Competition in the AI sector is heating up. Here's how it's impacting business and academia.

For decades, the field of artificial intelligence seemed stagnant. Researchers started gaining momentum in the early 2010s as deep learning proved useful in real-world applications such as speech recognition. The real inflection point, however, did not come until November 2022, when OpenAI launched ChatGPT.

The chatbot represented a huge leap in AI's capabilities. The ability to build intelligent systems out of computer chips, a goal that seemed decades away, now seems within reach. ChatGPT's advanced natural language processing abilities showcased the potential for AI to comprehend and generate human-like text, proving to be a versatile tool for a plethora of applications from customer service to content creation.

This technology has drastically changed the field of AI, driving activity in both the private sector and academia. Major technology companies and startups are investing heavily in AI development, creating a competitive landscape in the field. Universities are also ramping up their AI research programs to keep pace with industry advancements. According to the 2024 Stanford AI Index Report, this frenzy is reshaping industries through a surge in startup formation and accelerated research efforts.

Verbit analyzed Stanford's AI Index Report to better understand how AI has changed in recent years and highlighted the exponential growth in AI-related publications and patents.

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