Artificial Intelligence Report 2024

This 2024 Artificial Intelligence Industry Report unveils an era where AI is not just an auxiliary force but is defining technological progress. This year has witnessed an unprecedented amalgamation of high-caliber innovations, substantial workforce expansions, and big investments that affirm AI’s role in shaping the future. From generative modeling to conversational AI, the industry’s trajectory is marked by developments and adoption across diverse sectors. Explore the wide range of trends, investments, and firmographic data that present a comprehensive view of the AI industry.

This AI report serves as a reference for stakeholders within the industry, investors, policymakers, and economic analysts, providing a snapshot of the industry’s health to map its trajectory for innovation and growth in the coming years.

StartUs Insights Artificial Intelligence Report 2024

Executive Summary
Introduction to the Artificial Intelligence Report 2024
What data is used in this AI Report?
Snapshot of the Global Artificial Intelligence Industry
Funding Landscape in the AI Industry
Who is Investing in AI?
Emerging Trends in Artificial Intelligence
5 AI Startups impacting Various Industries

Executive Summary: Artificial Intelligence Report 2024

This report is created using data obtained from the Big Data and AI-powered StartUs Insights Discovery Platform, covering more than 4.7 million global companies, as well as 20K+ technologies and emerging trends. We also analyzed a sample of 4780+ AI startups developing innovative solutions to present five examples from emerging AI industry trends.

Industry Growth: AI industry growth soared with a 14.22% increase, showcasing rapid expansion in AI-related markets.
Manpower & Employment Growth: The workforce expanded by more than 792000, contributing to a global AI workforce of 7.9 million, a testament to the industry’s employment drive.
Patents & Grants: Over 95000 patents filed and more than 25000 grants awarded indicate a strong emphasis on innovation and R&D in AI.
Global Footprint: Top country hubs are in the USA, India, UK, Germany, and Canada, with major city hubs in London, New York City, San Francisco, Bangalore, and Toronto serving as key innovation nodes.
Investment Landscape: An average investment of USD 20 million per round, with 82000+ rounds closed reflects a robust and dynamic investment environment.
Top Investors: Major investors like Tiger Global and Goldman Sachs have collectively invested over USD 15 billion, indicating high investor confidence.
Startup Ecosystem: The report features five innovative startups: Erode AI (Climate Modeling), Re:Shark (AI Personalization), Anchor Node (AI Gaming), Patlytics (Patent Analytics), and Algorithma (AI FinTech).
Recommendations for Stakeholders: Stakeholders should continue fostering growth through strategic investments, support for R&D, and adoption of AI across various sectors for sustained innovation and market leadership. With the burst in diversity of AI applications, keeping up with emerging trends and companies is also vital for business development.

Explore the Data-driven Artificial Intelligence Report for 2024

This artificial intelligence report uses data from the Discovery Platform and encapsulates the key metrics that underline the sector’s dynamic growth and innovation. The report showcases a 14.22% growth in the last year, indicating a robust expansion across AI-related markets. The database contains over 121600 AI companies, illustrating the scale and depth of the industry’s global footprint.

Employee growth within the AI domain has been equally impressive, with more than 792000 new employees added over the past year, reflecting the surging demand for AI expertise and talent. This growth is part of a larger trend that sees a global AI workforce of 7.9 million, signifying the sector’s vast contribution to employment and the economy.

The USA, India, the UK, Germany, and Canada emerge as the top five country hubs for AI, driving innovation and investment in the sector. Meanwhile, cities like London, New York City, San Francisco, Bangalore, and Toronto are recognized as the top five city hubs, serving as hotbeds for AI startups and innovation.

Emerging startups further highlight the diverse areas of AI innovation, ranging from machine learning to data analytics, and represent the industry’s thriving startup ecosystem.

What data is used to create this AI report?

Based on the data provided by our Discovery Platform, we observe that the AI industry ranks among the top 5% in the following categories relative to all 20K topics in our database. These categories provide a comprehensive overview of the industry’s key metrics and inform the short-term future direction of the industry.

