Generative AI investment skyrockets.

Despite a decline in overall AI private investment last year, funding for generative AI surged, nearly octupling from 2022 to reach $25.2 billion. Major players in the generative AI space, including OpenAI, Anthropic, Hugging Face, and Inflection, reported substantial fundraising rounds.

Already a leader, the United States pulls even further ahead in AI private investment.

In 2023, the United States saw AI investments reach $67.2 billion, nearly 8.7 times more than China, the next highest investor. While private AI investment in China and the European Union, including the United Kingdom, declined by 44.2% and 14.1%, respectively, since 2022, the United States experienced a notable increase of 22.1% in the same time frame.

Fewer AI jobs, in the United States and across the globe.

In 2022, AI-related positions made up 2.0% of all job postings in America, a figure that decreased to 1.6% in 2023. This decline in AI job listings is attributed to fewer postings from leading AI firms and a reduced proportion of tech roles within these companies.

AI decreases costs and increases revenues.

A new McKinsey survey reveals that 42% of surveyed organizations report cost reductions from implementing AI (including generative AI), and 59% report revenue increases. Compared to the previous year, there was a 10 percentage point increase in respondents reporting decreased costs, suggesting AI is driving significant business efficiency gains.

Total AI private investment declines again, while the number of newly funded AI companies increases.

Global private AI investment has fallen for the second year in a row, though less than the sharp decrease from 2021 to 2022. The count of newly funded AI companies spiked to 1,812, up 40.6% from the previous year.

AI organizational adoption ticks up.

A 2023 McKinsey report reveals that 55% of organizations now use AI (including generative AI) in at least one business unit or function, up from 50% in 2022 and 20% in 2017.

China dominates industrial robotics.

Since surpassing Japan in 2013 as the leading installer of industrial robots, China has significantly widened the gap with the nearest competitor nation. In 2013, China’s installations accounted for 20.8% of the global total, a share that rose to 52.4% by 2022.

Greater diversity in robot installations.

In 2017, collaborative robots represented a mere 2.8% of all new industrial robot installations, a figure that climbed to 9.9% by 2022. Similarly, 2022 saw a rise in service robot installations across all application categories, except for medical robotics. This trend indicates not just an overall increase in robot installations but also a growing emphasis on deploying robots for human-facing roles.

The data is in: AI makes workers more productive and leads to higher quality work.

In 2023, several studies assessed AI’s impact on labor, suggesting that AI enables workers to complete tasks more quickly and to improve the quality of their output. These studies also demonstrated AI’s potential to bridge the skill gap between low- and high-skilled workers. Still other studies caution that using AI without proper oversight can lead to diminished performance.

Fortune 500 companies start talking a lot about AI, especially generative AI.

In 2023, AI was mentioned in 394 earnings calls (nearly 80% of all Fortune 500 companies), a notable increase from 266 mentions in 2022. Since 2018, mentions of AI in Fortune 500 earnings calls have nearly doubled. The most frequently cited theme, appearing in 19.7% of all earnings calls, was generative AI.