In a rapidly expanding artificial intelligence market, the United States has emerged as the clear frontrunner for AI startups, while the United Kingdom finds itself trailing in eleventh place, according to a recent study by AIPRM.
The global AI industry, currently valued at approximately $214.6 billion, is projected to reach $1,339.1 billion by 2030. Against this backdrop of explosive growth, AIPRM’s analysis reveals a competitive landscape shaped by factors such as newly funded companies, private investment, and hiring rates.
The United States secured the top position with a score of 85.97 out of 100, boasting 5,509 newly funded AI companies and a staggering $335.2 billion in private investment over the past decade. This far outpaces other countries in the study.
Singapore claimed the second spot with a score of 84.36, distinguished by its impressive 18.93% AI hiring rate—the highest in the study. Despite having only 193 newly funded AI companies, Singapore’s focused growth strategy appears to be paying dividends.
Sweden rounded out the top three with a score of 84.07, showcasing remarkable revenue growth of 1,127% in the AI sector. However, Sweden’s tally of 94 newly funded AI companies was among the lowest in the study.
The United Kingdom, despite its reputation as a tech hub, ranked eleventh overall with a score of 66.41. The UK has seen 727 newly funded AI companies and approximately $22.3 billion in investment over the past decade. However, its relative AI hiring rate of 8.57% lags significantly behind leader Singapore.
Christoph C. Cemper, founder of AIPRM, offered advice for entrepreneurs looking to enter the AI space. “Starting up in AI is becoming increasingly competitive,” Cemper noted. He emphasized the importance of market research, a strong business model, and assembling a skilled team to navigate the complex AI landscape.
As the AI market continues its rapid expansion, these rankings offer a snapshot of the current state of play in a field that is reshaping industries worldwide. The disparity between leaders and laggards suggests there may be significant opportunities for countries to improve their standing in this crucial sector.
Full data HERE