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The Growth of AI-Driven Companies in 2020–2024

Andrius Ziuznys

Updated on May 22, 2024
Published on Jun 23, 2023
Data Digest #9

With the advent of ChatGPT, the number of new AI tools, plugins, and inventions has risen enormously. The internet is exploding with AI news. Consequently, we have prepared a data analysis about AI-driven companies and their growth.

This research analyzed 67 million company records from the most popular professional network.

All selected businesses had the keywords “Artificial Intelligence,” “Artificial General Intelligence,” “AI,” or “AGI” in their specialties.

Top 5 countries with the most AI-driven companies

Unsurprisingly, data shows that the US has the highest number of AI-driven companies founded between 2020 and 2024.

Top 5 countries with the most AI-driven companies

Important: This graph only shows companies founded between 2020 and 2024.

What did surprise us was Canada surpassing Germany which is more than two times larger by population. Let's see how this Top 5 looks when we count new AI-driven companies per 10M inhabitants:

  1. UK – 407
  2. Canada – 339
  3. US – 283
  4. Germany – 141
  5. India – 32

Adjusted to population, the UK leaves all other countries behind, moving from the third place. India drops to the last place due to its humongous society.

How many new AI-driven companies were founded in 2020-2024?

At the time of writing, we only had 2024 data until May. Assuming that the growth rate remains the same, it's highly unlikely that by the end of the year, the number of newly AI-driven companies will exceed that of 2023.

Does that mean that we've seen the peak of such new businesses? We believe it's too early to tell.

For all we know, we can have a second wave of AI companies in a few years or so. And let's not forget that such spikes go hand in hand with technological advancements. ChatGPT was launched on November 30, 2022, and who knows when the next-gen AI will become available.

Newly founded AI companies 2020-2024

Top 10 largest AI-driven companies by headcount

So, what are those AI-driven companies? And do we know any of them? Let's check the Top 5 largest businesses listed in the graph below.

1. DL Community

DL Community, based in London, is more than two times bigger than its closest competitor. However, its 6,396 employees are associates on the largest professional network. There are actually no more than 10, and their only post on General adversarial networks (GANs) is almost a year old.


Next comes, a platform for finding a mentor. Again, it's not very clear what role AI has in this company—maybe some of them offer to share their knowledge of this topic. However, it does offer a course on powering your portfolio with AI and a GenAI discussion.

3. Ascendion

In third place, we find Ascendion, a company that clearly states it uses Generative AI to solve digital engineering and business problems. It has 30 offices in Mexico and India, with its headquarters in the US. While around 2,500 affiliated members are in the largest professional network, its actual workforce ranges from 5,000 to 10,000.

4. JetBrains

JetBrains is fourth with a 1,001-5,000 employee range. Based in the Czech Republic, they build software development tools with over 30 products under their belts. Furthermore, JetBrains has its own AI that integrates into other software and provides context-aware assistance.

5. Cybersecurity Experts

It's not a company but a community in the largest professional network. Founded in 2022, Cybersecurity Experts have one post published so far. However, some of their specialties include AI Security.

Top 10 largest AI-driven companies

Top 5 AI-driven industries founded in 2020-2024

Now, we know that quite a few AI-related companies have started in the last five years. We also know what the 10 biggest businesses do. But what about the rest?

We've decided to sort these companies according to their industry. However, we excluded IT/Tech firms, which comprise the majority, and started with #2—Business Consulting and Services. You can see the rest in the graph below.

It was really nice to find the Education sector. This means that the latest technologies are being implemented in the learning process and you can also learn about them. Who knows, maybe next year, job postings will move from requiring MS Office to AI skills.

AI-driven industries 2020-2024

The growth of AGI-related companies

At the time of this research, 216 registered companies mentioned Artificial General Intelligence (AGI) in their specialty descriptions. In contrast to AI built for a specific purpose, AGI is capable of doing a range of tasks, often better than a human would.

What’s interesting about this is that the first company was founded way back in 1980. However, there were only 17 of them globally until 2010. As one may suspect, most of the AGI businesses (121) were registered starting in 2020.

Growth of AGI-related companies


As more people talk about AI and AGI, it’s no surprise that there is growth in companies focused on these technologies.

However, it’s worth noting that not all these companies may exclusively work on developing AI and AGI. Some may simply use AI as a tool.

That's why we’re not making any loud claims about the exact number of new AI companies. We only show what our data tells us, which is based on what we've found on the largest professional network.

Please note that China was excluded from the research because it has limited access to our source. Therefore, we decided not to risk distorting the data.