Malta has more AI startups per capita than the US

"Foresight in recognising the importance of AI has given Malta a head start in the field of AI," says Prof. Alexiei Dingli.

A report by Business Insider, a major financial and business news website headquartered in New York City with a global audience, reveals that Malta boasts a higher concentration of Artificial Intelligence startups compared to the United States. In Malta, there is one AI startup for every 9,500 residents, whereas in the US the ratio is one AI startup for every 14,000 residents. The portal based its conclusion on data provided startup tracker Tracxn Technologies. Malta has a total of 56 AI startups while the US has 24,000.

Reporting how in Malta businesses, universities, and the government are embracing AI as a way to automate tasks, improve education, and even address rush hour traffic jams, the report notes that the country “began pouring money into artificial intelligence before the ChatGPT-fueled AI arms race began.”

Quoting Bloomberg, Business Insider added that, in 2019, Malta outlined a vision to be the ‘Ultimate AI Launchpad’ by 2030. The goal was for Malta to become “a place in which local and foreign companies and entrepreneurs can develop, prototype, test, and scale AI, and ultimately showcase the value of their innovations across an entire nation primed for adoption.” AI would “springboard from Malta to the world”. Those efforts stalled between the pandemic and a turn of the political administration. Now, under the EU’s AI Act — a sweeping European AI legislation which bans unacceptable use cases — Malta is working on a new AI strategy.

Leading the charge in this renewed focus is ensuring the safe implementation of AI. This includes developing initiatives to address potential job displacement and establish ethical frameworks for its use.

“Foresight in recognising the importance of AI has given Malta a head start in the field of AI, and it continues to be a leader in the industry today,” said Alexiei Dingli, a professor of artificial intelligence at the University of Malta, who’s leading Malta’s endeavours, including a pilate project aimed at solving the country’s serious traffic jam problem.

Apart from the Business Insider, more than 30 other news portals around the globe have recntly carried stories about Malta’s leadership position in the AI startup sector.

Photo: Getty Images

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