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AI investments by country: Who will dominate the future of technology

AI-investments-by-country-in-a-race-for-technology-leadership

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. In this report we look at AI investments by country between 2019 to 2023. AI statistics from AIPRM compared the data to find out who is leading the way in AI investment…

Key findings on AI investments by country

  • 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)

Rank Country 2023 investments

(millions USD)

% of investment increase compared to 2019  Total investment in last 5 years (millions USD)
1 United States 67,911 65.9% 328,548
2 China 15,071 -30.5% 132,665
3 United Kingdom 3,518 0.2% 25,541
4 India 3,808 261.3% 16,147
5 Germany 1,808 -11.2% 14,300
6 Canada 2,067 40.2% 12,457
7 South Korea 2,102 238.5% 10,348
8 France 1,853 74.7% 10,185
9 Sweden 2,603 2310.2% 8,281
10 Singapore 1,928 191.7% 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).

Sweden leads in most significant growth in AI investments by country

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

Rank Country AI investment during 2019 – 2023  (per thousand dollars of GDP) AI investment during 2019 – 2023 as a % of U.S. investment

 (per thousand $ GDP)

1 Singapore 15.01 116.3
2 Sweden 14.13 109.5
3 United States 12.90 100.0
4 Estonia 10.89 84.4
5 United Kingdom 8.32 64.5
6 China 7.39 57.2
7 South Korea 6.21 48.2
8 Canada 5.82 45.1
9 India 4.77 37.0
10 Switzerland 4.01 31.1

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%).

 

Please see the full datasheet with 53 countries included here.