Generative AI taking over 2023 As the most important emerging branch of AI, Generative AI has not only captured the world’s attention, but it has also captured a signi昀椀cant share of overall AI investment too. The share of AI investment speci昀椀cally allocated to Generative AI companies has taken a major step forward in Europe, hitting 11% in 2013, but a giant leap in the US, where Generative AI now accounts for more than half (60%) of all AI investment. Share (%) of capital invested in GenAI to total AI / ML capital invested in Europe and US, 2019 to 2023 Europe US 70 60 I A n e 50 G n i d e t s e 40 v n i l a t i p a 30 c f o ) % ( e r 20 a h S 10 0 2019 2020 2021 2022 2023YTD Notes: Data is as of 30 September Sources: 2023. Excludes the follow- ing: biotech, secondary transactions, debt, lending capital, and grants. | 152