BULGARIAN ECONOMY
First report on the growing Artificial Intelligence sector in Bulgaria
SeeNews just published its new study titled Artificial Intelligence Ecosystem in Bulgaria, developed in collaboration with the international innovation company Vangavis.
The Artificial Intelligence Ecosystem in Bulgaria is the first comprehensive report, covering the growing AI sector in Bulgaria.
Key points from the report:
- The growing popularity of AI technologies is creating a startup wave in the country.
- Retail, finance and media industries lead the way in terms of AI implementation in Bulgaria with over 30 local companies developing solutions for these sectors.
- A total of 47 companies develop or use AI in Bulgaria, of which 32 are startups and scaleups, while 15 are national and international corporations.
- The sector employs over 3,000 people; AI-related jobs account for 3% of the total developer job market in Bulgaria.
- AI developers swung to a combined net profit of EUR 17.2 million (USD 19.4 million) in 2017, on revenue of EUR 206.9 million.
According to the report, Bulgaria’s AI startup ecosystem is still at an early stage of its development but has gained a significant momentum in the past few years, as around one-third of all companies researched for the report were established in the 2016-2018 period.
The report is available for free download at https://reports.seenews.com.
Source: Sofia Investment Agency
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