Concentric Partner Letter #32: AI from the Perspective of a Founder
Artificial Intelligence (AI) has undoubtedly become a buzzword in recent years, generating a great deal of excitement and debate across various industries. However, AI is not a new concept. It has been around for several decades, undergoing significant advancements and transformations along the way.
In the realm of entrepreneurship, AI is now seen as a game-changer, with companies developing groundbreaking software, recognising its immense potential. It is no longer reserved for a select few tech giants but has become accessible to a broader range of businesses. This accessibility has empowered entrepreneurs to leverage AI’s capabilities to gain a competitive edge and deliver more intelligent and efficient solutions.
AI is increasingly becoming a regular part of the software stack for entrepreneurs, and interestingly there are cases where they have been inadvertently building AI companies without even realising it. This phenomenon occurs when entrepreneurs develop software solutions that heavily rely on AI algorithms but they do not explicitly market themselves as AI companies. Such instances highlight the seamless integration of AI into entrepreneurship and its normalisation as a core component of innovative solutions. This trend further emphasises the transformative nature of AI and its role as a fundamental technology for businesses across various sectors.