“AI Eats Software” is Radical Ventures tagline via a provocative article in the Financial Times this morning reporting that the Toronto-based independent venture investment group (whose website is quite cool) has created a $550M fund being backed by Artificial Intelligence pioneers and corporate partners including:
“Fei-Fei Li, creator of the influential ImageNet project, Geoffrey Hinton, the pioneer in neural networks who is also a member of the Google Brain team, and the family office of former Google chief executive Eric Schmidt. Radical said it so far raised more than half of its $550mn target. Corporate investors such as Microsoft, SoftBank’s Vision Fund 2, IBM Ventures and Alphabet’s GV have for several years made big bets on AI start-ups through their venture arms.”
This is the largest AI dedicated fund to date, topping their previous $350M fund from 2019. A choice quote from the article:
“You’ll see all the world’s software replaced by AI over the next decade. Every business will end up using this [generative AI technology], either directly or via third-party software that is incorporating it.”
Jordan Jacobs – Managing partner and co-founder of Radical Ventures
John Schneider
I have always been an early adopter. Ideas, concepts, technologies and methodologies, learning and testing these is a personal passion. This puts me in the unique position of usually having perspective, POV and experience with this newness before everyone else. I use this to both my and my consulting clients advantage. Let me show you.