In startup news, Airchat, a high-tech walkie-talkie app, is gaining popularity on the App Store. Noname Security, a cybersecurity startup, is being acquired by Akamai Technologies for $500 million. Humane is pitching a $699 wearable, the Ai Pin, and Betaworks is developing AI agents designed to automate mundane tasks. In fundraising news, HR tech company Rippling raised $200 million in fresh capital, spend management startup Ramp secured another $150 million, and therapy startup Two Chairs received a $72 million cash infusion.
Key takeaways:
- The AI industry is experiencing a significant slowdown in investment, with overall investments dropping by 20% in 2023 compared to the previous year, according to a report from Stanford’s Institute for Human-Centered Artificial Intelligence (HAI).
- Despite the general downturn, certain segments like generative AI continue to attract significant funding, indicating a selective yet substantial interest in specific AI applications.
- Investors are becoming more selective and are now more interested in seeing real, solid returns rather than just investing in hopeful growth.
- Despite the slowdown in investment, there is still a strong belief in the future of AI, especially in ways it can boost efficiency and spark innovation across different sectors.