"In recent years, companies dumped money into generative artificial intelligence tools that promised to help them work smarter and faster. The spending spree fattened revenue for companies selling copilots for coding, customer service, sales, and search - and sent their valuations soaring. Now investors say the next phase is payback. Enterprises will demand measurable returns to keep spending, and the AI companies that can't prove value may find their software renewals harder, fundraising tougher, and exits further away. As Venky Ganesan, a partner at Menlo Ventures, put it: "2026 is the 'show me the money' year for AI.""
"Manthan Shah, head of US investments at WestBridge Capital: Humans communicate primarily through voice, and that creates a massive opportunity for AI systems that can speak, listen, and interact in a human way. We are still at the very beginning of this shift, but I expect to see a surge in both horizontal and deeply vertical voice-driven applications that effectively replicate human interaction and unlock entirely new business models. Once voice becomes a true platform, it will open the door for a new generation of companies that build products that behave less like software and more like another person in the room."
Venture capital in 2026 will pivot toward measurable returns and stricter evaluation of AI investments. Enterprises will demand clear ROI from AI tools, forcing firms that cannot demonstrate business impact to face tougher renewals, harder fundraising, and delayed exits. The technology frontier is shifting from text to multimodal systems that can see, listen, and speak, enabling voice-driven horizontal and vertical applications that replicate human interaction. Funding will favor compact, efficient teams and personal AI agents that deliver demonstrable value. Overpriced AI startups and those without clear monetization will face market correction and increased scrutiny.
Read at Business Insider
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