The Latest PitchBook Survey Shows Strong Interest from Most Venture Capitalists in AI Investments.
In Brief
PitchBook has just released results from a new survey that was conducted in partnership with Collision, which takes place from June 26-29 at the Enercare Centre in Toronto, a prominent tech conference.
The survey gathered insights from nearly 100 investors in venture capital who are participating in the conference.
The study revealed that a significant 74% of these investors have made at least one investment related to AI or machine learning (ML) over the last year and a half.
PitchBook, the prominent data source for the equity markets, has compiled insights from a new survey done in partnership with Collision, a Web Summit event which occurs on June 26-29 in Toronto. released finding In their seventh joint survey during Web Summit conferences, PitchBook and Collision provide invaluable insights into funding strategies, diversity within venture capital, and shifting attitudes towards cutting-edge technologies like AI, climate technology, and fintech amidst an uncertain market environment.
Surveying close to 100 venture capital (VC) investors from around the world attending the conference, the results indicated that 64% believe AI and machine learning could be the most transformative technology over the next five to ten years, a jump of 35% from just seven months earlier during the Web Summit 2022, where only 29% viewed AI/ML as a top disruptor.
Investors' optimism is bolstered by the revelation that 74% have already taken at least one leap into AI/ML investments in the last 18 months, with 14% investing more than six times in this growing sector.
Interestingly, fintech and blockchain, which led the previous Collision 2022 survey with 30% interest, have now dropped to fourth place, capturing only 6.8% of investor interest—a continuation of the decline noted in the November 2022 Web Summit survey's 23%.
"Generally, these findings align closely with the atmosphere we're encountering at Collision. There's been a substantial uptick in the number of AI startups joining us, with a yearly growth rate of 27% leading to an impressive 105% increase since 2020,\"
stated Ricardo Lima, who oversees Startups and Investors at Web Summit.
Since the debut of ChatGPT triggered a wave of excitement around generative AI, venture capitalists have been significantly increasing their investments in this field. Just recently, the AI startup Cohere secured funding
for its innovative AI-driven data security solution. In another notable development, generative AI service Typeface announced a $100 million Series B funding round, boosting its valuation to $1 billion. raised $270 million in a Series C round, while Cyera raised $100 million Countries in Latin America are showing remarkable enthusiasm for the Metaverse.
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Disclaimer
In line with the Trust Project guidelines Cindy works as a journalist at Metaverse Post, focusing on web3, NFT, metaverse, and AI topics. She's dedicated to interviewing key figures in the Web3 sector, having spoken with over 30 C-suite executives and counting to share their insights with her audience. Originally hailing from Singapore, she is currently living in Tbilisi, Georgia. With a Bachelor's in Communications & Media Studies from the University of South Australia and a decade of experience in journalism, Cindy brings a wealth of knowledge to her reporting.
