A look at the top 10 countries for AI startups; India stands out

The Top 10 Nations in the World for AI Technology and Research: Consumer awareness, startup funding, and the overall economic potential of AI have all been significantly impacted by the rise of generative AI, which is fueled by the launch of ChatGPT and the expanding acceptance of AI technology.

Nowadays, Artificial intelligence (AI) is an essential part of the continuous technical advancement in the modern digital economy, and it is quickly changing industries and societies all over the world.

Since ChatGPT was first presented by OpenAI about two years ago, it has been important in driving the generative AI revolution. It is also worth noting that consumer awareness has gone beyond initial projections.

An analysis by BCG reveals that over 90% of customers in India and the United Arab Emirates are aware of ChatGPT, whilst over 80% of consumers in China and Saudi Arabia are as well.

Furthermore, around 75% of respondents use ChatGPT or another AI-driven service; this is especially the case in so-called developed markets like India, where 45% of respondents use ChatGPT or similar products.

A large portion of the nation’s IT workforce is qualified to use AI in a variety of contexts, including personal virtual support and research aid.

Conversely, respondents in the United States—which leads the world in overall private investment in AI, with $335 billion invested between 2013 and 2023—report using ChatGPT less frequently and more for leisurely exploration.

The increasing acceptance of artificial intelligence (AI) in 2023 has been fueled by this trend, and predictions indicate that it will continue to develop into 2024, leading to a notable rise in the number of newly funded AI firms.

 Fig: Notably, an estimate by Grand View Research projects that the size of the worldwide AI market will increase at a compound annual growth rate (CAGR) of 36.6% between 2024 and 2030.

According to the Stanford AI Index Report 2024 and Goldman Sachs, global private investment in AI stood at $91.9 billion in 2022 and is predicted to rise to $158.4 billion by 2025. As a result, the number of newly funded AI startups has reached approximately 1,812, representing a 40.6% increase from the previous year.

Bringing in a tidal surge of fresh investors and creators, we investigate which nations have the greatest concentration of AI businesses that are setting the standard for innovation worldwide.

Top 10 countries (2013–2023) with the greatest concentration of AI startups:

The top nations where AI companies have seen the greatest growth over the previous ten years are listed in Stanford’s 2024 AI Index Report.

Source: Stanford Report’s AI Index 2024

Note: Based on data from 2013 to 2023, this research concentrates on recently financed artificial intelligence firms that have raised more than $1.5 million in private funding.

Ranking of the top ten nations using ChatGPT:

Artificial intelligence tools like ChatGPT are becoming more and more popular around the world as they become more integrated into daily life. Remarkably, 45% of respondents said they used ChatGPT, placing India at the top of the list of users, according to BCG.

The survey’s findings, which show that 40% of respondents were excited about AI technologies, reflect this enthusiasm for the technology.

There are, however, differing opinions as well; 29% of respondents voiced worries about the potential effects of AI, while 28% expressed conflicting feelings.

Here is a table that shows the top 10 countries in terms of the proportion of respondents who use ChatGPT regularly.

Source: Boston Consulting Group’s 2023 CCI Global Consumer Sentiment Survey is the source.