The AI industry has seen a surge in startups building generative AI tools, following the launch of OpenAI’s ChatGPT in late 2022. These companies have raised billions from venture capital firms and tech giants like Amazon, Google, and Microsoft. The demand for public offerings from AI-related companies has also increased, as seen with Reddit's successful IPO. AI is also significantly impacting the payments industry, with companies like Visa and American Express integrating AI into their operations and strategies.
Key takeaways:
- Several AI startups are considering going public, according to Michael Harris, global head of capital markets at the New York Stock Exchange.
- Most of these startups are engaged in enterprise products and their public listings may not happen this year.
- The launch of OpenAI’s ChatGPT in late 2022 led to a surge of AI startups building generative AI tools and raising billions of dollars from venture capital firms and tech giants.
- AI technology is significantly impacting the organizational structure of nearly every company in the payments industry, with Visa and American Express among those integrating AI into their operations.