News Coverage & Publications: The artificial intelligence industry boasts an impressive media footprint with over 250000 publications in the last year.
Funding Information: A high volume of funding activity is evident, with data on over 82000 funding rounds available in the database.
Manpower: With its workforce exceeding 7.9 million, the AI industry has demonstrated significant employment growth, adding over 810000 new employees last year.
Patents: Innovation is at the heart of the AI sector, as shown by the filing of more than 95000 patents.
Grants: The industry’s commitment to advancing AI is further evidenced by the substantial number of grants awarded, with over 25000 grants.
and more. Book a demo to explore all data points used to create this AI report.

A Snapshot of the Global Artificial Intelligence Industry

A manpower count of 7.9 million workers underpins the industry’s extensive operations, with a noteworthy increase of 810000 new employees in the last year. This indicates rapid sectoral expansion and strong demand for AI skills in the workforce.

The number of companies involved in AI has soared past 222000, illustrating the industry’s exponential growth and its widespread influence across various sectors. This vast network of enterprises underlines AI’s critical role in driving innovation in the digital age.

In terms of innovation, the AI industry has secured over 4700 patents and has been supported by more than 6900 grants. This highlights a strong commitment to research, development, and the commercialization of AI technologies.

Explore the Funding Landscape of the AI Industry

An average investment round commands a substantial USD 20 million, showcasing significant investor confidence in the potential of AI technologies. More than 14500 investors have engaged with the sector, fueling its ascension through 82000+ funding rounds.

Further, the reach of these investments is vast, with over 29000 companies receiving funding, pointing towards a vibrant, well-funded ecosystem. This investment pattern highlights the diverse opportunities and confidence in AI as a transformative force shaping the future of technology and business.

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Who is Investing in Artificial Intelligence?

The AI industry is not just expanding in terms of manpower and innovation; it’s also experiencing significant financial injections from major investors. Collectively, the top investors have poured more than USD 15 billion into the sector, fueling its rapid growth and technological advancement.

Tiger Global stands out with an investment of USD 3.2 billion across 55 companies, spearheading the drive towards cutting-edge AI solutions.
Insight Partners follows, allocating USD 2.4 billion across 57 companies, betting on the transformative potential of AI.
Goldman Sachs has strategically invested USD 2.1 billion into 36 companies, emphasizing their confidence in AI’s economic impact.
SoftBank Vision Fund, with USD 2.1 billion distributed among 21 companies, showcases a keen interest in AI’s disruptive capabilities.
Tencent’s investments total USD 1.7 billion in 28 companies, focusing on AI’s role in advancing the tech landscape.
Sequoia Capital China has cast a wide net by investing USD 1.4 billion into 66 companies, fueling a diverse range of AI innovations.
Andreessen Horowitz has committed USD 1.3 billion to 45 companies, nurturing the growth of AI startups.
Blackrock also makes the list, with investments totaling USD 1.3 billion across 19 companies.

Gain Access to Top AI Innovations & Industry Trends with the Discovery Platform

The image details pivotal AI trends over the last year, with Generative AI taking the lead in both company involvement and media mentions. It’s represented by a substantial 5.6K companies and has amassed an impressive 40.5K mentions. This suggests that Generative AI’s capability to produce new content is capturing significant industry and media attention.

Following this trend are Large Language Models with 1.1K companies and a notable 11.1K mentions, reflecting its growing importance in natural language processing (NLP) and various AI applications. Edge Inference AI also stands out, showing a strong presence with 2.5K companies involved and receiving 12.7K mentions. This indicates its rising significance in processing AI tasks closer to the data source for quicker insights. Explore all AI trends with a platform demo today.

Explore Firmographic Data for All Artificial Intelligence Trends

Emerging AI trends differ from industry to industry. Broadly, the top trends in the industry already present a good picture of hot topics and company activity. Explore some top AI trends in more detail:

Generative Modeling is demonstrating growth within the AI landscape, with 296 companies working on this trend. Employing 9.4K individuals and welcoming 2.4K new talents in the last year, it has an annual trend growth rate of 61.33%. This surge highlights the industry’s focus on creating algorithms that generate new, synthetic data examples. It also indicates the high value placed on data augmentation and the creation of artificial environments.
Large Language Models have also seen significant traction, represented by 1.6K companies and a robust workforce of 104K. The addition of 15K new employees last year and an annual growth rate of 61.06% underscores the crucial role of these models in interpreting and generating human-like text.
Conversational AI stands as a giant in the sector, with 16K companies investing in technologies that revolutionize human-computer interactions. This trend employs 1.1 million individuals, boosted by 106K new employees in the past year, reflecting a healthy growth rate of 14.55%. Conversational AI’s impact on customer service, virtual assistance, and interaction is reshaping numerous industries.

