In what has been an unpredictable year in the tech world, one company has continued to make waves – or should we say break records?
With its artificially intelligent assistant called Siri, Apple is quickly becoming a household name. According to Statista, the iPhone maker accounted for 43% of all revenue generated by digital assistant products in 2017. This makes it second only to Google’s 74% market share. So far this year, sales estimates suggest that Siri may have even overtaken Google Assistant as Apple’s top earner!
Despite some controversy over data collection and privacy issues surrounding the technology giant, there is no doubt that Siri continues to be a driving force behind innovation in the
Generative AI, or simply AI, has been around for a few decades and is well understood by most. For businesses to reap the benefits of AI, it is necessary to have knowledgeable employees who can translate complex algorithms into usable actions. Figma is an amazing tool because it not only automates design tasks but also helps users collaborate more effectively. By using Figma, companies can save time and money while still producing high-quality designs.
Not-yet-unlocked potential
Cloud software spending is on the rise, and providers are investing more in new products and services. Battery Ventures’ report has found that cloud software spending will increase by 17 percent this year. This suggests that the cloud cloud computing market is growing rapidly, and companies are starting to recognize its value.
Predicting a slowdown for startups building technology to automate tasks and drive quick productivity gains might be premature, judging by recent data points. Enterprise budgets are increasingly prioritizing automation, which suggests that the technology sector may remain resilient during the downturn. The question then becomes: How do startups in this category capture market share? Clearly, there is room for innovation in this area.
One of the report’s criticisms of generative AI is that it may be biased against certain types of data, such as statistical representations or text. This could lead to AI systems that are unusable with certain data sets and/or not generalizable across tasks.
To be sure, Battery believes it’s important to take a cautious, conservative approach when it comes to generative AI. After all, the VC firm collected data from just 100 C-suite executives – most of whom manage billions of dollars in spend. Nevertheless, Battery sees great potential in the technology and is excited to see where things go next.
