Podcast Summary
AI seen as tool for efficiency, not job-stealer: Industry leaders at CES emphasized that AI is a tool for job efficiency, not a job-stealer. Investors continue to prioritize AI funding for this purpose.
Key takeaway from this week's Marketplace Tech Bites is that generative artificial intelligence (AI) is no longer seen as a job-stealing technology, but rather a tool that helps people do their jobs more efficiently. This shift in perception was echoed at a CES panel featuring industry leaders from Reddit, Duolingo, and Qualcomm. AI was one of the few bright spots for startups last year, and it continues to be a hot topic among tech investors. Katie Roof, a Bloomberg News reporter at CES, shared that she's hearing from investors that AI is still a priority for funding this year. The focus is on making tasks easier and more efficient, rather than replacing jobs. This trend is expected to continue as AI becomes more integrated into our work lives.
VCs remain enthusiastic about AI applications: VCs are investing in AI for cybersecurity, AI-human content distinction, everyday consumers, and real-world problem solutions.
Despite some concerns about market saturation and overpricing, Venture Capitalists (VCs) continue to be enthusiastic about Artificial Intelligence (AI). They are particularly interested in applications that enhance cybersecurity and tools that help distinguish AI-generated content from human-generated content. Another area of excitement is bringing AI capabilities to everyday consumers and small business owners. VCs are also focused on investing in tech solutions that address real-world problems and provide tangible benefits to people's lives. The hype around AI in 2023 has led to a renewed focus on practical applications and ensuring that these advanced technologies reach a wider audience. Beyond AI, VCs are also keeping an eye on other tech sectors that tackle fundamental challenges and create meaningful value.
Tech investment shifting towards solving deep problems: Companies like Goodr address food waste and climate issues, demonstrating tech investment in sustainable solutions
Technology investment is shifting towards companies addressing the world's deepest problems, rather than just the latest hype cycles. A prime example of this is the intersection of tech and energy, where companies are focusing on conserving energy used by large language models and addressing climate issues. One such company, Goodr, is tackling the issue of food waste, which contributes significantly to emissions. By ensuring good food doesn't go to waste and is distributed to those in need, Goodr is addressing a fundamental problem in an environmentally conscious way. Other companies in the portfolio are also focusing on solving core issues in a sustainable manner.
Enterprise focus at CES 2023: VCs show interest in enterprise startups, CES shifts focus to enterprise-driven platform, aging tech sees innovation with sensors in various devices, HTech space surges, demoed companion robot Leq and hologram Proto, 4 million people turning 65 this year emphasizes importance of technology for aging population
Key takeaway from the discussion at CES 2023 is the increasing focus on enterprise startups and the integration of technology to help the aging population. Venture capitalists are showing interest in mobility and automotive, as always, but what was surprising was the presence of an enterprise-focused VC at the event. CES is shifting its focus from Consumer Electronics to a more enterprise-driven platform. In the realm of aging technology, there seems to be a move beyond clunky wearables, with sensors being integrated into various types of technology, including mattresses and robots. The HTech space, which is focused on aging technology, is seeing a surge in innovation. I had the opportunity to demo a companion robot named Leq and a hologram named Proto, which allows family members to beam into each other's homes for virtual interactions. The estimated 4 million people turning 65 this year underscores the importance of this technology to make aging easier and more connected.
Technology's Role in Supporting Older Adults: Two companies, Artifacts and Care Academy, are utilizing technology to help older adults stay in their homes and improve their quality of life. Artifacts documents and shares memories about family heirlooms, while Care Academy trains and equips caregivers with necessary skills and technology.
Technology is playing an increasingly important role in supporting older adults as they age and choose to stay in their own homes. Two companies, Artifacts and Care Academy, are leading the way in this trend. Artifacts helps document and share memories about family heirlooms, while Care Academy focuses on training and equipping caregivers with the necessary skills and technology to support elderly individuals in their homes. With over 12,000 people turning 65 every day, ensuring that they have what they need to live a prosperous life is a significant trend to watch. For kids, understanding the importance of technology in supporting older adults can be explained through the Million Brazilian podcast, a webby-winning podcast from Marketplace that takes kids on exciting adventures to answer complex questions they have about money.
Learning about Money through Engaging Podcasts: Money Wise Kids podcast educates kids on various financial concepts in an engaging way, answering listener questions and exploring intriguing topics like Fort Knox and college accounts.
The Money Wise Kids podcast is an educational resource where kids can learn about various financial concepts in an engaging way. Each episode addresses thought-provoking questions from young listeners, providing answers to queries such as "What is a college account and how does it work?" or "What are unions and what are they for?". The podcast also touches upon intriguing topics like the role and significance of Fort Knox and its gold reserves in the US economy. Encourage your kids to tune in to Money Wise Kids to expand their financial literacy and develop a solid foundation for understanding how money functions in the world around them.
