"The venture capital world has witnessed countless technological disruptions over the decades, but few have arrived with the speed and scope of generative artificial intelligence. In the three years since ChatGPT's launch, gen AI has fundamentally altered how startups are conceived, pitched, built, and funded. According to a report from Stanford, global private AI investment reached a record high of $252.3 billion in 2024, with generative AI funding soaring to $33.9 billion-more than eight times higher than 2022 levels."
"Thomas H. Davenport is the President's Distinguished Professor of Information Technology and faculty director of the Metropoulos Institute for Technology and Entrepreneurship at Babson College, a visiting scholar at the MIT Initiative on the Digital Economy, and a senior adviser to Deloitte's Chief Data and Analytics Officer Program. Erik A. Noyes is an associate professor of Entrepreneurship and the Michael London '92 and Stephen H. Kramer '92 Term Chair in Entrepreneurship at Babson College. He is the founding director of The Generator, Babson's interdisciplinary AI lab."
Generative artificial intelligence has transformed the venture capital and startup landscape with unprecedented speed and scope. In the three years since ChatGPT's launch, generative AI changed how startups are conceived, pitched, built, and funded. Global private AI investment reached $252.3 billion in 2024, while generative AI funding surged to $33.9 billion—more than eight times 2022 levels. The surge in capital signals strong investor commitment and rapid market reorientation toward generative AI capabilities. The influx of funding is accelerating product development cycles, reshaping startup strategies, and intensifying competition for AI talent and technologies.
Read at Harvard Business Review
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