The Upfront Summit is quickly becoming one of the most popular venture conferences in the country, thanks in part to its focus on Artificial Intelligence. This year’s conference was no exception, with a lineup of companies and experts discussing everything from how AI will impact business to the ethical implications of creating increasingly intelligent machines. But it was clear from the start that star of the show was AI itself. From a marching band playing patriotic tunes before coffee to a DJ coding her beats on stage, there wasn’t a dry eye in the house as speakers shared their insights into this rapidly changing industry.
It’s still too early to trust blindly when it comes to artificial intelligence, but the upfront summit taught attendees that AI is an intriguing sector to invest in. The founders of Upfront Summit recommend carefully researching any company before investing, as the technology is constantly changing and there are many unknowns. However, they believe that if done correctly, AI can both help businesses and employees alike.
Some entrepreneurs are skeptical that the current slow-down in venture capital will last and that there will be a return to earlier investment levels. Others say that the current slowdown is more about investing fatigue than any underlying issue with the market for digital resources.
Since AI has recently been humbled, companies are going to take a different view when it comes to their fundraising plans. On one hand, some may see the downturn as an opportunity to develop new and incredibly ambitious moonshots. On the other hand, most entities will be more cautious in their ability to raise large sums of money in short order. In either case, this is a valuable lesson for those charged with executing on company visions – moonshot ideas are important but they should not be pursued at any expense.