The first iPhone was released in June 2007, and now 84% of Americans own smartphones and many cannot imagine a world without them.
While Apple company. AAPL He didn’t make the first smartphone, it was the device that propelled the technology to its modern-day success, quickly selling millions of units and becoming a point of discussion around the world. In the past 16 years, computers have gotten smaller, faster, and can do almost anything while sitting in the palm of your hand.
The ChatGPT release quickly brings AI capabilities to the fore. The launch of ChatGPT could be the “iPhone moment” for the world of artificial intelligence. It is reshaping school curricula and policies, replacing and improving jobs and is already a household name. ChatGPT isn’t the first company to do what they’re doing, but it’s what’s making the AI world mainstream.
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Venture capitalists (VCs) in particular are taking notice and pouring billions into AI startups. When VC takes notice and starts funding certain sectors, mainstream adoption comes soon after. For example, blockchain adoption has skyrocketed in the past few years, with 2021 seeing non-fungible token (NFT) sales in the billions, hundreds of new games and thousands of new cryptocurrencies. In 2020, funding for Web3 startups was $4.8 billion, and in 2021 it was nearly $30 billion. In 2022, in line with the overall decline in venture capital funding, it’s $21.5 billion.
Retail investors are also investing heavily in AI startups.
RAD AI is a startup that runs on Wefunder, which means anyone can invest for a limited time. More than 2,400 retail investors have invested more than $2.5 million in RAD. On its Wefunder page, RAD says it is “the world’s first AI marketing platform designed to understand sentiment” and is used by some of the world’s largest companies.
At StartEngine, more than nine AI startups have been launched, with the most notable being WeatherFlow-Tempest which has raised over $800K and WiGl which has raised over $2.37M.
MaxTracker is a StartEngine-bred startup that has raised more than $54,000 for its tracker, which uses artificial intelligence that can distinguish between events. For example, it uses AI to differentiate between a car being broken into versus being hit by a soccer ball, or a bike being stolen versus being knocked over.
Artificial intelligence has signs of being the next big industry, and investors seem to be paying attention. As industry — and funding — continues to ramp up, this is likely just the beginning of what AI has to offer.
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