A new study shows that the U.S. has replaced China atop the list

ABI Research said this week that the United States is the top market for investment in artificial intelligence. According to the study, the U.S. represented 52.3% of all AI investment in 2018. That figure signaled that the U.S. has replaced China as the global leader.

The report further suggests that the U.S. could see its global stake in the market jump as high as 70% in 2019.

ABI Research: The U.S. Topples China in AI Investment

Next, the United States increased AI investment by 120% in 2018 compared to the previous year. The U.S. investors poured $9.7 billion into that market last year. That figure could further balloon to $14 billion this year thanks to a wave of investments in firms like Dataminr, Cruise Automation, Zoox, and Zymerge.

“The United States is reaping the rewards from its diversified AI investment strategy,” said Lian Jye Su, Principal Analyst at ABI Research. “Top AI startups in the United States come from various sectors, including self-driving cars, industrial manufacturing, robotics process automation, data analytics, and cybersecurity. All these startups research on and invest in cutting edge deep learning technologies in their solutions, democratizing AI for enterprises and end consumers.”

China AI Investment Levels

Meanwhile, ABI Research said total AI investment in China reached $7.4 billion. That figure represents a 54% annual increase. Furthermore, leading investments include SenseTime, Yitu Technology, and CloudWalk.

[Related: Alternative Mutual Fund: Gabelli ABC Fund – Class AAA (GABCX) Merger Arbitrage Fund]