The investors also discussed the future of AI, with Jai Das from Sapphire Ventures noting that we are in the early stages of the generative AI era. Deep Nishar from General Catalyst emphasized the impact of AI on non-technical people, while Erin Price-Wright from Index Ventures highlighted the quick adoption of ChatGPT. The investors also discussed the potential for AI to transform existing companies and industries, with Daniel Levine from Accel predicting that AI could be a game-changer for many companies.
Key takeaways:
- AI startup investors are focusing their efforts on tools required to manage foundation models and data, and application-layer software applying these models for consumers and businesses.
- ChatGPT, an AI tool, has seen massive adoption by consumers and has sparked the interest of non-technical people, reaching 100 million users.
- AI adoption is predicted to be faster than previous platform shifts like mobile and cloud computing, with AI companies forming at an increasing rate.
- Investors are seeking companies that are building domain-specific models on top of private data sets, and predict that AI will have a dramatic impact on many existing companies, potentially replacing existing software players.