Ireland’s AI ecosystem is booming. That is the message that was broadcast loud and clear this week as the International AI Summit rolled into town.
Nearly €1 billion has been invested in Irish AI companies across 182 deals since the beginning of 2025, according to Enterprise Ireland.
Pitchbook’s latest figures found the amount invested in Irish AI companies by venture capital firms this year was at a near record, at €256 million across 75 deals so far.
On the face of it, it looks like a decline given that 2025 recorded €691.3 million across 107 deals.
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But Pitchbook’s report highlighted 2025’s blockbuster performance, when Wayflyer raised almost €162 million, and Tines grabbed close to €121 million in a series C round of funding. The most recent figures for 2026 represent a “normalisation rather than retreat”.
While the money may be rolling in with AI, support for it among workers may be a tougher sell. Attendees at the AI Summit on Wednesday were greeted by protesters loudly objecting to the growth of the technology. Earlier in the week, an event held by the Communication Workers’ Union heard of the narrowing opportunities for entry-level workers and the degradation of work, with staff employed to oversee the output of AI rather than creating on their own.
[ Entry-level hiring in AI-augmented sectors drops by 16%Opens in new window ]
That was followed by a survey from IDA Ireland that backed up the previously voiced threats to junior positions. The Labour Market Pulse for the second quarter of the year found a 16 per cent decline in entry-level hiring in occupations where AI is commonly used to augment human workers. That could lead to a situation where companies create their own future skills gap, as Christopher Paye, country director for the StepStone Group for Ireland, recently warned in an interview with The Irish Times.
If companies are not careful, they may find that in chasing an AI utopia, they have plenty of money to spend, but can’t get the experienced staff that will ultimately grow the company and help justify those significant funding rounds.
