Artificial Intelligence has played an increasingly vital role in the global venture capital space over the past decade.
According to the Venture Capital in Africa Report 2024, investments directed toward AI have grown significantly, peaking in 2021 with a contribution of $702 billion.
This surge reflects AI’s transformation from a promising technology to a key driver of innovation and business growth.
While 2022 saw a dip to $468 billion, the steady investment through 2023 and 2024—at $305 billion and $314 billion respectively—shows continued interest and trust in AI’s potential.
Venture capital, often directed toward high-risk, high-reward startups, has clearly embraced AI as a valuable frontier.
