General Catalyst reposted this
90% of startups are investing in AI, but only 54% have it in production—so what's holding them back?* Today, I’m excited to share the findings of our recent AI Adoption survey here General Catalyst. Deep and I surveyed nearly 100 startup CTOs across stage and sector to get a real-time pulse check on AI adoption across their companies during the first half of this year. Maybe not surprisingly, we found remarkable transformation, driven by unprecedented advancements and substantial financial milestones. But, that’s only half the story… Our findings also highlight several non-obvious trends, including: 📈 61% of startups plan to increase their AI investments—on average by 1.5x in the next six months 💊 The healthcare sector boasts a 100% AI adoption rate, yet lags in production ⚙ Larger startups with $100M+ revenue are leading AI deployment at 73% 👥 Employee use of AI tools is skyrocketing—from 27% to 42% in just six months …and much more. Explore more data and our detailed analysis in the full post (link in comments) and comment how your company is leveraging AI — or what’s holding you back. (*Sourced from our survey data)
Funding - we have spent bootstrapped $250k+ and we are not up. We have MVPs on openAI fine tuned and research on Google Cloud and Google Quantum AI.
Nice work Alex Apple Sullivan. My favorite statement: "...in some industries, the stakes are too high for a “move fast and break things” approach." On measuring ROI, the four measurement fronts (Op efficiencies, customer satisfaction, cost reductions, revenue growth) all make sense, but I was a bit surprised to not see 'gaining a competitive advantage' or product differentiation listed. It leads me to ponder that given these AI tools are generally accessible to every company, a particular firm will not be able to use them to gain ground on those two fronts [?].
Thank you for sharing! These are interesting and up-to-date findings. We recently conducted a similar study on a more general scope. The report can be downloaded for free. https://dealpotential.com/insights/2024-ai-adoption-market-report/
There's seldom few that really understand AI shortage of real hardcore AI engineers. VCCross.com
Thanks for sharing this. The conversation around AI got ahead of the implementation of AI. We rarely get to hear how companies are actively using it beyond simple chatbots. But that's changing this year.
Such a great piece! Awesome analysis.
Thanks for sharing! :)
Investor at General Catalyst
1moFull post: https://www.generalcatalyst.com/perspectives/ai-adoption-in-startups