So say the expert analysts at Capital Economics, a financial research firm based in London.
The three categories were then combined to calculate a global ranking.
Unsurprisingly, the US topped the charts, but there were some shockers in the chasing pack.
It’s free, every week, in your inbox.
Among them was the relatively low position of China.
InEurope, meanwhile, the outlook is mixed.
Leading the continent is the UK, which ranked third globally, behind only the US and Singapore.
The UK could benefit from lighter-touch regulation.
The study team gave several reasons for Britains loft position.
Another innovation engine is GoogleDeepMindspioneering AI lab, which is based in London.
Britain may be further impacted by its position outside of the EU both positively and negatively.
Taking fourth spot is Switzerland, while Sweden bagged fifth.
Both countries were particularly strong in adaption, ranking first and second in the world, respectively.
This essentially means that they have a good track record on redeploying resources, Kenningham said.
But they both lagged far behind China and the US a common issue in Europe.
Outside of the continents three leaders, the European landscape is considerably bleaker.
One of the gloomiest areas is a scarcity of financial backing.
A further obstacle is the continents sparsecloudinfrastructure, which provides essential foundations for AI.
There also remain several enduring barriers.
Collectively, these components restricted growth during the 1990s ICT boom.
In the AI era, they may create even greater hindrances.
To emphasise this point, the study team note the impacts of EU tech regulations.
A prominent example recently emerged with the release of Bard, Googles answer to OpenAIs GPT.
Due to concerns over GDPR compliance, Bardarrivedin over 100 countries before the EU.
Protecting the public doesnt always like businesses or the economy.
The future is not set
Theres still time to move up or down the rankings.
Capital Economics expects the big impacts to come in the late 2020s and 2030s.
The researcher also championed the UKs provision of fiscal aid for academic and commercial research.
Story byThomas Macaulay
Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he e(show all)Thomas is the managing editor of TNW.
He leads our coverage of European tech and oversees our talented team of writers.
Away from work, he enjoys playing chess (badly) and the guitar (even worse).
