OpenAI’s ChatGPT has marked its second anniversary since its launch in November 2022, sparking unprecedented growth in artificial intelligence development. According to Gary Grossman, EVP of technology practice at Edelman, the AI chatbot’s release led to a dramatic surge in AI startups, with current estimates suggesting around 70,000 AI companies worldwide – double the number from 2017.
The technology sector is now moving rapidly toward more advanced AI systems, with industry leaders predicting the possible emergence of artificial general intelligence (AGI) within the next decade. Venture capital investments reflect this trend, with AI-related investments accounting for 33% of total VC funding in the U.S. during the first nine months of 2024, according to Statista. Enterprise adoption is also accelerating, with industry analyst firm GAI Insights projecting that 33% of enterprises will implement generative AI applications in production by 2025.