A VC opportunity to watch
Predictive analytics and artificial intelligence could be for the SA market.
Marc Ashton | 18 August 2015 03:42
South Africa is distinctly different from the US technology markets in that the country does not have the size or scale to be able to develop high-growth consumer focused technology offerings which are highly disruptive to traditional players. However this should not preclude technology entrepreneurs from growing businesses in the business-to-business sector, particularly in the areas of artificial intelligence and data analytics.
This is according to Deborah Magid Director of Software Strategy for the IBM Venture Capital Group.
Magid – who has experience in both first-world and emerging markets – will be a headline speaker at the 2015 Knife Capital Exit Conference which will be hosted at the Sandton Convention Centre on 21 August 2015.
Pointing out that all industries from agriculture to banking are entering a new era in terms of technology, Magid tells Moneyweb: “The use of predictive analytics and machine learning in new kinds of business solutions is a very exciting trend right now. There are massive amounts of data being generated everywhere, by everything from sensors to social media, but what do you do with it?”
According to Venture Scanner they are currently tracking 852 businesses which broadly fit into the category of Artificial Intelligence across 62 countries across the globe and they have received $2.71 billion in venture capital funding to date.
Technology publishing giant Techcrunch points out that investments in artificial intelligence related businesses rose 300% year on year in 2014.
Cape-based entrepreneur Frans Struwig, who recently sold iKubu to US giant Garmin, also identifies artificial intelligence as an opportunity for local investors. He points to the health and wellness sectors as areas where he expects to see some quite significant innovation in the coming years.
Magid and Struwig are just two of a fascinating line-up of entrepreneurs, funders and industry experts who will be speaking at the 2015 Knife Capital Exit Conference. You can book your ticket online via Quicket.
Source: A VC opportunity to watch
Via: Google Alerts for AI