CRUXY took to Web Summit 2017 to see where top investors are putting their money in 2018.
AI is not a fad, businesses need to adhere to get ahead
Investors are realising that AI is not a fad, but a new foundation on which tech firms and businesses should be leveraging themselves.
AI is a buzzword in the echo-chamber of business news, from autonomous vehicles to Google’s Alphago, but one that requires to be taken seriously. Whether in Beijing, Silicon Valley or London, the companies’ investors will support must have AI.
Jim Breyer, founder of Breyer Capital, acknowledged that 7 out of 10 of the most valuable companies are tech-internet companies, and in Financial services alone, hiring people from MIT into these companies is now the norm with demands of AI and machine learning needing to be met. If these companies are founder driven and meet this change with intensity to build on top of their existing platforms, they will be successful.
Follow in China’s AI-embracing footsteps to attract investment
The appetite for AI cannot be separated from China. When it comes to AI implementation, AI are giving the entire world a run for its money, a chase reminiscent of the space-race in the 50s.
Founders should cease the opportunity to enter into china, in the right way, to triple what you are doing in a short period. The scale of AI in China is incomparable, with education and healthcare being impacted heavily. You can learn and apply what’s happening there to other regions, and investors are aware of this scalability.
What about ICOs?
Dana Settle, of Greycroft Group highlighted the investment opportunities in Crypto, indicating that investors heavily consider how this tech will impact the companies investors are considering. Developing economies will subsequently leapfrog to this as being standard.
ICOs are commonly seen as a threat to the VC’s business model. Breyer noted that crypto is unstoppable, and ICOs heavily fund innovative science projects & ideas. However, scalability will be achieved successfully by VC’s. ICOs are not threatening VCs, but rather acting as a complimentary counter-part. ICOs offer initial funding, but when scale needs to happen, a natural progression will be for VCs to step in.