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Markets & Investing

Staff Reporter

, Singapore

Published:

1 year ago

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/Igor Omilaev from Unsplash

Singapore tops region as best country for AI startups

It has a relative hiring rate of 18.93%.

Amongst regional peers, Singapore ranked first as the best country for AI startups, with a relative AI hiring rate of 18.93% from 2022 to 2023, according to the AIPRM report.

Globally, Singapore ranked second after the US (AI hiring startup score of 85.97).

Singapore also recorded a final AI startup score of 84.36, with 193 newly funded AI companies from 2013 to 2023 and a total of $8.1b (US$6.3b) in AI private investment.

They also have invested a total of $432.4b (US$335.2b) into AI, which was the highest amount of private investment in the study.

Meanwhile, India ranked as the tenth best country to start up in AI, with a final score of 67.2. Their AI hiring rate is one of the highest in the top ten, at 16.83%; however, their revenue growth is one of the lowest in the top ten, at 196%.

(US$1 = $1.29)

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