The field of artificial intelligence (AI) has seen significant advancements and investments in recent years, particularly in the generative AI sector. Generative AI, which involves AI systems capable of creating new content, has become a focal point for many tech giants, governments, and academic institutions. The year 2023 has been particularly notable for substantial investments and initiatives aimed at fostering the growth and responsible development of generative AI. This article provides a detailed overview of these major investments and initiatives of generative AI in North America, highlighting the commitment of various stakeholders to advancing AI technologies
In February 2023, Google LLC, a leading multinational technology company, announced a significant investment of approximately US$300 million in Anthropic, an AI startup. This move underscores Google's commitment to supporting emerging companies in the rapidly growing generative AI sector. Anthropic, founded by former OpenAI researchers, focuses on developing AI systems that are interpretable, steerable, and aligned with human values. Google's investment aims to bolster Anthropic's research and development efforts, further advancing the capabilities of generative AI technologies.
In May 2023, the United States National Science Foundation (NSF), in collaboration with federal agencies, higher education institutions, and other stakeholders, announced a US$140 million investment to establish seven new National Artificial Intelligence Research Institutes. This initiative is part of the federal government's broader policy to systematically address both the benefits and concerns associated with AI. The new research institutes will focus on various AI-related areas, including ethical AI, AI for environmental sustainability, and AI-driven healthcare innovations. The NSF's investment is expected to drive significant advancements in AI research and its practical applications.
In May 2023, PwC Canada also announced the firm's intention to spend US$200 million in the next three years to build its artificial intelligence capacity. The investment forms part of a US$1 billion investment in AI that PwC US had earlier made. The move by PwC aims at empowering clients to redesign their businesses with the injection of generative AI technologies. The approach focuses on human-led and tech-powered solutions with built-in trust and sustained outcomes—in support of PwC's global strategy.
In June 2023, Salesforce Ventures announced the expansion of their US$250 million Generative AI Fund to US$500 million. The mere fact that this expansion happened means Salesforce has a keen eye for investing in the AI startup ecosystem and the development of generative AI in a responsible way. It includes fresh innovation innovators in AI, like Humane and Tribble, in the portfolio. Through this investment, Salesforce will increase the growth rate and accelerate the acceptance of generative AI across many verticals.
Accenture Plc, one of the largest professional services companies, announced in June 2023 that it has invested US$3 billion in its Data & AI practice over a period of three years. Such a large investment is targeted at helping clients in faster and more ethical adoption of AI technologies across different industries. Such efforts by Accenture target improving growth, efficiency, and resilience with AI-induced solutions. The investment will be put into developing new AI tools and applications that avails the wherewithal to clients to effectively respond to the change in technology.
During the fiscal year 2022-23, the funding for AI research and development in Canada was US$2.57 billion. This strong investment translated into a stunning 57% increase in AI patent filings by Canadian inventors, outperforming the average increases across all G7 countries. Such huge funding attests to the strong interest that Canada takes in pursuing new scientific knowledge in AI and developing related applications—once again placing Canada among the leaders in the global environment of AI research and development. An increase in patent filings goes to prove the innovative works by researchers from Canada and has immense potential for AI technologies that may transform the world.
In October 2023, Tecnológico de Monterrey’s Guadalajara campus and Wizeline, a global technology services company, launched G.AI.L (Generative AI Lab), the first of its kind in Mexico and Latin America. This partnership combines Wizeline's technological expertise with Tec de Monterrey's academic resources, establishing the lab as a key center for Generative AI in North America. Wizeline is further supporting this initiative with a US$1 million investment for a scholarship program spanning the next five years. G.AI.L aims to drive AI innovation and development in Latin America, fostering a new generation of AI experts and entrepreneurs.
In October 2023, the National Science Foundation (NSF) of the United States announced a US$10.9 million investment to enhance research on guaranteeing user safety in the field of artificial intelligence. This initiative, in collaboration with Open Philanthropy and Good Ventures, focuses on the Safe Learning-Enabled Systems initiative. The program aims to support foundational research that guides the design and implementation of secure AI systems, including autonomous and generative AI technologies. Ensuring the safety and resilience of AI systems is a critical concern, and this investment seeks to address these challenges comprehensively.
In October 2023, Visa Inc., a global leader in the payments industry, announced a new US$100 million initiative for generative AI ventures. This strategic investment aims to support emerging companies focused on developing generative AI technologies and applications that will significantly impact the future of commerce and payments. Visa's initiative highlights the potential of generative AI to transform the payments industry, enhancing security, efficiency, and user experience. By investing in AI startups, Visa is positioning itself at the forefront of technological innovation in the financial sector.
The year 2023 has witnessed unprecedented investments and initiatives in the generative AI in North America, reflecting the growing importance of AI technologies in various industries. From Google's significant investment in Anthropic to the NSF's establishment of new AI research institutes, these efforts underscore the commitment of tech giants, governments, and academic institutions to advancing AI capabilities.
PwC Canada's substantial investment in AI, Salesforce Ventures' expanded Generative AI Fund, and Accenture's US$3 billion commitment to its Data & AI practice further illustrate the widespread recognition of AI's transformative potential. Canadian AI research and development funding, the launch of G.AI.L in Latin America, and Visa's generative AI venture initiative highlight the global nature of AI innovation and the diverse applications of generative AI technologies.
As these investments and initiatives continue to unfold, they will drive significant advancements in AI research, development, and application. The collaborative efforts of various stakeholders will ensure that generative AI technologies are developed responsibly, ethically, and with a focus on delivering tangible benefits to society. The future of generative AI is bright, and the investments made in 2023 will play a crucial role in shaping the trajectory of AI innovation for years to come.