State of AI Report

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State of AI Report 2025

State of AI Report 2024

State of AI Report 2023

State of AI Report 2022

State of AI Report 2021

State of AI Report 2020

State of AI Report 2019

State of AI Report 2018

Collaboratively produced in East London, UK by:

Nathan Benaich

Ian Hogarth

 

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The State of AI 2025: Insights from Nathan Benaich at Air Street Capital
Oct 9, 2025

The State of AI Report is the most widely read and trusted analysis of key developments in AI. Published annually since 2018, the open-access report aims to spark informed conversation about the state of AI and what it means for the future. Produced by AI investor Nathan Benaich and Air Street Capital.

In short, it’s been a monumental 12 months for AI. Our eighth annual report is the most comprehensive it’s ever been, covering what you need to know about research, industry, politics, and safety - along with our first State of AI Usage Survey of 1,200 practitioners. The State of AI Report has become the most widely read and trusted report on AI progress and is our open-access contribution to the AI ecosystem.

In true State of AI Report style, let’s dive into the Research section. 12 months on, OpenAI still leads, but the pack has closed in fast. China’s DeepSeek, Qwen, and Kimi sit within a few points on reasoning and coding. While the US holds the frontier, China is now a credible and popular #2.