Artificial Intelligence is taking Center Stage in Israel
4 December, 2018
More than 1,200 AI companies have been established in Israel since 2010. Their main focus is moving now from Computer Vision Technologies into Big Data and Data Science
Artificial Intelligence (AI) is one of the most expanding trends in Israel. According to IVC Research Center, more than 1,200 AI companies have been established since 2010, of which 79% are still active, 6% have been acquired, and 15% have ceased to operate. AI capital raising has grown significantly since 2013, and AI exits in the first half of 2018 were higher than for all of 2017.
IVC Research’s data shows that until 2013, computer vision technologies accounted for most of the development activity in Israeli AI companies. But since 2012, new technology trends appeared while Big Data and Data Science (data mining, statistical inference and predicting models) have gained more attention, bringing a new wave of innovation and has became a driver of growth in the last decade.
While there has been significant growth in all sectors, since 2014, IVC found an increase in the share of companies implementing data science and chatbots/robotics/assistant as part of the mix. However, the share of companies developing technologies related to computer vision, recommendation systems, and text analytics, is decreasing.
The researches found out that Israeli AI companies have been focused on seven main technologies: The biggest group (43% fo all companies) is of Data Science & Analytics focused mainly on statistical models for data mining and analysis. This group is represented by Gett, which has raised $597 million.
The second biggest group (20% of the companies) deals with Computer Vision: methods of acquiring, processing and analyzing digital images, and extraction of high-dimensional data. The leader of this group is Mobileye, that was sold to Intel for $15.3 billion.
The third group is far behing with 11% of the companies: Ut is focused on Chatbots, Robotics & Assistants, mainly dealing with the development of technologies based on computer imitating human interface and mobility.The largest raising in this group belongs to Lemonade with its $180 million funding.
The other areas of expertise are Sound Recognition & Analysis (10%), Text and Context Analytics (8%), Recommendation Systems (5%) and Unspecified Technologies (3%).