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State of the Cloud 2024: The Cloud AI Era with Bessemer Venture Partners
- Bessemer Venture Partners has released its annual report on the State of the Cloud focused on AI.
- Jasper was one of the first businesses to experience rocketship growth and achieve double-digit ARR by building on top of an LLM.
- Multimodal models are core to Abridge, which transcribes doctors' conversations with patients and generates clinical notes.
- Change management is a critical consideration for AI adoption, with the need to onboard early adopters.
- Defensibility is a challenge in AI with language models readily available to everyone, emphasizing the need for building moats.
- LLMs are largely text-driven, but multimodal capabilities are important for businesses such as Jasper, enabling personalized images.
- In the last paradigm shift, the end-user experience for SaaS was largely invisible, but change management is an essential part of adopting AI.
- There is no one-size-fits-all AI model, with companies using a combination of existing and proprietary models for accuracy in sensitive fields.
- AI solutions require high-ROI and user-centricity to solve the problems that couldn't be solved before.
- Building a services strategy alongside building an AI application company can help to manage outcomes that are more probabilistic than deterministic.
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