TLDR:
- AI startups accounted for 40% of total venture funding in May.
- Investors advise startups to avoid overusing the term “AI” in their pitches.
Founders and CEOs should be cautious when emphasizing their company’s use of AI, according to two Seattle-area venture capitalists. Over-branding in AI can make a company appear unserious to investors and customers. Heather Redman, co-founder of Flying Fish, believes AI should be a part of a company’s strategy without overstating its role. Anoop Gupta, CEO of SeekOut, mentioned that companies don’t necessarily need AI experts to take advantage of generative AI. The article also discussed the importance of focusing on solving customer problems rather than just highlighting technology. While some investors have specific criteria, such as having a PhD on the team, others believe that a smart engineer or computer scientist can learn and excel in AI. It was shared that the best generative AI engineer on a team is not necessarily someone with advanced AI experience, highlighting the importance of problem-solving skills and experimentation. The article also featured insights from Vikram Chalana, CEO of Pictory.ai, who humorously mentioned that his startup literally has “AI” in its domain name, reflecting differing perspectives on AI branding in the startup ecosystem.
