As OpenAI’s ChatGPT goes viral and “generative AI” becomes a popular buzzword in the business world, many venture capitalists are anxious to join in on the craze.
Generative AIs for content creation, marketing, design, education, and healthcare are released rapidly. For many investors, that’s a good thing as they believe that generative AI can become as ubiquitous as the cloud or the internet.
Grace Isford, a partner at venture capitalist Lux Capital, said that there is plenty more to come.
“We’re at an exciting inflection point for AI — we’re just at the tip of the iceberg for the many vertical uses cases for large language models beyond the creative industries to spaces like biology, manufacturing, and healthcare,” Isford said.
“We’ll likely get to the point where AI will be seamlessly integrated into daily workflows.”
Signal Fire partner Josh Constine added that investors are confident their bets in generative AI will pay off.
“We’re already seeing traditional businesses transformed by the breadth and efficiency of generative AI.”
But down the line, there’s a risk that ChatGPT would lose its luster. Not all generative AI companies have longevity, and not all sectors have problems that generative AI can solve.
Regulation would also be a problem. How can we prevent false information from being released and keep criminals or terrorists from misusing platforms as big as ChatGPT? No one, not even its founder Sam Altman had offered any solution.
As the World Economic Forum highlighted, “It’s still early days for generative AI, and there will still be more new use cases companies will come up with for the technology.”
This means we would all have to witness more companies creating new ChatGPT-inspired platforms to garner support and attention in the next few years.