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Today:
💰 AI outpaces every industry with $17.9B raised in Q3
Read Time: 4 minutes
Our Report: AI startups have significantly outstripped other tech industries in terms of funding during Q3, pulling in $17.9B during a time when overall startup deals are witnessing a downtrend globally.
🔑 Key Points:
AI companies registered a 27% increase in funding compared to the prior year, raising $17.9B during Q3—pretty noteworthy, given the 31% global drop in overall startup deals ($73B).
Generative AI technology has been a particular point of attraction and has led investors to pour billions into leading businesses, whilst categories such as IT hardware, healthcare services, and consumer goods have all seen a sharp decline.
Many venture capitalists have compared the current boom in AI to the introduction of the internet, labeling it the HTML moment for generative AI (I think we could come up with a better name).
A recent Pew research report found that 56% of US adults had heard very little about ChatGPT—so, we’re still a while off mass adoption, and if you’re using AI daily, you’re still ahead of the curve.
Why you should care: The rise of AI startups indicates a shift in technological investments and priorities, with many VCs and Angel investors optimizing for vectors with exponential growth curves. Financially, it seems like the smart move—If you’d invested in NVIDIA 5 years ago, you’d be up 678%.
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KickResume is the world’s most powerful AI resume builder ✨
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✅ Event Planning
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"Assist in planning and coordinating logistics for guest speakers, exhibitors, or VIP attendees."
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"Assist in planning and coordinating the intricate logistical arrangements required to ensure the smooth participation of guest speakers, exhibitors, or VIP attendees in a high-profile event or conference. This multifaceted role involves meticulous attention to detail and a keen understanding of event management, as you will be responsible for orchestrating every aspect of their participation, from initial contact to post-event follow-up.”
The Mercer CFA Institute's global pensions report suggests that AI can enhance pension performance by reducing expenses, pinpointing potential risks, and spotting irregularities.
While AI offers the potential for more effective decision-making in investments, risks include AI generating misleading data in unfamiliar contexts and susceptibility to cyber attacks on pensioners' information. Would you trust an AI model to handle your pension?
New US regulations, that extend the October 2022 rules that stopped Nvidia from selling its H100 chip to China, have now blocked Nvidia from exporting its H800 AI chip to China (was only created to circumvent the H100 chip restrictions).
The Department of Commerce claims these changes are to enhance control effectiveness and address national security concerns, with recent reports highlighting Chinese military procurement of US-manufactured AI chips.
Kashmir Hill (a NYT journalist) discussed the implications of facial recognition technology, primarily highlighting the operations of Clearview AI—a secretive startup that created an advanced facial recognition system used by police and corporations worldwide.
Notably, Clearview has scraped billions of online photos, to build a vast database of faces, likening itself to the "Google of facial recognition." Whilst this has many positive implications, such as easily identifying criminals, it does raise data privacy concerns. What’s your thoughts?
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🗽 NYC Mayor uses AI to make robocalls in languages he doesn't speak
💰$57M raised to integrate AI with commercial trucking insurance
🕶️ 3 things people hate about the Ray-Ban x Meta AR glasses
📸 AI image generation is 7x faster on PCs with NVIDIA GPUs
👩🏼🦽 How AI can help people with motor disabilities
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Until next time, Martin & Arturo.
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