Al funding grew 592% in four years

During the second quarter of this year, the artificial intelligence startups brought in $7.4 billion in funding, the single highest amount ever in a quarter, according to CB Insights. The number of deals grew as well, rising in step with the money raised. There were 488 artificial intelligence deals, the second-highest number in a given quarter.

Some companies brought in stellar funding rounds, grossing over $100 million in a single deal. During the most recent quarter, eight of the top ten of those heavy-hitting companies were in the United States. Despite this, for the first time, the United States made up less than half of all AI startup funding deals. In 2013, about three quarters of artificial intelligence deals went to companies in the United States. As of this year, that number dropped to 40 percent. International AI startups have been supported in the EU and China by enhanced efforts to expand government AI initiatives.

Overall, artificial intelligence startups are being supported immensely by the venture capital industry. In the first quarter of 2015, artificial intelligence startups collectively brought in just over $1 billion. The record amount that companies collected this quarter means that funding grew by about 592 percent in just four years. Analysts expect commercial AI systems to expand significantly within the next five years or so, while enterprise artificial intelligence solutions are forecasted to have a slower adoption rate.