AI Insights - What About Private Sector Interest in AI?

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base-card--link base-main-card flex flex-wrap py-2 pr-2 babybear:pr-0 base-main-card--link publisher-author-card"> <a class="base-card__full-link absolute top-0 right-0 bottom-0 left-0 p-0 z-[2]" href="https://ch.linkedin.com/company/edmond-de-rothschild" data-tracking-control-name="article-ssr-frontend-pulse_publisher-author-card" data-tracking-will-navigate> <span class="sr-only"> Edmond de Rothschild </span> </a> <img class="inline-block relative w-6 h-6 " data-delayed-url="https://media.licdn.com/dms/image/v2/C4E0BAQF3Nr5XjmUVhw/company-logo_100_100/company-logo_100_100/0/1630645663245/edmond_de_rothschild_logo?e=2147483647&v=beta&t=q-HjczazV0pUwcXRNYFHuODLpuUEHkJDCp8pEzO_1WU" data-ghost-classes="bg-color-entity-ghost-background" data-ghost-url="https://static.licdn.com/aero-v1/sc/h/cs8pjfgyw96g44ln9r7tct85f" alt="Edmond de Rothschild"> <div class="base-main-card__info self-center ml-1 flex-1 relative break-words papabear:min-w-0 mamabear:min-w-0 babybear:w-full ">  <h3 class="base-main-card__title font-sans text-[18px] font-bold text-color-text overflow-hidden "> Edmond de Rothschild </h3> <h4 class="base-main-card__subtitle body-text text-color-text overflow-hidden "> We never forget that you entrust us with what you hold most precious. </h4>  <div class="body-text text-color-text-low-emphasis base-main-card__metadata"> Published Jul 11, 2023 </div>  </div> <div class="base-main-card__ctas z-[3] self-center ml-3 babybear:ml-1 babybear:self-start"> <a class="base-main-card__cta btn-sm btn-secondary" href="https://www.linkedin.com/signup/cold-join?session_redirect=%2Fpulse%2Fai-insights-what-private-sector-interest-edmond-de-rothschild&trk=article-ssr-frontend-pulse_publisher-author-card" data-tracking-control-name="article-ssr-frontend-pulse_publisher-author-card" data-tracking-will-navigate> + Follow </a> </div> </div> </div> </section> </header> <div data-test-id="article-content-blocks">  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <span class="font-[700]">Interest in AI has grown considerably in recent years</span><span class>, in both the public and private sectors, due to the many potential applications and benefits in terms of efficiency, performance, time savings and productivity. According to the consulting firm McKinsey & Co, AI adoption in the private sector has doubled in the last 5 years, while investments are increasing at an even faster rate. According to a study by Stanford University's AI Index, global corporate investment has grown from $5.2 billion in 2013 to $177 billion in 2021, an average annual growth rate of 55%.</span> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <h3><span class>Investments in the AI sector by companies at the global level, since 2013, in USD billion</span></h3> </div>  <div class="flex flex-col mt-2" data-test-id="publishing-image-block" rel="ugc"> <figure> <img alt="No alt text provided for this image" class="lazy-load block w-full" data-delayed-url="https://media.licdn.com/dms/image/v2/D4E12AQHuvpEMV8Y6mw/article-inline_image-shrink_1000_1488/article-inline_image-shrink_1000_1488/0/1689080980467?e=2147483647&v=beta&t=Wy0YY7VHBAKMjrxL1O50yRUS1ho74HC7sGH-x1w2lmM"> <figcaption class="mt-[0.8rem] text-center text-sm font-normal text-color-text-low-emphasis" data-test-id="publishing-image-block-caption"> <span class>Source: Stanford University, Edmond de Rothschild</span> </figcaption> </figure> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <span class="font-[700]">Many companies are investing heavily in AI</span><span class> to improve their processes, services and products, given the transformative potential of AI in many sectors to generate significant competitive advantages. Large technology conglomerates such as Google, Microsoft, Meta or IBM, are dedicating billions of dollars to the development of AI. Google acquired an AI startup, DeepMind, in 2014 for $600 million, which also developed the first AI model to beat the world champion in the game of Go, as well as the AI model AlphaFold, capable of accurately predicting the structure of proteins. Microsoft has invested more than $10 billion in OpenAI, the developer of the generative AI model ChatGPT, and is already starting to integrate AI features into its products and services.