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This week, I’m diving deeper into what generative AI means, or doesn’t imply, for enterprise consumers. I even have some notes on why your organization might need to be like Figma, and the way the investing aspect of the market is adjusting to down rounds being the brand new regular. — Anna
Not-yet-unlocked potential
When The Change regarded into Battery Ventures’ state of cloud software spending report, we began by specializing in what the title promised: contemporary information on cloud software program spend. And it turned out to be extra encouraging than we anticipated.
We then regarded into one other piece of excellent information for founders: that startups constructing tech to automate duties and drive fast productiveness positive aspects would possibly be capable of duck the downturn. It was based mostly on a report information level exhibiting that automation had risen amongst enterprise finances priorities.
However at the back of my thoughts, I additionally stored enthusiastic about a few of the report’s feedback about generative AI — and never simply because superlative takes on the subject have been ubiquitous ever since.
If something, you may name Battery’s view on generative AI conservative, however that might be unfair. In any case, the VC agency was simply relaying findings from its Q1 survey, which gathered responses from 100 C-suite execs (CXOs) managing round $30 billion in spend.