How the new AI age will shape our tech
A new dawn in tech has arrived: The generative AI craze has taken hold—and it’s showing no sign of letting up. What does this new epoch mean for investors and the companies into which they pour their capital? Our latest analyst note, the Emerging Tech Future Report: Generative AI, dives into how the new technology may transform a range of verticals. PitchBook analysts who cover health, ecommerce, fintech, climate tech, and more weigh in on the opportunities in generative AI.
https://pitchbook.com/news/reports/q2-2023-emerging-tech-future-report-generative-ai?utm_campaign=analyst_note&utm_medium=newsletter&utm_source=research_pitch&utm_content=q2_2023_emerging_tech_future_report_generative_ai
| In a year marked by slow economic growth, rising inflation, war in Europe, and a massive pullback in financial market activity, few expected AI to take center stage.
While the collapse of SVB and the banking crisis felt like part of the economic script we were expecting, the ability of a single webpage—not even an app!—to rapidly capture global attention is truly one of the most remarkable and unlikely stories of 2023.
On an enterprise level, organic adoption of ChatGPT is already widespread. (For example, I used it to help edit this intro.) Yet scaled generative AI deployments for functions other than internet search tools remain scarce.
Nonetheless, there has been a notable explosion of AI applications in the months since ChatGPT was launched—including the mind-bending AutoGPT—and the realization that the tech is (mostly) free for all means every organization has to “game theory” around the idea that their competitors are using it to find an edge.
To help explore these emerging enterprise use cases, we published research describing some of the ways generative AI could be applied across various industries. These include the mundane (forecast analytics), the tantalizing (personal shoppers), the world-changing (precision agriculture), and the existential (virtual humans).
But despite these compelling—and seemingly attainable—use cases, corporates face significant hurdles to integration. While the conversational aspects of generative AI have taken the world by storm, much work still needs to be done marrying it with correct data in a verifiable and trustworthy way.
There are also significant legal conundrums related to privacy, intellectual property, copyrights, and service agreements with cloud vendors. Yet, sentiment in the tech world suggests that these obstacles are surmountable and venture investment into generative AI startups has been ramping up.
While OpenAI may not deserve the credit for creating transformer architecture technology, it does get the award for making it something the masses can now easily comprehend and engage with.
Indeed, the genie could not be more out of the bottle. |
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