Everest Group Unveils Inaugural ‘Artificial Intelligence Top 50’ Recognizing Global Market-Leading AI-first Technology Providers
Collectively, these AI technology providers have raised over US$50 billion in total lifetime private funding, showcasing huge investor trust and growing importance of the technology.
DALLAS, November 16, 2023 — Everest Group today released the inaugural edition of the “Everest Group Artificial Intelligence Top 50™” (AI Top 50), a list of the world’s largest AI technology providers. AI technology providers are those that develop and integrate Artificial Intelligence (AI) as a central component in their products and solutions.
“As AI technology rapidly advances, it is redefining human-machine interactions and reshaping industries, if not our way of life,” said Vishal Gupta, vice president at Everest Group. “The remarkable growth in AI innovation has given rise to more than 5000 AI technology providers in the past decade alone, by our estimates. The Everest Group AI Top 50 will help enterprises identify the 50 largest, most well-funded, and relatively scaled-up AI-first companies amongst this sea of AI technology providers. The list also helps AI technology providers to compare themselves against others in the industry.”
Topping the 2023 AI Top 50 list are these 10 technology providers:
- Open AI
- C3 AI
Key Highlights of the Everest Group AI Top 50 Report
The Everest Group AI Top 50 includes numerous additional research findings, including:
- The U.S. hosts the most AI technology providers (70%); however, innovative companies are emerging globally. China follows with 12%, showcasing its rapid ascent in the global tech arena driven by its booming domestic market.
- Almost 50% of the technology providers in this list offer applied AI solutions. Applied AI includes applications and solutions that solve real-world problems and address specific business needs of enterprises in specific industries.
- Privately held companies (82%) dominate the Everest Group AI Top 50 distribution in comparison to public companies (18%). Collectively, the AI technology providers in this list have raised over US$50 billion in total lifetime private funding, showcasing huge investor trust and growing importance of the technology.
- Everest Group has documented a noticeable trend of decreasing time to unicorn status for AI providers in various industries worldwide.
“While we’ve recently seen a surge of AI innovation over the past year, Dataiku has been at the forefront long before the AI hype,” said Krish Venkataraman, President of Dataiku. “Our inclusion in Everest Group’s inaugural AI Top 50 list is a testament to our AI-first approach for customers worldwide – making Everyday AI a possibility for all.”
About the Everest Group AI Top 50™
The Everest Group AI Top 50™ is a global list of the Top 50 AI-first providers. To qualify for the list, providers must meet three criteria:
- 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 which 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.
Technology providers are ranked based on their overall AI revenue (40%), total funding received (30%), growth in funding during last two years (15%), and market valuation (15%).
About Everest Group
Everest Group is a leading 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 delivers precise and action-oriented guidance. Find further details and in-depth content at www.everestgrp.com.