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☆ Artificial intelligence is coming for venture firms. VCs predict it could reduce headcount by more than 50%.
▼ + stars: | 2024-06-24 | by ( Ben Bergman | ) www.businessinsider.com time to read: +8 min

Firms like Correlation Ventures, 645 Ventures, and Fly Ventures have long used data and AI to help guide investment decisions. AdvertisementEarlier this year, Sri Chandrasekar, a partner at Point72 Ventures, noticed a startup in his portfolio was having a breakout week. Related stories"If you go to any venture firm's website, you'll find that half the names are not doing anything to do with investing," Chandrasekar said. Advertisement"If you look at the large firms, they got very, very large in the last few years," said Andy McLoughlin, managing partner at Uncork Capital. Venture firms will have to remake themselves into a combination of people and A.I."

Persons: —, Matt Krna, Krna, Sri, Chandrasekar, Christina Melas, Andreeseen Horowitz, Andy McLoughlin, James Currier, Currier, McLoughlin Organizations: Service, Business, Ventures, Fly Ventures, Point72 Ventures, Bain Capital Ventures, Bain Capital, Catalyst, Lightspeed, Uncork, Venture, Deloitte, San Locations: San Francisco, Sri Chandrasekar

☆ The ChatGPT and generative AI 'gold rush' has founders flocking to San Francisco's 'Cerebral Valley'
▼ + stars: | 2023-01-31 | by ( Thomas Maxwell | ) www.businessinsider.com time to read: +7 min

Because of pandemic-era closings, San Francisco became somewhat of a ghost town for two years. Now, a race to succeed in the fledgling space of generative AI has founders flocking back. Generative AI takes training data — for instance, a vast corpus of written text — and teaches itself how to produce completely new, unique works. After giving New York a try for several weeks, the generative AI boom picked up. Thomas Maxwell/InsiderPerez said that the sense of urgency to get working on building better AI models comes from how generative AI improves with more data.

☆ From writing malicious code to creating deepfakes, generative-AI tools like ChatGPT are being used for harmful purposes. Here's how founders and VCs are thinking about policing them.
▼ + stars: | 2023-01-21 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +6 min

In the past few months, some have raved about the capabilities of generative AI tools like ChatGPT. Startups policing themselvesSome startups have taken it upon themselves to ensure their products aren't being used for the wrong purposes. In 2020, Resemble AI, a company that can generate voices using AI, released Resemblyzer, an open-source package that can verify speakers and detect fake speech. Despite their bad rap, the majority of deepfakes are used for marketing or entertainment, rather than malicious purposes, Riparbelli told Insider. But already, US government officials are collaborating with AI startups to form partnerships and fund research around these concerns, Ahmed told Insider.

☆ U.S. business equipment borrowings grew 6% in October- ELFA
▼ + stars: | 2022-11-21 | by ( ) www.reuters.com time to read: +1 min

Nov 21 (Reuters) - U.S. companies borrowed 6% more in October to finance equipment investments compared with a year earlier, industry body Equipment Leasing and Finance Association (ELFA) said on Monday. The companies signed up for $11.3 billion in new loans, leases and lines of credit last month, compared with $10.7 billion a year earlier, according to ELFA. ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals totaled 77%, marginally down from 77.3% in September. The Washington-based body's leasing and finance index measures the volume of commercial equipment financed in the United States. The Equipment Leasing & Finance Foundation, ELFA's non-profit affiliate, said its confidence index in November stood at 43.7%, down from 45% in October.

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