Bay Watch: AI Boom is Anything but Artificial
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Economy,
As San Francisco and other cities across the region continue their post-pandemic economic recovery, the growth of the AI industry has been a remarkable bright spot. The region’s deep talent pool, world-class research institutions, and venture capital ecosystem have fostered an environment where AI startups emerge and thrive. 2023 has already been a record year for VC investment in generative AI startups: 86 deals have yielded $14.1 billion in funding, almost 6x the amount of funding companies received in 2022. And, of the top 50 generative AI companies, 50% of them are headquartered in the Bay Area, with 12 in San Francisco alone.
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