In the second quarter of 2024, a staggering $24 billion in venture capital flowed into AI startups. But where exactly is all that money going? What does the level of investment signify for businesses navigating the AI landscape? And why is this influx of capital something that business leaders across industries should be paying attention to, regardless of their AI maturity?
Courtney Baker, David DeWolf, and Mohan Rao break down the three major categories where AI investment is focused: vertical AI applications targeted to specific sectors, horizontal AI applications that are industry-agnostic, and AI development infrastructure.
David and Mohan highlight why business leaders should care about this surge in funding, emphasizing that it signals the next wave of AI innovation and practical ROI for companies that strategically invest.
One positive sign David sees in this second wave of AI investment is that it’s more intellectually honest and ROI-focused than the initial rush. The first wave was characterized by emotional investment and a belief that AI democratization would lead to guaranteed success. The current trend, however, emphasizes sustainable competitive advantages, domain expertise, and true intellectual property development.
Another area leaders should consider is how this funding may impact the build vs. buy landscape for businesses not primarily engaged in AI. Mohan recommends that companies should focus on building unique capabilities that can’t be purchased while leveraging the applications that recent investments have funded. He points out that businesses need to stay up-to-date with the rapid evolution of AI tools and platforms to make informed decisions.
How Ducky.AI is Changing Knowledge Management and Customer Support
James O’Brien, co-founder of the VC-backed Ducky.AI, shares insights into how Ducky’s AI-powered customer support platform is transforming knowledge management in businesses and explains how AI is augmenting—not replacing—human tasks.
If you’ve ever gone deep down a rabbit hole trying to find answers to questions that you know your organization has already solved many times before, Ducky.AI just may be for you.
James shares his perspective on the broader impacts he sees AI having on the workplace in the coming years. Spoiler alert: he’s a big believer that humans will continue to play an increasingly pivotal role in areas like customer support, where people are seeking real human interaction now more than ever.
As James tells Courtney, “AI is coming for your tasks. It’s not coming for your job.”
Takeaways from an Accenture + Google Cloud Partnership
Accenture and Google Cloud recently announced that their strategic alliance is leading to strong momentum across industries in generative AI and cybersecurity. Notably, 45% of joint client projects have moved from gen AI proof-of-concepts to production. Pete Buer joins Courtney to read between the lines of the press release and help parse out why this stat in and of itself is such promising big news.
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Show Notes & Related Links
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- Sign up for the Knownwell beta waitlist at Knownwell.com/preview
- Connect with James O’Brien on LinkedIn
- Connect with David DeWolf on LinkedIn
- Connect with Mohan Rao on LinkedIn
- Connect with Courtney Baker on LinkedIn
- Connect with Pete Buer on LinkedIn
- Follow Knownwell on LinkedIn
