Artificial Intelligence (AI) advancements on the global investment landscape. While AI companies raised a total of $42.5 billion in funding across 2,500 deals in 2023, representing a decline of 10.2% in funding and 24.1% in deals, the decline in investment value would have been more significant without OpenAI’s massive $10 billion round.
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The broader context reveals that total venture funding in 2023 plunged by a steeper 41.7%, and deals declined by 30.4%, making the share of AI in investment value reach 17.1%, compared to 11.1% the previous year. Despite the decline in AI funding compared to previous years, it has outperformed the overall investment activity.
The article emphasizes the need for countries like Pakistan to adapt to the age of AI by investing in research and development to enhance productivity and remain relevant in a changing landscape.
