{"id":8985,"date":"2024-06-27T07:20:45","date_gmt":"2024-06-27T07:20:45","guid":{"rendered":"https:\/\/innovationisrael.org.il\/en\/?post_type=press_release&p=8985"},"modified":"2024-07-23T14:26:40","modified_gmt":"2024-07-23T14:26:40","slug":"israel-ranks-third-in-the-world-for-leading-companies-in-the-field-of-genai","status":"publish","type":"press_release","link":"https:\/\/innovationisrael.org.il\/en\/press_release\/israel-ranks-third-in-the-world-for-leading-companies-in-the-field-of-genai\/","title":{"rendered":"Israel Ranks Third in the World for Leading Companies in the Field of GenAI"},"content":{"rendered":"\n

A new Israel Innovation Authroity<\/em> study shows that 4% of companies operating globally in GenAI are Israeli, behind only USA and UK<\/em><\/h3>\n\n\n\n

During AI Week at the Yuval Ne’eman Workshop at Tel Aviv University, Dror Bin, CEO of the Israel Innovation Authority, presented today a series of international studies and new research conducted by the Authority. These studies show that Israel has successfully entered the Gen-AI world with 73 Israeli companies engaged in the field. The studies indicate that Israel ranks third globally in this sector.<\/p>\n\n\n\n

Dror Bin emphasized the Israeli innovation ecosystem’s remarkable ability to adapt swiftly to global technological challenges, \u201cAt a time when Generative AI leads the forefront of innovation, we are witnessing impressive growth of Israeli companies in this field. According to the research, Israel is third in the world for active companies in the field of GenAI.\u201d<\/p>\n\n\n\n

He further noted that Israel’s unique advantage stems from a combination of deep technological expertise, proven research capability, and a profound understanding of global market needs. Israeli companies are at the forefront of developing advanced models, optimizing performance, and creating innovative applications in areas such as natural language processing, computer vision, and cognitive automation.<\/p>\n\n\n\n

However, Bin also highlighted the challenges posed by intensifying global competition. He stressed the critical importance of continued investment in research infrastructure, human capital, and international collaborations. The Israel Innovation Authority is expanding support programs for AI companies, encouraging academia-industry collaborations, and attracting foreign investments in the field.<\/p>\n\n\n\n

“Our goal is not only to maintain our status as a startup nation but to preserve Israel\u2019s position as a global AI powerhouse,” Bin said. “This is a national mission that will require close cooperation between the government, industry, and academia. Through proper investment and strategic thinking, we can ensure that Israel continues to lead the next technological revolution.”<\/p>\n\n\n\n

The international studies presented by Bin include reports from Tortoise, the AI Index Report 2024 – Stanford University, the QUID 2023 database, Europe and Israel\u2019s Founder Factories GenAI Edition, the Dealroom 2004 database, and the IVC database.<\/p>\n\n\n\n

A recent study based on PitchBook databases was presented for the first time at the conference. It examined three groups:<\/strong><\/p>\n\n\n\n