5 Top Examples from 4780+ Innovative AI Startups

The five innovative startups showcased below are picked based on data including the trend they operate within and their relevance, founding year, funding status, and more. Book a platform demo to find promising startups, emerging trends, or industry data specific to your company’s needs and objectives.

Erode AI enables Generative Climate Modeling

Erode AI is a Canadian startup that leverages generative AI to provide advanced, localized weather forecasts. The platform offers users precise data, including location-specific accuracy reports, enhancing reliability. Erode AI’s interface and API simplify access to vital weather information, streamlining decision-making processes. Probabilistic weather forecasts for wind and precipitation further enable scenario-based planning, offering insights into future conditions. The system includes features for assessing extreme rainfall events and risk management for various assets. Users benefit from tailored alerts and notifications, ensuring timely responses to weather changes.

Re:Shark specializes in AI Personalization

Dutch startup Re:Shark specializes in optimizing direct B2B marketing through AI. Its platform streamlines workflow with multichannel automated sequencing, enhancing response rates. It employs AI to craft personalized messages, significantly boosting conversion rates and engagement. With Re:Shark, businesses maintain full control over their campaigns, ensuring data integrity and personalized outreach. The service also easily integrates with various tools like Gmail, Outlook, and LinkedIn, enhancing its utility. For flexibility, Re:Shark offers a SaaS subscription model or full-service campaign management, catering to diverse business needs.

Anchor Node streamlines AI Gaming

South Korean startup Anchor Node specializes in creating innovative connections between gamers, products, and studios to foster a thriving ecosystem. Its AGIS platform, a SaaS-based AI Gaming Image Solution, introduces 3D posture integration and a prompt archive. AGPO, another offering, optimizes game levels across genres using AI-driven processes. EQUILIBRIUM further focuses on maximizing game revenue by providing real-time marketing and performance data. Finally, its NPC AI Solution enhances gaming experiences by enabling dynamic interactions between players and AI NPCs.

Algorithma builds AI-driven FinTech Solutions

Indian startup Algorithma offers FIN-GPT, an AI co-pilot for financial analysis and investment strategies within the data center industry. The platform offers a suite of tools, enabling real-time market intelligence and streamlined investment decision-making. It empowers users to perform in-depth financial analysis, offering insights into stocks, mutual funds, and market trends. The platform’s democratization of financial data further ensures accessibility and simplifies complex analyses, catering to a broad spectrum of financial expertise. Lastly, FIN-GPT’s versatile applications extend across sectors, aiding venture capitalists, fund houses, and government agencies in harnessing data-driven financial intelligence.

Patlytics provides Patent Analytics & Insights

US-based startup Patlytics offers a platform for patent search and analytics, leveraging AI to enhance the patent discovery process. The platform processes over 50 million patents from multiple global regions, ensuring a broad and relevant data set. It allows users to focus searches from various perspectives, employing technical filters to refine results. Integration with proprietary databases further enhances the platform’s utility, providing access to exclusive data and analysis tools. For example, its patent draft mode utilizes AI to create initial patent drafts, facilitating collaboration across legal, engineering, and design teams. Patlytics also ensures data accuracy through multiple layers of verification, including citation checks and source auditing.

Looking for Comprehensive Insights into Artificial Intelligence Trends, Startups, or Technologies?

From generative modeling to large language models, this artificial intelligence industry report shows companies and investors alike navigating a dynamic and evolving landscape. The integration of AI across numerous industries heralds a new era of efficiency, creativity, and problem-solving. The last year has ensured that AI remains at the forefront of technological advancement for years to come. Book a platform demo to explore all 4780+ startups and scaleups, as well as all AI trends impacting your business.