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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 might wish to be like Figma, and the way the investing facet of the market is adjusting to down rounds being the brand new regular. — Anna
Not-yet-unlocked potential
When The Trade seemed into Battery Ventures’ state of cloud software spending report, we began by specializing in what the title promised: recent information on cloud software program spend. And it turned out to be more encouraging than we anticipated.
We then seemed into one other piece of fine information for founders: that startups constructing tech to automate duties and drive fast productiveness positive factors might be able to duck the downturn. It was based mostly on a report information level displaying that automation had risen amongst enterprise price range priorities.
However behind my thoughts, I additionally stored fascinated about a few of 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 any case, 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.
