Yes, you can do research in AI with low funds (but you need a lot of time!). Notably because AI is not the same as applied [machine learning][1] (indeed running ML programs on big data requires a lot of computer power). For example, [knowledge representation and reasoning][2] or [natural language processing][3] generally don't require a lot of computer power.

A lot of recent papers (probably most of them) in journals like  [*Artificial Intelligence*][4], or in conferences like [IJCAI][5] (see their [past proceedings][6]) are somehow theoretical, and when something is implemented, it runs on a laptop or desktop.

However, you'll better publish your software as free software or open source, and **you need a *lot* of time** (preferably full-time, or at least half-time) to do the research and follow outside progress in your area.

You can find interesting blogs (e.g. [the one of J.Pitrat][7]) of AI researchers working on just a laptop or a desktop.


  [1]: https://en.wikipedia.org/wiki/Machine_learning
  [2]: https://en.wikipedia.org/wiki/Knowledge_representation_and_reasoning
  [3]: https://en.wikipedia.org/wiki/Natural_language_processing
  [4]: https://www.journals.elsevier.com/artificial-intelligence/
  [5]: http://www.ijcai.org/
  [6]: https://www.ijcai.org/past_proceedings/
  [7]: http://bootstrappingartificialintelligence.fr/WordPress3/