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What Investors Predict for AI in 2024

Feb 20, 2024 - time.com
The TIME100 Most Influential Companies list recognizes businesses making significant global impact, with AI-related startups raising nearly $50 billion in 2023. In 2024, share prices for firms involved in manufacturing advanced chips for powerful AI models have soared. At the World Governments Summit, tech entrepreneur Divyank Turakhia warned of a "winner takes all" dynamic in the AI industry, where only the top companies will thrive while others struggle to scale. Cyrus Sigari, co-founder of UP Partners, predicted that robotics could be the next AI breakthrough, with real-world applications possibly emerging this year.

However, making accurate predictions about AI is challenging, as expectations can change rapidly, according to Sriram Krishnan from Andreessen Horowitz. He compared the current moment to the dawn of the internet, suggesting we are living through a similarly transformative era. The article also mentioned reports of OpenAI CEO Sam Altman's attempt to raise $7 trillion for AI infrastructure as a sales tactic rather than a genuine request.

Key takeaways:

  • AI-related startups raised nearly $50 billion in 2023 and share prices for firms involved in AI chip manufacturing have significantly increased in 2024.
  • There's a 'winner takes all' dynamic in the AI industry, where the top few companies will dominate the market, potentially causing trouble for startups and their investors.
  • Robotics, particularly humanoid robots, could be the next AI breakthrough, with real-world applications potentially appearing as early as this year.
  • Despite the rapid progress, making specific predictions about AI is challenging, but the current moment is considered crucial, akin to the advent of the internet in the mid-90s.
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