The startup's growth reflects the increasing demand for generative AI, with IDC projecting that investments in the technology will rise from $16 billion this year to $143 billion in 2027. However, the report also highlights challenges in deploying the technology, including unexpected outcomes, security, safety, fairness, bias, privacy, and legal issues.
Key takeaways:
- Pika, a startup that uses AI to edit and generate videos, has raised $55 million in a funding round led by Lightspeed Venture Partners.
- The funding comes as Pika launches its new suite of videography tools, Pika 1.0, which uses a generative AI model to edit videos in various styles.
- Pika was co-founded by Demi Guo and Chenlin Meng, both former PhD students in Stanford’s Artificial Intelligence Lab.
- Despite the growing interest in generative AI, a report reveals that many corporate AI adopters are still in the early stages of piloting generative AI and are concerned about potential challenges such as unexpected outcomes, security, safety, fairness, bias and privacy.