Sequoias Sonya Huang: Generative AI hype absolutely justified
Research from Goldman Sachs suggests that gen AI has the potential to automate 26% of work tasks in the arts, design, entertainment, media and sports sectors. Just as electricity has pervaded so much of daily life — from home heating to lighting, powering manufacturing equipment and virtually all of our labor saving appliances — Alphabet CEO Sundar Pichai said the impact from AI will be even more profound. As reported by The Guardian, Suleyman predicts that AI will discover miracle drugs, diagnose rare diseases, run warehouses, optimize traffic and design sustainable cities. In a recent Business Insider article, Suleyman said that generative AI would soon become pervasive. While he warns about potential risks posed by AI — especially in combination with synthetic biology — he also predicted that within five years everyone would have access to an AI personal assistant. In this vision, everybody will have access to an AI that knows you, is super smart, and understands your personal history.
Younger founders, such as Harrison Chase from LangChain and Cristobal Valenzuela from Runway, delivered brief presentations as well. Huang was shocked — GPT-3’s ability to be creative and brainstorm with her was one she had never witnessed before. She, along with Grady, put the findings into an internal landscape and discussed them with the broader firm during one of their “Blue Sky” brainstorming sessions before eventually publishing them in the September post.
The FTC is reportedly investigating OpenAI
Sometimes the distinctions in each model are minimal — one company might label certain types of purchases as “office supplies” while another categorizes them with the name of their office retailer of choice, for instance. What I believe is most important — and what we have honed in on at Zest AI — is the fact that you can’t change anything for the better if equitable access to capital isn’t available for everyone. The way we make decisions on credit should be fair and inclusive and done in a way that takes into account a greater picture of a person. Lenders can better serve their borrowers with more data and better math. Zest AI has successfully built a compliant, consistent, and equitable AI-automated underwriting technology that lenders can utilize to help make their credit decisions.
Below is a schematic that describes the platform layer that will power each category and the potential types of applications that will be built on top. Having a more advanced bit of hardware isn’t enough to pry companies away from Nvidia. Toon said Nvidia’s biggest selling point is its CUDA software, which works as a simple plug-and-play system for companies looking to use their technology. We also use different external services like Google Webfonts, Google Maps and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site.
Are there alternatives to ChatGPT?
Slideshows seem primed for their generative AI moment, but decks themselves are unlikely to overturn the reign of the big office suites. But if presentations peel away from the suite—if Powerpoint is no longer good enough—the result could weaken the bundle. Even more than the document editor, spreadsheets flourished in the graphical user interface.
Huang’s “startup-that-got-away” was Character.AI, a buzzy Xoogler-founded chatbot that recently scored $150 million in funding and unicorn status from Andreessen Horowitz after months of speculation, she told Insider. The investor was especially captivated by the company’s engagement metrics, quirky product, and strong founding team, she said. Some VCs see the firm’s concerted investing efforts in AI as a long-term play, a way to establish industry dominance Yakov Livshits early-on to get the first pick of the next generation of AI startups. Grady disagrees, saying that a reputational bump is merely the “icing on the cake” to picking the right startups now. Sequoia’s 50-plus-year history has spanned the arc of multiple tech revolutions, which they categorize into revolutions of distribution and computation. First there was the rise of the Internet and then mobile phones putting supercomputers into billions of people’s pockets.
Founder of the DevEducation project
A prolific businessman and investor, and the founder of several large companies in Israel, the USA and the UAE, Yakov’s corporation comprises over 2,000 employees all over the world. He graduated from the University of Oxford in the UK and Technion in Israel, before moving on to study complex systems science at NECSI in the USA. Yakov has a Masters in Software Development.
“There is a lack of technical talent to a significant degree that hinders the implementation of scalable MLops systems because that knowledge is locked up in those tech-first firms,” he said. In other cases, just the fact that we have things like our Graviton processors and … run such large capabilities across multiple customers, our use of resources is so much more efficient than others. We are of significant enough scale that we, of course, have good purchasing economics of things like bandwidth and energy and so forth. So, in general, there’s significant cost savings by running on AWS, and that’s what our customers are focused on. We’re an $82-billion-a-year company last quarter, growing 27% year over year, so we have, of course, every use case and customers in every situation that you could imagine.
The relatively few customers makes Harvey’s valuation seem rich in comparison, the source said, pointing to a broader trend of elevated valuations and round sizes in the hyped-up generative AI space. Harvey was founded in 2022 by Gabriel Pereyra, who previously held AI research positions at Meta, DeepMind, and Google Brain, and Winston Weinberg, a former antitrust and securities lawyer. Together, the two married their AI and legal expertise to launch the startup, which aims to help lawyers with their everyday workflows, from editing legal documents to performing legal research, through instructions and questions posed in natural language. “The enterprise might try to force everyone to use a single development platform. The reality is most people are not there, so you have a whole bunch of different tools.
Generative AI, which refers to AI that processes huge amounts of data in order to create something completely original, is not new. The famous ELIZA chatbot in the 1960s enabled users to type in questions for a simulated therapist, but the chatbot’s seemingly novel answers were actually based on a rules-based lookup table. A major leap was Google
researcher Ian Goodfellow’s generative adversarial networks (GANs) from 2014 that generated plausible low resolution images by pitting two networks against each other in a zero sum game.
- There are multiple AI-powered chatbot competitors such as Together, Google’s Bard and Anthropic’s Claude, and developers are creating open source alternatives.
- We’re a big enough business, if you asked me have you ever seen X, I could probably find one of anything, but the absolute dominant trend is customers dramatically accelerating their move to the cloud.
- Instead of coding the entirety of software, people (including professionals outside IT) can develop a solution by giving the AI the context of what they need.
Code is one that OpenAI has cultivated for a while, and I think GitHub Copilot is incredible. The stat — [that] they’re responsible for 40% of their users’ code Yakov Livshits — is just mind-blowing to me. And so code is the other effort where we’re seeing a lot of both exciting founder development and then also user interest.
This will take a more holistic approach than the first crop of vertical writing tools and the imagination to remake the writing process. Lex is an early stage generative writing product that pairs a fully featured doc editor with both generative prompts and an adjacent chatbot that can gather facts and answer questions to supplement the writer’s efforts. AI affords new ways of working which means novel and delightful product thinking can really make a difference. Intuit also has constructed its own systems for building and monitoring the immense number of ML models it has in production, including models that are customized for each of its QuickBooks software customers.