According to a recent study by ZeroBounce, Israel ranks fourth in the top ten list of countries in the world that are considered most advanced in the field of artificial intelligence (AI).
The study placed ten countries on the list in the following order from 1 to 10: the United States, China, the United Kingdom, Israel, Canada, Germany, India, France, South Korea and Singapore.
To create the ranking, the study analyzed private investments made over the last decade, the number of AI-related start-ups and labor market-related criteria such as the rate of AI specialists and corresponding job advertisements.
Liviu Tanase, founder and CEO of ZeroBounce, said that “these investments and developments will play a critical role in shaping the future of global technology.”
The USA is the most advanced in AI
The US, which ranked first in AI development, has attracted $335.2 billion in private investment over the past decade. In addition, the results showed that 5,500 AI startups were founded in the US and that in 2024, there will be 71,000 job openings in the field available to AI enthusiasts.
China, which ranks second in the rankings, has advanced AI the fastest, with $103.5 billion in investments, three times less than the US. However, the study found that while China has fewer AI-related startups and job openings, it has more AI specialists in its workforce overall, at 0.64% of all those employed in China.
The UK ranked third with $22.2 billion in AI investments. In 2023, investments would amount to $3.78 billion, one-sixth of the country’s investments in the last decade. Compared to India, the UK founded twice as few startups, a total of 727, according to the study.
Israel ranks 4th worldwide
Israel managed to make it into the top five countries and, according to the study, ranked fourth in the world in the development of artificial intelligence.
Israel has spent $12.83 billion on AI innovations. The country has seen 442 artificial intelligence startups launched, nearly 300 fewer than the UK. However, Israel has the highest concentration of AI talent compared to the total workforce at 1.13%, the study found.
Canada is just behind Israel in fifth place, with $10.35 billion in private investment. In 2023, Canada spent slightly more on AI than Israel, at $1.61 billion. Overall, AI-related job postings in Canada account for 1.05% of all job openings, the third highest rate in the ranking.
The last five countries
Germany ranked sixth with investments in AI technologies of $10.35 billion. Last year, Germany invested more actively in AI than Canada or Israel, with $1.91 billion.
India ranks seventh, with investments in AI totaling $9.85 billion over the last decade.
France ranked eighth, investing $8.31 billion in the AI industry. The study also highlighted that France spent more money on AI last year and has more AI startups than India, but it is still over a billion dollars behind.
South Korea ranked ninth, with private investors investing $7.25 billion in AI technologies. According to the study, South Korea currently has the fewest number of job openings among the top 10, but the country has still spent over $1.3 billion on future developments.
Singapore came in tenth place with investments of $6.25 billion, which is 50 times less than the USA.
