29 january 2019
The ICU Group discussed artificial intelligence in Davos

The ICU Group discussed artificial intelligence in Davos

The experts at the forum in Switzerland have discussed the impact of artificial intelligence on the future. The panelists have highly appraised Ukraine’s technological potential.

Within the work of Ukraine House Davos, the ICU group held a panel discussion about artificial intelligence, its impact on the future of society and world economy, and promising inventions of Ukrainian IT-companies.

ICU presented the statistics: if in 2013 the total volume of global investments in artificial intelligence amounted to 1.8 billion US dollars, then already in 2017 the investors put 15 billion US dollars in this field. The autogiant Ford alone plans to invest $1 billion in artificial intelligence within 5 years. The aim of this investment is to create a virtual system of operating a self-driving car that Ford launches by 2021.

One of the main drivers for development of artificial intelligence is Big Data.

“90% of the global Big Data was received in the last few years. The data comes from social media, various digital programs, mobile apps, etc. The speed of acquisition of data, its volume and accuracy check are too great of a burden for human resources; that is where the realm of algorithms and artificial intelligence begins”,  said Imtiaz Adam,  the founder and CEO of Deep Learn Strategies, a startup in machine learning.

Another advantage of technologies in comparison with human capabilities was brought up by Joe Landon, the Vice-President of Lockheed Martin, where he is in charge of space exploration using artificial intelligence.

“Today space exploration is impossible without artificial intelligence. If you operate a spaceship, you can’t do it manually in real-time mode, for example, during docking or landing. By the time your sent radio signal reaches the object from the Earth, everything will already happen. These operations are conducted by artificial intelligence that the spaceship is equipped with”, said  Landon.

In Ukrainian House Davos the panelists have highly appraised Ukraine’s technological potential, emphasizing that the country can become a powerful player on the global startup market. Ukraine is already one of the biggest global providers of IT-outsourcing services and has the highest number of developers in Europe.

“I have access to practically all Eastern-European countries, but Ukrainian entrepreneurs are different; they are fearless, they want to change the world”,  said Alexandra Johnson, the founder and operating director of Global Technology Capital, one of the most active investors in technological inventions in Post-Soviet countries from the Silicon Valley.

According to ICU, the annual export volume of IT-services in Ukraine is over $3 billion. Many of the developers, having strong mathematical background and experience of working with the Western countries, create startups in Ukraine that later acquire global acclaim. However, the supply of promising projects in the country is much higher than the demand.

“We continue investing in Ukrainian technological startups and believe that the Davos panel is a great opportunity to attract global interest to this niche. Investors find out more and more about the country’s potential in terms of new technologies and are ready to enter our market”, concluded Roman Nikitov, co-director of the department of ICU venturing investments.

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