Recent projections suggest AI investments are anticipated to approach $200 billion globally by 2025, with countries racing to enjoy the benefits artificial intelligence has on productivity and the economy.
Which countries invested the most in AI between 2019 and 2023? AIPRM’s AI statistics show that the United States is now leading in AI investment compared to other countries.
According to AIPRM figures, the United States has invested the most in AI, spending $328,548 million over the last five years. They invested $67,911 million in 2023, up 65.94% from 2019.
China invested $132,665 million on AI between 2019 and 2023, around 60% less than the US. Since 2019, the country’s investment in AI has been declining, with a total of $15,071 million expected in 2023, or one-third less than in 2019.
The United Kingdom ranked third with a $25.541 million investment during the same period, nearly 13 times less than the United States.
India, Asia’s other IT behemoth, is ranked fourth with a $16,147 million investment in AI over the last five years. The country outperforms Germany, which ranks fifth, by over 13% ($1,847 million).
Sweden has experienced a staggering 2310% increase in AI investment over the previous five years.
Singapore outperforms other countries in terms of AI investment compared to GDP.
Despite ranking tenth in terms of spending, their investment over the past 5 years amounts to 1.5% of their present GDP (in 2022). When compared to the United States, their rate of AI investment outpaces the latter by 16% per thousand dollars of GDP.
Sweden ranks second with an AI investment of over 14 dollars per thousand $ GDP, or 1.4%. In terms of relative wealth, they are the only other nation investing more in AI than the United States (more than 9%).
The United States invests $12.90 per thousand GDP (1.29%), while Estonia invests $10.89 per thousand GDP (1.089%).