Corporate AI Investment Drops for 2nd Year, Down 20% in 2023 to $189B

• Global corporate investment in AI dropped 20% from 2022 to $189.2 billion in 2023, marking the 2nd straight year of declining investment • Mergers and acquisitions related to AI fell 31.2% from 2022 • Peak investment was in 2021 at $337 billion; dropped to $234 billion in 2022 before the 2023 decline • U.S. invested 8.7 times more in AI than China in 2023 and saw a record 897 new AI companies launched • 26% of surveyed businesses said contact center automation was their primary AI use case, driving efficiency gains but potentially replacing humans