Thanks to AI, Business Technology Is Finally Having Its Moment
Menlo Park, Calif.—The generative AI boom reflects a period of tech innovation that is ideally suited for revolutionizing the business world—unlike previous tech booms that favored the creation of big tech companies that served the consumer market. The period of innovation that took off around 2007 made use of social media and app stores to help startups achieve scale in the consumer market, according to Hemant Taneja, managing director and CEO of venture-capital firm General Catalyst, speaking Tuesday at the Wall Street Journal’s CIO Network Summit in Menlo Park, Calif. This time it is different, Taneja said.
Generative AI is less suited to quickly building mass audiences—it doesn’t create a platform of users. But it is ideally suited for transforming large organizations by making people and processes radically more productive. “When the social mobile cloud started in 2007, mobile was a big distribution advantage, you could go out and acquire customers, letting them take advantage of the global supply chain and build these full stack companies.
AI doesn’t give me any of that. It really is a transformation advantage," Taneja said. He added, “The bulk of the value is to me about what is the role of AI in transforming both from a vertical standpoint and from a business function standpoint.
Read more on livemint.com
