THE EFFICIENCY OF VENTURE CAPITAL INVESTMENTS IN ARTIFICIAL INTELLIGENCE DEVELOPMENT

The study is devoted to a broad analysis of the performance of venture financing of projects in the field of artificial intelligence. Against the backdrop of the rapid expansion of the AI market and the intensification of competitive struggle, traditional approaches to evaluating return on investment (ROI) reveal limitations, as they do not account for deferred technological and market effects. The aim of the article is to assess venture investments in the field of AI, taking into account not only traditional financial indicators but also technological, market, and ecosystem aspects. As the methodological basis, systemic analysis of specialized publications, data from leading analytical agencies, as well as methods of comparative analysis and economic-mathematical modeling were used. As a result, an integrated effectiveness evaluation model (Integrated Effectiveness Index, IEI) is described, including four key coefficients: capital return, technological progress, market penetration, and ecosystem impact. A conclusion is formulated that the proposed approach enables investors and stakeholders to build a more objective and strategically sound understanding of the true value of venture capital investments in breakthrough AI technologies. The work will be useful for venture funds, executives of technology companies, analysts, and researchers in the field of innovation economics.