</span> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <span class>Moreover, </span><span class="font-[700]">the private sector has surpassed the academic sector in terms of AI development</span><span class>, notably enabling the expansion and progress in AI over the past several years. According to the Stanford University General AI Report, the vast majority of AI models based on machine learning were developed by the academic sector until 2014. Since then, the private sector has overtaken the academic sector: by 2022, of the 32 machine learning-based AI models released, only 3 were of academic origin. According to Stanford, "Creating cutting-edge AI systems increasingly requires large amounts of data, computing power, and capital - resources that private actors inherently possess in higher quantities than academics."</span> </p> </div> <div class="inline-articles bg-color-surface-new border-hidden rounded-sm p-1 mx-auto my-1.5 mamabear:w-2/3 inline-articles__after"> <h2 class="text-xl font-medium ml-1.5 my-1 text-color-text mamabear:text-center">Recommended by LinkedIn</h2> <div class="flex flex-wrap mx-0.5 babybear:mx-1.5"> <div class="content-author-card flex flex-col max-w-[270px] h-auto rounded-md border-1 border-system-gray-30 border-solid pb-1.5 inline-article mx-auto my-1 border-hidden papabear:w-[219px] babybear:min-w-full mamabear:min-w-full h-auto bg-color-canvas-tint"> <a class="no-underline" data-tracking-control-name="inline-recommended-articles" data-tracking-will-navigate href="https://www.linkedin.com/pulse/generative-ai-business-why-accenture-investing-3-billion-bernard-marr"> <img class="content-image w-full h-[150px] bg-cover rounded-t-md object-cover" data-delayed-url="https://media.licdn.com/dms/image/v2/D4E12AQFzJrCckh0zjA/article-cover_image-shrink_600_2000/article-cover_image-shrink_600_2000/0/1692080766658?e=2147483647&v=beta&t=TNcTsH0Vvr8qeINj4A-x6sFlXP8QOeWB1Dd0PKXuDCQ"> <div class="inline-article-title text-md text-color-text font-bold pl-2 pt-1 pr-1.5">Generative AI In Business: Why Accenture Is Investing…</div> <div class="inline-article-meta px-2 mt-1 font-sans text-xs font-normal text-color-text-low-emphasis h-full"> <span class="inline-article-author pt-0.5"> Bernard Marr </span> <span class="before:middot pt-0.5 inline-article-published-date"> 1 year ago </span> </div> </a>  </div> <div class="content-author-card flex flex-col max-w-[270px] h-auto rounded-md border-1 border-system-gray-30 border-solid pb-1.5 inline-article mx-auto my-1 border-hidden papabear:w-[219px] babybear:min-w-full mamabear:min-w-full h-auto bg-color-canvas-tint"> <a class="no-underline" data-tracking-control-name="inline-recommended-articles" data-tracking-will-navigate href="https://www.linkedin.com/pulse/generative-ai-impact-us-all-tdsynnex"> <img class="content-image w-full h-[150px] bg-cover rounded-t-md object-cover" data-delayed-url="https://media.licdn.com/dms/image/v2/D5612AQEZFMinJROVDQ/article-cover_image-shrink_720_1280/article-cover_image-shrink_720_1280/0/1684342253880?e=2147483647&v=beta&t=TQHsKcqXlL-as6N9Y5SO3Fmvo6CAuntJUpcYN9pid4I"> <div class="inline-article-title text-md text-color-text font-bold pl-2 pt-1 pr-1.5">Generative AI Will Impact Us All</div> <div class="inline-article-meta px-2 mt-1 font-sans text-xs font-normal text-color-text-low-emphasis h-full"> <span class="inline-article-author pt-0.5"> TD SYNNEX </span> <span class="before:middot pt-0.5 inline-article-published-date"> 1 year ago </span> </div> </a>  </div> <div class="content-author-card flex flex-col max-w-[270px] h-auto rounded-md border-1 border-system-gray-30 border-solid pb-1.5 inline-article mx-auto my-1 border-hidden papabear:w-[219px] babybear:min-w-full mamabear:min-w-full h-auto bg-color-canvas-tint"> <a class="no-underline" data-tracking-control-name="inline-recommended-articles" data-tracking-will-navigate