Global AI Investment Leaders Revealed: Who’s Ahead in the AI Race?

31/05/2024

RECENT reports suggest AI investments are predicted to approach $200 billion globally by 2025, with countries competing to enjoy the benefits artificial intelligence has on productivity and the economy. 

So, which countries have invested the most in AI between 2019 to 2023? AI statistics from AIPRM compared the investment of each country to find out who is leading the way in AI investment.

Key findings: 

  • The United States invests the most in AI, with a total of $328,548 million spent in the last five years. 
  • When looking at the investment relative to the country’s overall economic output (GDP), Singapore is leading in AI spending, with $15.01 for every thousand dollars of GDP –  16% more than the U.S investment (per thousand $GDP).
  • The United Kingdom comes third with a total of $25,541 million investment in AI over the past five years. When assessed against GDP, their spending is one-third less compared to U.S investment per thousand dollars of GDP. 

Top 10 countries with the most AI investment (2019 – 2023)

RankCountry2023 investments(millions USD)% of investment increase compared to 2019 Total investment in last 5 years (millions USD)
1United States67,91165.9%328,548
2China15,071-30.5%132,665
3United Kingdom3,5180.2%25,541
4India3,808261.3%16,147
5Germany1,808-11.2%14,300
6Canada2,06740.2%12,457
7South Korea2,102238.5%10,348
8France1,85374.7%10,185
9Sweden2,6032310.2%8,281
10Singapore1,928191.7%7,005

(Source: AIPRM via OECD and World Bank)

AI statistics from AIPRM, has found that the United States is the country investing the most in AI, with $328,548 million spent in the last five years. They have invested $67,911 million in 2023 alone, a 65.94% increase from that of 2019. 

China places second with $132,665 million spent on AI between 2019 to 2023, around 60% less than the United States. The country’s investment in AI has been slowing down since 2019, totalling $15,071 million in 2023, about a third less than their spending in 2019. 

In third place is the United Kingdom with a $25,541 million investment across the same period, almost 13 times less than the US by comparison. 

The other tech giant country in Asia, India, ranks fourth place with a $16,147 million investment in AI in the last five years. The country exceeds Germany, who ranks fifth by nearly  13% ($1,847 million). 

The country with the most significant growth in AI investment in the past five years is Sweden – an astonishing 2310%!

Top 10 countries outpacing the U.S in AI investment relative to GDP

RankCountryAI investment during 2019 – 2023  (per thousand dollars of GDP)AI investment during 2019 – 2023 as a % of U.S. investment (per thousand $ GDP)
1Singapore15.01116.3
2Sweden14.13109.5
3United States12.90100.0
4Estonia10.8984.4
5United Kingdom8.3264.5
6China7.3957.2
7South Korea6.2148.2
8Canada5.8245.1
9India4.7737.0
10Switzerland4.0131.1

When AI investment statistics are judged against the country’s GDP (Gross Domestic Product), Singapore comes out on top. Despite placing tenth in terms of the amount of money spent, their investment over the past 5 years is equivalent to 1.5% of its current GDP (in 2022). When compared to the U.S, their rate of AI investment is outpacing the U.S by 16% per thousand $GDP. 

This is followed closely by Sweden whose investment in AI is over 14 dollars per thousand $ GDP – equivalent to 1.4%. They are also the only other nation investing more than the U.S in AI in relative wealth terms (over 9%). 

The United States is investing $12.90 per thousand $GDP (1.29%), followed by Estonia who is investing $10.89 per thousand $ GDP (1.089%).

https://www.aiprm.com/ai-statistics/.

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