Five US Cities Among top 10 Have AI Start-Ups Globally

Five out of the top 10 cities for Artificial Intelligence (AI) globally are in the US followed by China (2) and France, Israel and the UK one each respectively, according to StartupBlink, a startup ecosystem map and research centre, based in Cyprus and offices in France.

The top 10 cities with the number of AI start-ups are San Francisco (53,547), Beijing (15,997), New York (14,855), Los Angeles (8,685), London (8,547), Boston (7,657), Paris (7.068), Tel Aviv (6,466), Shen Zen (6,208), and Seattle (5,822).

According to the US-based Crunchbase, which provides information about businesses globally, AI is becoming an increasingly important sector for start-ups, with investments in 2023 nearing $50 billion and totalling over $300 billion since 2013, funding more than 16,000 companies.

Even start-ups that are not producing AI solutions are widely integrating AI into their processes. The city where a start-up is based can influence its access to funding, available talent pool, and overall operations.

For start-ups looking to integrate AI into their products, the IBM for Start-ups program offers a cost-free, equity-free initiative that connects start-ups with IBM’s expansive market reach. Through this program, start-ups can find a partner to scale their solutions globally and fully leverage their technological innovations.

Swelling Numbers

According to a report, 42% of global companies have reported exploring AI use within their company and over 50% of the companies are planning to incorporate AI technologies in 2024. That means that over 77% of companies are either using or exploring the use of AI.

There are 333.34 million companies worldwide, meaning over 250 million companies are using or exploring AI in their business operations, the report said.

China has the highest rate of AI adoption (around 58% of companies) and the global AI market is expected to reach $1.85 trillion by 2030. Larger enterprise companies are twice more likely to use AI than smaller businesses.

In 2017, only 20% of companies incorporated AI into their product offerings and business operations. But 72% of those businesses believed that AI would have an impact on their business within five years.