Bergur Thormundsson
Research expert covering technology in the Nordics, AI and smart cities
Get in touch with us nowThe United States dominates AI funding
There are few nations on earth that have as much investment pull as the United States and that translates precisely into strong leverage on AI. The country is the location for, by far, the largest number of AI startup funding deals. Funding in the country increased considerably through 2020 and 2021, followed by a slump in 2022 in line with AI funding worldwide. However, at the end of 2022, the market had begun to recover and was steaming ahead in early 2023. The United States continues to dominate the market both in the share of deals and in sheer funding. It also houses some of the most sought-after tech startups and companies, whether it is OpenAI, an innovative generative AI company, or its principal funder in the form of the tech giant Microsoft.An advantage in the AI race
The U.S. has a clear advantage in the race to become an AI superpower. It is evaluated as the leading country by AI research capacity, well beyond other competitors, while tech giants such as IBM and Microsoft are among the leading AI and machine learning (ML) patent owners. As such, the U.S. is ranked as the country with the highest readiness to implement AI in the public sector, scoring particularly high in the categories of AI vision and AI governance and ethics. The U.S.’ only real competitor is China, also wielding enormous resources and backed by a focused state apparatus determined to reach the first spot.Government and industry need to cooperate
While the U.S. has the lead in the AI race, it is difficult to say whether it can maintain this indefinitely. It is imperative that the U.S. builds on the advantages it has and continues to produce, recruit, and develop skilled AI talent, foster an innovative atmosphere, and encourage co-operation with like-minded nations. This should be backed by a clear regulatory framework minimizing harm to its citizens while not hampering development in the country.
