Slashdot Mirror
40% of 'AI Startups' in Europe Don't Actually Use AI, Claims Report (forbes.com)
Two-fifths of Europe's AI startups do not use any AI programs in their products, according to a report that highlights the hype around the technology. From a report: Out of 2,830 startups in Europe who were classified as being AI companies, only 1,580 accurately fit that description according to the eye-opening stat on page 99 of a new report from MMC, a London-based venture capital firm. The label, which refers to computer systems that can perform tasks normally requiring human intelligence, was simply wrong.
"We looked at every company, their materials, their product, the website, and product documents," says David Kelnar, head of research for MMC which has $400 million under management and a portfolio of 34 companies. "In 40% of cases we could find no mention of evidence of AI." In such cases, he added, "companies that people assume and think are AI companies are probably not."
"We looked at every company, their materials, their product, the website, and product documents," says David Kelnar, head of research for MMC which has $400 million under management and a portfolio of 34 companies. "In 40% of cases we could find no mention of evidence of AI." In such cases, he added, "companies that people assume and think are AI companies are probably not."
Yes, correct, but besides the point.
The core problem is, that "AI" is generally associated with, you know, actual artificial intelligence.
But in reality, the "neural nets" that most "AI" companies use, are nothing more than weighted biasing of input data, simplified down to mere matrix manipulation. Wich is almost, bot not quite, entirely unlike real neural nets, which use spiking signal patterns, various different activation curves, have broadcastig abilities and many other features. Which is why these artificial ones require ten times the "neurons" even for simple pattern matching tasks, and outright fail at displaying anything that could be called intelligence. Nor are they usually used for such high purposes.
The whole thing is deliberately misleading. Because there is a buck to be made. Without actual honest work in return. And the thugs and gamblers just love that.
If someone says they have a rabbit, and they pull out a rabbit's foot would you agree with them?