AI Race: India Is 5th Among Countries With Highest AI Investment In 2022

by Tooba Shaikh
AI Race: India Is 5th Among Countries With Highest AI Investment In 2022

Artificial intelligence has been all the rage recently. It seems that AI is the next big thing that is going to completely revolutionise every aspect of our lives. Ever since the launch of Google-supported OpenAI’s ChatGPT, it seems that everybody is in a race to harness the full potential of AI which is still unknown and untapped. In order to do that, many industries are seeking investment in companies that work on or with artificial intelligence.

AI Race: India Was 5th-Highest In 2022 In AI Investment

AI race
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In a recent report released by Stanford University, the Annual AI Index Report 2023, a lot of important information was released. Among the many things revealed in the report, was the list of countries with the highest amount of investment in AI-related industries. 

It turned out that when it comes to AI, India is among the top countries working in the field. In the list of countries that have received the highest amount of AI investment in the year 2022, India ranks 5th. Furthermore, it ranks 6th in the list of countries with the highest AI investment from the years 2013 to 2022.

Just last year, India invested close to $3.5 billion in AI-related fields and industries. From the year 2013 to 2022, the country invested a total of $7.73 billion in AI. One of the many reasons for such a high investment rate is that the latest AI technology seems to promise high returns.

Also Read: Air India To Use AI Chatbot ‘ChatGPT’! Here’s What’s Going To Change

Other Countries Leading In The Race

AI race
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The report showed that India was ahead of countries like Singapore, Japan, South Korea, etc. when it came to investing in AI. However, the United States of America or the USA is in the lead when it comes to AI investment.

From 2013 to 2022, the US invested a whopping $248.90 billion dollars in the field. Just last year, its investment in AI-related industries was worth $47.36 billion. China comes in second on both lists with $13.41 billion dollars invested in 2022 alone.

Read the full report here.

Also Read: In Addition To Travel, ChatGPT Will Now Also Give Restaurant Suggestions!

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