![]() ![]() Much like Mosaic and the iPhone, we may look back at the launch of ChatGPT as a transformational moment. Simon Says: Generative AI is here to stay.Įxpect more AI unicorns in the years ahead. So to get some perspective on what the evolution looks. It started producing better end results.”Īnd just to put a bow on OpenAI, its valuation stands at $29 billion. ARI SHAPIRO, HOST: Every industry changes with new technology, and changes to the TV industry are one reason writers are on strike right now. In the words of co-founder and CEO Dave Rogenmoser, “About two years ago, we realized (AI) had crossed a threshold. In October 2022, it raised $125 million, valuing the company at $1.5 billion. Jasper is an AI copywriting app for marketers. OpenAI’s valuation stands at $29 billion. Recent advances (such as ChatGPT) have convinced some grizzled skeptics of its capabilities, but don’t believe me. Beyond that, AI has matured considerably in recent years. CXOs Get Itįirst, workers are expensive, demanding, and finicky about where they work. As for why I suspect that several forces are at play. Over three-quarters (78%) of the executives we surveyed-and almost all (96%) of the leader group-say that scaling AI and machine learning use cases to create business value is their top priority for enterprise data strategy over the next three years.ĭespite the report’s stilted language, it’s clear that the C-suite increasingly recognizes the vast potential of AI. The surveyed companies’ data and AI strategies are closely interlinked. The topics included enterprise systems, AI, and their strategic plans. In September 2022, the MIT Technology Review released the results of an extensive survey of CIOs and other business leaders. But what about the people who are making budgeting and spending decisions? Are they buying into the AI hype? Investors clearly see AI dollar signs, but what about generative AI in particular? The top dogs at the prominent VC firm Sequoia Capital believe it “has the potential to generate trillions of dollars of economic value.” Pitchbook reports that VCs have increased their investment in generative AI by 425 percent since 2020 to $2.1 billion. Over the last nine years, there’s been a precipitous thirty-fold, inflation-adjusted rise in AI investment: In 2012, that number was less than $3 billion. ![]() The Organization for Economic Cooperation and Development reported that the global annual value of VC investments in AI firms in 2020 was $75 billion. Simon Says is a transcription, subtitling, translation, and captioning tool that allows users to streamline their workflow, save time, and increase efficiency. Ask yourself two questions: Where are venture capitalists placing their bets? And how significant are those amounts?Įstimates vary, but here are a few. ![]()
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