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Investors are still hunting for new AI products that could help
consumers interact better with the technology and address deep
tech issues such as brain computer interface, they said.
The owner of the wildly popular ChatGPT chatbot earlier this
week unveiled a marketplace that allows users to access
personalized AI "apps" for tasks like teaching math or designing
stickers.
The news sparked fear among AI startup founders who worry they
will not be able to compete with OpenAI, which is trying to
build an AI empire with products aimed at both consumers and
enterprises.
"There's so much room for continued innovation in AI. We're in
an intermediary step in a decades-long revolution," Konstantine
Buhler, partner at Sequoia Capital, told the conference. "You
can play a very big role in how this is shaped."
Sequoia invested in OpenAI in 2021, the maker of ChatGPT, in
which Microsoft also has a larger stake.
Avery Klemmer, partner at Thrive Capital, which recently
increased its investment in OpenAI, also said she sees
opportunities for the rise of consumer applications beside
ChatGPT.
She expects more innovations based on the existing format of AI
chatbots popularized by ChatGPT.
"I think there will be really novel formats and forms of
engagement that get invented," Klemmer said.
Despite recent frenzied investments into the technology by
companies and venture capital firms, analysts and investors say
development of AI products is still in the early stages.
While it's still relatively expensive to build applications
using large language models, the accelerated pace of research in
the space could result in a rapid decline in the cost of AI
inference, or using an AI model to make predictions, and inspire
new products, Jill Chase, partner at CapitalG, told Reuters
NEXT.
"The cost of inference coming down so dramatically may seem like
a small thing, but it's hugely impactful for what types of
businesses can be created and what use cases incumbents can
empower," she said.
(Reporting by Krystal Hu in New York; Editing by Sayantani Ghosh
and Deepa Babington)
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