href="https://www.linkedin.com/pulse/unveiling-black-box-how-explainable-ai-makes-decisions-emmanuel-ramos-npozc"> <img class="content-image w-full h-[150px] bg-cover rounded-t-md object-cover" data-delayed-url="https://media.licdn.com/dms/image/v2/D5612AQHK8kHCYigiYg/article-cover_image-shrink_720_1280/article-cover_image-shrink_720_1280/0/1710379229891?e=2147483647&v=beta&t=216-0VwlkwuGLptyHW2Yeruu9qqYFOf3nln_14xlwM4"> <div class="inline-article-title text-md text-color-text font-bold pl-2 pt-1 pr-1.5">Unveiling the Black Box: How Explainable AI Makes AI…</div> <div class="inline-article-meta px-2 mt-1 font-sans text-xs font-normal text-color-text-low-emphasis h-full"> <span class="inline-article-author pt-0.5"> Emmanuel Ramos </span> <span class="before:middot pt-0.5 inline-article-published-date"> 6 months ago </span> </div> </a>  </div> </div> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <h3><span class>Which industries are favoured by private companies for the application of AI?</span></h3> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <span class>Looking at the investments made in the private market (unlisted companies) between 2017 and 2021 - representing close to $240 billion - several sectors appear at the top of the list. Medical applications and healthcare come first, accounting for $29 billion, followed by cloud and data management in second place ($27 billion), fintech ($25 billion) and the retail sector ($22 billion).</span> </p> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <h3><span class>AI investments in the private market by application area, from 2017-2021, in USD billion</span></h3> </div>  <div class="flex flex-col mt-2" data-test-id="publishing-image-block" rel="ugc"> <figure> <img alt="No alt text provided for this image" class="lazy-load block w-full" data-delayed-url="https://media.licdn.com/dms/image/v2/D4E12AQFvoTGmqc67MQ/article-inline_image-shrink_1000_1488/article-inline_image-shrink_1000_1488/0/1689081579323?e=2147483647&v=beta&t=mN_0f2AmXH5-Z1uv04QuLQVzbd5-qES1GEnO0fnDgW4"> <figcaption class="mt-[0.8rem] text-center text-sm font-normal text-color-text-low-emphasis" data-test-id="publishing-image-block-caption"> <span class>Source: Stanford University, Edmond de Rothschild</span> </figcaption> </figure> </div>  <div class="article-main__content" data-test-id="publishing-text-block"> <p> <br> </p> </div>  </div>   </article>  <code id="ugcPostUrl" style="display: none"></code> <code id="ugcPost" style="display: none"></code> <code id="disableLinkedinShareRedirectLink" style="display: none"></code> <code id="ugcPostUrn" style="display: none"></code> <code id="signInUrl" style="display: none"></code>  <div class="article-social-activity z-[201] x-social-activity-wrapper xs:sticky bottom-0 flex justify-center border-t-1 border-solid border-color-border-faint bg-color-background-container " data-impression-id="article-ssr-frontend-pulse_x-social-details">  <div class="x-social-activity social-details x-social-activity-left flex flex-wrap w-full max-w-x-article-width-small justify-between lg:max-w-x-article-width"> <div class="flex x-social-activity-left flex-wrap"> <code id="i18n_reaction_selection_state" style="display: 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data-num-comments="1" data-singular="%numComments% Comment" data-plural="%numComments% Comments" data-entity-urn="urn:li:ugcPost:7084523492930379776"> 1 Comment </a>  </div> </div> </div> <div class="comments__container"> <div class="comments">   <section class="comment flex grow-1 items-stretch leading-[16px] comment-with-action my-1.5"> <div> <a href="https://fr.linkedin.com/in/kamal-benihoud-942b2417/en?trk=article-ssr-frontend-pulse_x-social-details_comments-action_comment_actor-image" data-tracking-control-name="article-ssr-frontend-pulse_x-social-details_comments-action_comment_actor-image" data-tracking-will-navigate> <img class="inline-block relative rounded-[50%] w-4 h-4 " data-delayed-url="https://media.licdn.com/dms/image/v2/D4E03AQGnH3BUROW7tw/profile-displayphoto-shrink_400_400/profile-displayphoto-shrink_400_400/0/1702656098467?e=2147483647&v=beta&t=-BLrwPSZp3vw22ED72hSFZAkyigEOrY6hDZYcIZaP7A" data-ghost-classes="bg-color-entity-ghost-background" data-ghost-url="https://static.licdn.com/aero-v1/sc/h/9c8pery4andzj6ohjkjp54ma2" alt="Kamal