Israel Third In World For GenAI Companies, IIA Study Finds 

Israel ranks third in the world for companies using generative artificial intelligence (GenAI), according to a new report by the Israel Innovation Authority (IIA), the branch of government dedicated to advancing the national high-tech sector. 

GenAI is a subset of artificial intelligence focused on creating content, analysis and solutions beyond its explicit programming. GenAI can also understand, learn and generate actions based on complex patterns and data. 

According to the IIA report, 4 percent of global GenAI companies are Israeli, coming behind just the United States (886 companies) and the United Kingdom (93 companies). In real terms, this translates to 73 Israeli companies. 

The findings were presented by Israel Innovation Authority CEO Dror Bin at this summer’s AI Week at Tel Aviv University. 

The IIA used US data firm PitchBook to determine what constitutes a GenAI company and to create a list of the firms currently operating in this field.  

To ensure that it had included every relevant company, the IIA cross-referenced the PitchBook data with information from business research and analysis platform Crunchbase. 

Presenting the findings, Bin also highlighted the challenges of growing global competition in this field, and stressed the importance of continued investment in Israel in R&D, human capital and international collaborations.