Leading global research firm Everest Group has released its latest, 2024 version of the “Everest Group AI Top 50™” list, with its report highlighting signs of growth for the overall market, as the US continues to retain its status as the main tech powerhouse.
This global list of the largest AI-first technology providers is derived from multiple objective criteria, including each provider’s AI-specific revenues, overall organizational valuation, cumulative funding, and share of funding. These metrics collectively offer a data-driven perspective on which companies are leading in AI innovation and scale.
As AI continues to transform industries, streamline complex processes, and redefine human-machine interactions, this report serves as a valuable resource for enterprises seeking to partner with or invest in leading AI technology providers, that have reached substantial scale and are driving meaningful impact across global markets.
Furthermore, it enables AI-first companies to benchmark their performance, market influence, and growth potential relative to their peers, helping them understand their position within this rapidly evolving landscape.
Topping the 2023 AI Top 50 list are these 10 technology providers:
- OpenAI
- Anthropic
- Databricks
- Palantir
- Mistral AI
- Dataiku
- AlphaSense
- Scale AI
- SenseTime
- DataRobot
In addition to profiling current leaders in the AI space, this report offers a comprehensive overview of the global AI ecosystem, highlighting some of the most successful companies driving innovation in the field. For the second consecutive year, OpenAI tops the list, reflecting its significant influence on AI advancements worldwide.
US organizations maintain their dominance while Europe grows its AI presence:
U.S. dominance is evident throughout the report, with 7 of the top 10 and 15 of the top 20 companies based in the United States, underscoring the country’s pivotal role in AI development.
OpenAI in addition to the overall rankings, also leads the ‘AI Top 10’ rankings by both total private funding received and organizational valuation. Other U.S. firms, including Anthropic (2nd), Databricks (3rd), and Palantir (4th), also rank prominently across all three lists. French-based companies Mistral AI (5th) and Dataiku (6th) round out the top tier, representing Europe among the top 10 and signaling Europe’s growing footprint in the AI sector.
As the AI market matures, the competition is heating up:
Increasing competition in the AI market has introduced significant volatility to the top 50 rankings. This year, 18 new entrants (36% of the list) joined the top 50, underscoring the dynamic and rapidly evolving nature of the industry as new players continue to emerge and gain ground.
Among the 32 providers (64% of the list) that featured from the previous year’s list, 59% saw shifts of more than five places in the Top 50 rankings, further cementing the highly competitive nature of the AI market.
Download the Everest Group AI Top 50 2024 list
Vishal Gupta, partner at Everest Group, said:
“As firms across the world are gaining experience with AI, we are noticing the natural growth of Applied AI firms, which are working towards solving the pressing business problems across industries, and our lives”
While the Everest Group AI Top 50 focuses primarily on providers offering software-based AI products and solutions, Everest Group continues to recognize the broad-based technology providers, such as Microsoft, Google, AWS, IBM, Meta, and NVIDIA, that have been instrumental in pushing widespread advances in AI. Through their cooperative initiatives and innovative research, these institutions will play a crucial role in advancing AI’s innovative potential throughout the next year.
About the Everest Group AI Top 50 2024:
The Everest Group AI Top 50 is a global list of the largest AI-first technology providers. The listing is based on multiple objective parameters, including the providers’ AI revenues, cumulative funding, share of funding received in the past three years, and valuation. This is the second edition of this annual list.
The qualification criteria for Everest Group AI Top50 are based on the following parameters:
- AI-first: These providers develop and integrate AI as a central component in their products and solutions to a degree that without it, their offerings would be fundamentally incomplete. Providers that have AI as a feature that helps in improving their current offering, such as automation-first vendors, are excluded from this assessment
- Software-first: These providers develop and provide software-based AI solutions as their primary offering. The list excludes providers offering pure-play hardware and service-based AI offerings
- B2B focus/offerings: These providers offer software products and solutions to meet the technological needs of other businesses. The list excludes providers that exclusively offer AI solutions for consumer (B2C) purposes
About Everest Group:
Everest Group is a leading global research firm helping business leaders make confident decisions. We guide clients through today’s market challenges and strengthen their strategies by applying contextualized problem-solving to their unique situations. This drives maximized operational and financial performance and transformative experiences. Our deep expertise and tenacious research focused on technology, business processes, and engineering through the lenses of talent, sustainability, and sourcing deliver precise and action-oriented guidance. Find further details and in-depth content at www.everestgrp.com.
