Investors in OpenAI remain optimistic about startup opportunities despite the expansion of ChatGPT. At a Reuters NEXT conference, they emphasized that OpenAI’s recent announcement of AI “apps” doesn’t signal the end for emerging startups working on AI products. Investors are actively seeking new AI products to enhance consumer interactions with technology and tackle deep tech issues such as brain-computer interfaces. OpenAI’s move into personalized AI applications raised concerns among AI startup founders about competition, but investors believe there is ample room for innovation in AI.
Sequoia Capital’s Konstantine Buhler noted that the AI field is still in an intermediary stage of a prolonged revolution, offering significant opportunities for shaping its future.
Avery Klemmer from Thrive Capital, which recently increased its investment in OpenAI, foresees the rise of consumer applications alongside ChatGPT, with the expectation of novel formats and engagement methods emerging.
Despite the ongoing surge in investments in AI, analysts and investors acknowledge that AI product development is still in its early phases. While building applications with large language models remains relatively costly, the accelerated research in this space could lead to a rapid reduction in the cost of AI inference, opening doors for new businesses and empowering various use cases, according to Jill Chase from CapitalG.
