Best 5 countries leading in AI research & technology in 2024: Explained by Digimagg

Discover the top 5 countries pioneering AI research & technology in 2024 with insights from Digimagg.

May 13, 2024 - 15:41
May 14, 2024 - 06:51
Best 5 countries leading in AI research & technology in 2024: Explained by Digimagg
AI research

AI research is a global phenomenon, with countries worldwide actively engaged in exploring this technology, achieving breakthroughs, and attracting private investment. According to Stanford’s Artificial Intelligence Report 2023, global private investment in AI surged to $91.9 billion in 2022, a figure expected to reach $110.2 billion in 2023 and $158.4 billion in 2025. Notably, AI startups secured $42.5 billion across 2,500 equity rounds, with generative AI garnering 48% of total investment. Leading providers such as OpenAI, Anthropic, and Inflection AI saw significant investor interest.

In this article, we'll assess the top 10 countries in AI research and development based on rankings from the Global AI Index, Mirae Assets’s Global X AI investment survey, Stanford’s Artificial Intelligence Index Report, and CBInsights findings, analyzing their performance in terms of innovation, startup ecosystem, private investment, and government spending.

Best 5 countries leading in AI research & technology in 2024

1. United States

Currently, the United States leads the world in AI research, boasting a significant presence of top-tier AI researchers in both academia and industry, according to Macro Polo. Nearly 60% of these researchers are affiliated with American universities and companies. Additionally, Mirae Assets reports that private funding for AI ventures in the US has reached a staggering $249 billion.

Silicon Valley stands out as a hub for leading AI vendors such as OpenAI, Google, Meta, and Anthropic, contributing to flagship products like GPT-4, DALL E-3, Gemini, Llama 2, and Claude 3. Among these, GPT-4 has emerged as a standout, boasting 100 million weekly active users. In terms of investment, the US has seen robust AI funding, with $31 billion raised across 1,151 deals in 2023. Notably, Anthropic, Lightmatter, GreyOrange, and xAI secured the top deals. Moreover, the US government is actively supporting AI research, allocating $3.3 billion in 2022. Sam Altman's insights shared at the Davos World Economic Forum in January 2024 provide further insights into the US's pivotal role in AI development.

2. China 

China emerges as a significant player in AI research, boasting 11% of top-tier AI researchers (Macro Polo) and garnering 232 AI-related investments in 2023. Mirae Assets reports a substantial private investment of $95 billion between 2022 and 2023. Key players like Tencent, Huawei, and Baidu lead the country's AI innovation with releases such as Tencent’s Hunyuan’s large language model (LLM), Huawei’s Pangu with 1.085 trillion parameters, and Baidu’s Ernie AI model. China's government is also heavily investing in AI, with IDC projecting a $38.1 billion investment by 2027.

3. The UK

The UK has long been a frontrunner in the AI race, ranking as the third-largest AI market globally, valued at $21 billion. Notable contributions include AI startups like DeepMind and Darktrace. Government investment in R&D is increasing, with plans to allocate £400 million for chip and supercomputer development, including a £100 million investment in a supercomputer facility in Bristol.

4. Israel

Israel's tech landscape has positioned itself as a leader in AI development, attracting $11 billion in private investment between 2013-2022. The region hosts 144 generative AI-related startups, with notable organizations like Deep Instinct, Wordtune, and AI21 Labs. The Israeli government is also investing $8 million to advance AI app development in Hebrew and Arabic.

5. Canada

Canada emerges as a key player in AI research, with $2.57 billion invested in AI between 2022 and 2023, totaling $8.64 billion. The government commits over $124 million to foster responsible AI development, particularly at the Université de Montréal. Notable Canadian AI companies include Cohere, Scale AI, and Coveo.

In summary, while the US and China lead the AI race, global research indicates that AI development is a worldwide endeavor. Countries like Israel, the UK, France, Germany, India, Japan, and Singapore are making significant contributions to AI technology, demonstrating that innovation in this field is truly international.

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