the development of AI projects by only one stakeholder, and this report we will consider those potential consequences even deeper.

In this third part of NAIC IGS, we will answer the questions about areas of AI that are getting most of the investments currently, and about desires and estimates in which areas we should invest in the future, and to do it as fast as possible.

In general, it is clear that investments in AI are growing almost exponentially on the world level. Data is very clear in the leading countries responsible for AI development, as we can see in the example of the USA. And that exponential growth will continue in the next years.

The first question in this segment was — Where will countries invest the most of their resources, and in the shortest period of time?

We got the following answers: Top areas predicted to get investments are — Healthcare, Security, and Finance. The least invested segment is in the area of Education.

This observation was made on observed facts from experts in different countries. The list of area could be longer or structured differently, but this gets a general notion.

Many of those investments are in the Start-ups, who are also getting more and more funding. Many of them are created — based on the information about investment areas that are popular.

The second question was about where SHOULD countries invest, and in their opinion what are the strategic areas that should be taken care of.

And results are the following: Healthcare is still the first, followed by Education and Security. Marketing is in the last position.

If we consider the investments on the dimension that has Impact on Society on one side and Generation Profit on the other side, it sounds reasonable that countries should be at least a bit on the Impacting Society side. So far, it is obvious that most investments are made in the areas that could generate profit fastest. Even healthcare as an industry that is privatized in many countries could be estimated to have a central position on the mentioned axis. Finance, Business Intelligence, Customer Experience, and Marketing are all mostly profit-driven areas. Security also, depending on the country, could be a strategic area close to Impact the Society, but can be also very close to the Generation Profit side, depending on the number of private contractors.

It is interesting to compare segments of Education and Marketing. According to other researches, Education is at the moment underfunded. Is it because it needs a longer period to show results, or some other factors are influencing it, is the question. Also, the area of Marketing is considered to be the last one that countries should invest in.

It is compared in this table:

Education obviously is one very important segment of AI development, that can create an enormous amount of added value, as I wrote in my article about //medium.com/@acomomcilovic/ai-education-system-what-can-we-expect-and-hope-for-in-croatia-e8491aa6716e">AI Education Systems.

The education segment has also some other issues — like low adoption at the moment — sharing 10th place with Healthcare.

But even more important question for all working in the AI field, and those who will reap the consequences of AI development, is who will invest in the future, and based on what priorities, values, and criteria. At the moment, corporations are leading the game, and start-ups are trying to join the race. Governments and State level actors are still a bit sleeping in this extremely important area. And that could have significant long-term consequences.

A new company that has supported the NAIC Global Survey is Blackchain.

In this part, we discussed differences between where the money is invested today, and where should it be in the future. In the next part we will discuss the details of the NAIC definition and methodology.

COOPERATION: For the second phase we will enlarge the number of

academic institutions,

AI/tech associations,

companies that are willing to sponsor/participate and contribute

media who will become partners will get new data and articles first

If you are interested in collaboration, in any of those segments — contact me on

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Donations

If you want to support further this project and share your enthusiasm, be free to donate symbolic amounts of Ethereum (ETH) to this address: 0x29e574B5A65e1d7De2B177b53996A26A6729514F

To read more from Aco and the rest in this series, click here.