BENIHOUD"> </a> </div> <div class="w-full min-w-0"> <div class="comment__body ml-0.5 mb-1 pt-1 pr-1.5 pb-1 pl-1.5 rounded-[8px] rounded-tl-none relative"> <div class="comment__header flex flex-col"> <a class="text-sm link-styled no-underline leading-open comment__author truncate pr-6" href="https://fr.linkedin.com/in/kamal-benihoud-942b2417/en?trk=article-ssr-frontend-pulse_x-social-details_comments-action_comment_actor-name" data-tracking-control-name="article-ssr-frontend-pulse_x-social-details_comments-action_comment_actor-name" data-tracking-will-navigate> Kamal BENIHOUD </a> <p class="!text-xs text-color-text-low-emphasis leading-[1.33333] mb-0.5 truncate comment__author-headline"></p> <span class="text-xs text-color-text-low-emphasis comment__duration-since absolute right-6 top-1 inline-block"> 1y </span> <div class="ellipsis-menu absolute right-0 top-0 !mr-0.5 babybear:!-top-0.5" 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border-t-1 border-solid border-color-border-low-emphasis first-of-type:border-none flex"> <a href="/uas/login?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Fpulse%2Fai-insights-what-private-sector-interest-edmond-de-rothschild&trk=article-ssr-frontend-pulse_x-social-details_comments-action_comment_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=COMMENT&_f=guest-reporting" data-tracking-control-name="article-ssr-frontend-pulse_x-social-details_comments-action_comment_ellipsis-menu-semaphore-sign-in-redirect" data-tracking-will-navigate data-item-type="semaphore" data-semaphore-content-type="COMMENT" data-semaphore-content-urn="urn:li:comment:(urn:li:ugcPost:7084523492930379776,7086838215461986305)" data-semaphore-tracking-prefix="article-ssr-frontend-pulse_x-social-details_comments-action_comment_ellipsis-menu-semaphore" data-is-logged-in="false" data-modal="semaphore__toggle" class="semaphore__toggle visited:text-color-text-secondary ellipsis-menu__semaphore ellipsis-menu__item-button flex items-center w-full p-1 cursor-pointer font-sans text-sm font-bold link-styled focus:link-styled link:no-underline active:bg-color-background-container-tint focus:bg-color-background-container-tint hover:bg-color-background-container-tint outline-offset-[-2px]">  <icon class="ellipsis-menu__item-icon text-color-text h-[24px] w-[24px] mr-1" data-delayed-url="https://static.licdn.com/aero-v1/sc/h/iq0x9q37wj214o129ai1yjut"> </icon> Report this comment </a>  </li>  </ul>  </div> </div> </div> <div class="attributed-text-segment-list__container relative mt-1 mb-1.5 babybear:mt-0 babybear:mb-0.5"> <p class="attributed-text-segment-list__content text-color-text !text-sm whitespace-pre-wrap break-words comment__text babybear:mt-0.5" dir="ltr">AI is just a support with the different points I built before for identificating and detecting if the persons are dangerous or not ... It is like facial recognition which is present to the different Head Up Display on a paper-board which is accompanied with a pencil. Water system is the different elements that proved a lot of realization by the way... </p>  </div>   </div> <div class="comment__actions flex flex-row flex-wrap items-center ml-2" aria-label="Comment Controls"> <a href="https://www.linkedin.com/signup/cold-join?session_redirect=%2Fpulse%2Fai-insights-what-private-sector-interest-edmond-de-rothschild&trk=article-ssr-frontend-pulse_x-social-details_comments-action_comment_like" class="comment__action inline-block font-sans text-xs text-color-text-low-emphasis cursor-pointer" data-tracking-control-name="article-ssr-frontend-pulse_x-social-details_comments-action_comment_like" data-tracking-will-navigate> <div class="flex flex-row items-center "> <icon class="action-btn__icon w-2 mr-0.5" data-svg-class-name="action-btn__icon--svg" data-delayed-url="https://static.licdn.com/aero-v1/sc/h/70k0g8kmgdfjjymflqqzipzxj"> </icon> <span class="action-btn__button-text inline-block align-baseline"> Like </span> </div> </a> <span class="before:middot 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