40% of European "A.I. startups" don't actually use A.I.
Very consistent with my experience talking to U.S. "retail A.I." startups. Scratch beneath the surface, ask the retail A.I. startup pitching you about what specific machine learning algorithms or natural language processing techniques are being used, and what specific retail problems they are being leveraged to solve - and you might be surprised. If the startup can't give you a specific technique or describe the detailed retail use case, it's probably not AI.
“We looked at every company, their materials, their product, the website and product documents,” says David Kelnar, head of research for MMC, which has £300 million ($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.”