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The Emerging Israeli AI Landscape in 2024
- Israel has over 2,150 active AI firms, about 30% of the local tech sector and attracted over 60% of all capital.
- The country is ranked 3rd globally in private AI investment, it is a top performer in the global AI market.
- Vertical AI companies attract the largest Private funding in fraud detection in finance, predictive maintenance in manufacturing, and personalized shopping experiences in retail.
- Opportunities for start-ups in Israel are in developing solutions for industries with deep domain expertise.
- Cross-industry AI is robust with opportunities as there is a significant need for end-to-end enterprise solutions.
- Challenges abound with fierce talent competition, funding sustainability, strong global competition.
- Israel AI hub faces limited Government support, funding, data training Sandboxes, and regulatory frameworks are lacking.
- The country can maintain a competitive edge through continuous innovation and adaptation.
- Focus on strengths and addressing key challenges will establish Israel as a global AI hub.
- Building in the vertical and horizontal AI categories, startups such as Hour One, Munch, Vault AI and Playo are spearheading the way.
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