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This week, I’m diving deeper into what generative AI means, or doesn’t imply, for enterprise patrons. I even have some notes on why your organization could wish 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 Alternate regarded into Battery Ventures’ state of cloud software program 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 fine information for founders: that startups constructing tech to automate duties and drive fast productiveness good points may be capable to duck the downturn. It was primarily based on a report information level displaying that automation had risen amongst enterprise finances priorities.
However behind my thoughts, I additionally saved eager about among the report’s feedback about generative AI — and never simply because superlative takes on the subject have been ubiquitous ever since.
If something, you can name Battery’s view on generative AI conservative, however that may be unfair. In spite of everything, 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.
