Visualising AI spending: How does it compare with history’s mega projects? | Technology News | Al Jazeera

AI is great. However, I also just read a report from Morgan Stanley wrote "Promises are big, but adoption is only 15-20%." And "Productivity gains not yet in evidence, concentrated among tech companies themselves."

Can this level of spending be justified?

In just over a decade, investment in AI has surpassed the cost of developing the first atomic bomb, landing humans on the moon and the decades-long effort to build the 75,440km (46,876-mile) US interstate highway network.

Unlike these landmark projects, AI funding has not been driven by a single government or wartime urgency. It has flowed through private markets, venture capital, corporate research and development, and global investors, making it one of the largest privately financed technological waves in history.

Global private investment in AI by country, 2013-24:

US: $471bn, supporting 6,956 newly funded AI companies
China: $119bn, 1,605 startups
UK: $28bn, 885 startups
Canada: $15bn, 481 startups
Israel: $15bn, 492 startups
Germany: $13bn, 394 startups
India: $11bn, 434 startups
France: $11bn, 468 startups
South Korea: $9bn, 270 startups
Singapore: $7bn, 239 startups
Others: $58bn