Menlo Ventures released a great AI landscape survey...three powerful trends: 🚀 1. AI Agents Are Leading the Charge: Shift toward agentic architectures is clear—automation is moving beyond isolated tasks to AI agents capable of orchestrating complex workflows. 🏦 2. Incumbents Beware: Fast Followers Win with AI: When startups deliver superior, AI-powered experiences, customers are quick to switch. It’s no longer about loyalty; it’s about delivering unmatched value. 💼 3. The AI Talent Crisis is Real: The competition for AI/ML talent is heating up, with salaries expected to double or triple. Building great AI solutions isn’t just about technology—it’s about assembling the right team. 📊 Additional Highlights: - Enterprise AI spending reached $13.8B, growing 6x YoY. - 47% of solutions are now developed in-house, marking a shift from reliance on vendors (down from 80%). - Price isn’t an issue. Only 1% of enterprise leaders cited cost as a concern when selecting an AI solution. Enterprises are prioritizing results over cost. The lesson? AI leaders need to think boldly: build transformative solutions, assemble top-tier talent, and never underestimate the speed at which disruption can occur. Great report Tim Tully and Derek Xiao. #AI #GenerativeAI #Innovation #EnterpriseAI #MenloVentures #Base64
Thank you for sharing this insightful survey. The trends highlighted are indeed crucial for understanding the current AI landscape. The shift towards AI agents and the rapid adoption of AI-powered solutions by fast followers underscore the importance of innovation and agility in today’s market. The emphasis on assembling top-tier talent is also spot on, as the right team is essential for building transformative AI solutions. It’s clear that enterprises are prioritizing value and results over cost, which is a significant shift. Best wishes to all those navigating these exciting changes in the AI space.
Great report. Thanks for sharing
CEO, Base64
3wFull Menlo Ventures report: mnlo.vc/2024EnterpriseAI