VentureBeat May 27, 2023
Generative AI (Gen AI) is the buzzword of the year, gripping the global tech ecosystem. Leading VC Sequoia declared that gen AI could “generate trillions of dollars of economic value,” and thousands of businesses, from Microsoft to Fiat, have raced to integrate the technology as a way to speed up productivity and deliver more value for customers.
Any nascent sector like generative AI, as was the case with Web3, also brings with it plenty of predictions about just how big it can/will become. The global AI market is currently worth $136.6 billion, with some estimating that it will grow by 40% over the next eight years. Even an overall slowdown in VC dealmaking has made an exception for Gen AI,...
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