After a year of people throwing money at AI companies, investors are now looking for startups that are more solid and viable. That could prove daunting for AI founders: AI is expensive to build and maintain.
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SymphonyAI CEO Sanjay Dhawan offers some tips on how to build a strong foundation for a profitable AI startup. His first tip? Be realistic about your cost model.
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Generative AI isn’t a home run in the enterprise
Ah, we’ve found the one place that’s slowing down when it comes to generative AI: the enterprise.
According to a Boston Consulting Group survey of 1,400 executives, almost 70% said they’re ambivalent or dissatisfied with the progress their orgs have been making on generative AI. Though they still see it as a priority, factors like no roadmaps or strategies and a lack of talent are preventing those surveyed from jumping all in. “The results put into sharp relief the high degree of enterprise skepticism surrounding AI-powered generative tools of any kind,” writes AI reporter Kyle Wiggers.
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Startups must use investors’ operational expertise to solve inefficiencies and scale up fast
Founders and investors should forge relationships beyond just the finances. Having an investor on the board could help accelerate growth, but knowing where the board member’s responsibilities begin and end is not always clear.
Vineet Jain, CEO and co-founder of Egnyte, a leading cloud-based collaboration and governance platform, offers some advice on how to navigate these conversations.
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