Investment in Generative AI has Surged Recently
Generative AI is a type of artificial intelligence that can create various media, including text, images, and music. It learns from existing data to generate novel outputs. Examples include language models like GPT-4 and Claude, which can write essays or answer questions, and image generation models like Midjourney and DALL·E, which can create artwork based on textual descriptions.
In 2023, funding for generative AI soared to $22.4 billion, nearly nine times more than in 2022 and about 25 times the amount from 2019. This surge occurred despite overall investment in AI declining since its 2021 peak.
The data is produced by Quid and made available through the AI Index Report. Quid analyzes investment data from over 8 million companies, using natural language processing to uncover patterns and insights from vast datasets. We have recently updated our charts on Our World in Data with the report's latest edition.