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The use of artificial intelligence (AI) has become quite widespread among companies according to new findings from Statistics Iceland. Approximately half of all companies use some form of AI technology or software. However, a much lower percentage of companies can specify the particular tasks for which the technology is used, and even fewer have formulated a formal policy regarding its use.
Publication of a news release on information and communication technology 2024, which was scheduled today 3 March 2026 has been postponed until 10 March.
Estimated total expenditure on research and development in 2024 amounted to over 113.5 billion ISK, which is equivalent to 2.48% of gross domestic product (GDP). This is a slight decrease compared with real data from 2023, when the last study was conducted.
Total expenditure on research and development (R&D) in 2023 amounted to nearly 114.6 billion ISK, which corresponds to 2.65% of gross domestic product (GDP), almost the same proportion as the previous year.
In the years 2020-2022 during the Covid-19 pandemic, only 48% of Icelandic companies introduced new or improved products, new or improved business processes or worked on other innovative projects. This was a significant decrease from the previous reference period of 2018-2020 when 74% of businesses were considered innovative.
The total expenditure on research and development in 2021 was roughly 91 billion ISK, which is equivalent to 2.80% of the gross domestic product (GDP). This is the highest proportion measured since Statistics Iceland took over the administration of the statistics in 2014.
In the years 2018-2020, 74% of Icelandic enterprises introduced new or improved products, new or improved business processes or worked on innovation of products without it resulting in products being introduced to the market within the period.
R&D expenditures in the business enterprise sector, higher education sector and the government sector were 72.7 billion ISK in 2020 or 2.47% of GDP. R&D expenditures were 70.8 billion ISK in 2019 or 2.32% of GDP while the 2018 expenditures were 56.9 billion ISK or 2.0% of GDP.
In 2019, 44% of enterprises in wholesale and retail were selling goods or services through websites or apps. Preliminary figures indicate that the percentage has increased to 56% in 2020.
R&D expenditures in the business enterprise sector, higher education sector and the government sector were 70.8 billion ISK in 2019, or 2.35% of GDP.