The last year saw AI technology development take a leap forward. With it is coming massive interest from investors and governments alike as technologies such as deep learning, neural networks, and automated decision making are poised to disrupt nearly every industry.
While AI startups are locked in a digital arms race, regulators are left trying to catch up on how to manage the risks of this holy grail of technology. Autonomous machines making decisions challenge fundamental legal principles such as negligence and will reshape concepts of ethics and privacy.
Meanwhile the collective systematization of cognitive bias into data sets has given rise to algorithmic justice and concerns over institutionalizing discrimination, and exacerbating inequality. No doubt the acceleration of AI technologies will bring myriad challenges for policy leaders, national security measures, legal institutions, and labor forces.
Funding to artificial intelligence startups is soaring. Last year, VCs invested a record $9.3B into US AI startups — more than 8x funding levels just 5 years prior ($1.1B in 2013). In 2018, the top 3 states for AI deals were California (48% of deals), New York (12%), and Massachusetts (9%), though investors have bet on AI startups across the country.