The Rise of AI

Published on February 26, 2024

Since the launch of ChatGPT and other AI tools in the last year, the world has discovered that true generative AI is not a thing of the future, relegated to Science-Fiction: it is here, and it is now.

It is no surprise that investment in artificial intelligence has skyrocketed last year. A 2023 report by Crunchbase indicated that over 25% of startup investments in the US went to AI-related ventures, more than double AI-related ventures' average share of start-up funding for the previous 5 years.

However, start-ups and their backers are not the only players throwing their hat in the ring. Data from Simon-Kucher’s Global Software Study shows that nearly all SaaS executives’ companies are investing in generative AI and/or Large Language Model (LLM) technology, and nearly half of respondents are investing at least $5M per year.

SaaS companies believe that AI is a…

Software study blog 4 image

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