The use of AI technology for business growth and Investment was the focus of a panel discussion held by Stripe, Hotbed, and Stripe in London. The panel consisted of visionary founders who have successfully integrated AI into their own Startups, as well as developed cutting-edge AI solutions.

According to the panelists, we are currently in the second era of AI, where experimentation with early versions of AI is taking place. They highlighted the excitement of this phase, as it provides opportunities to productize AI technologies that will eventually become commonplace.

Investors do not necessarily expect startups to have dedicated AI experts in-house. The level of in-house AI expertise required depends on whether the company is a “pure” AI startup or AI-enabled. AI startups that create new technologies will need more domain expertise, whereas AI-enabled companies that combine existing technologies can rely on the recent explosion of high-quality, affordable AI tools.

The panel also emphasized the importance of traction for fundraising startups, including AI companies. Investors want to see evidence of potential and traction, whether it’s early revenue or another indication of building momentum. Proving that the company can work at an early stage can buy time to focus on generating revenue later.

While AI can be a powerful tool for startups, the panel warned against jumping on the bandwagon solely to impress investors. Instead, AI should be used as a tool to improve existing processes and operations. It can help speed up development and reduce costs, especially in industries like coding where AI is having a significant impact.

In conclusion, embracing AI can be beneficial for startups seeking growth and investment. Understanding investor expectations, focusing on traction, and using AI strategically can help startups stand out and succeed in the market.

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