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Over the past year, the buzz around generative AI has reached an all-time high, with large language models (LLMs) frequently making headlines. However, according to Rudina Seseri, founder and managing partner of Glasswing Ventures, merely using generative AI as an attractive feature is insufficient for building a sustainable business.
Today, this early-stage venture capital firm launched the Glasswing AI Palette, a new framework designed to educate and guide startup founders about the array of technologies under modern AI and machine learning (ML). This tool aims to show how these technologies can address real enterprise challenges.
Glasswing Ventures has been a prominent player in the AI market. In 2018, the firm raised $112 million to invest in AI startups, long before names like ChatGPT became popular. In 2022, they raised an additional $158 million to continue their mission of supporting data and AI technologies. Some of the companies they invested in early on include ChaosSearch, FeatureByte, and Causely.
While there is excitement around generative AI, Seseri points out that many other techniques are also evolving.
The Glasswing AI Palette serves as a common language and framework to navigate the complex and ever-changing AI landscape. According to Seseri, this palette maps AI techniques like transformers, Convolutional Neural Networks (CNNs), and Recurrent Neural Networks (RNNs) to respective data types and use cases. It also links to Glasswing’s ongoing ‘AI Atlas’ project, providing detailed explanations and evaluations of different techniques and their applications.
Though generative AI and LLMs are receiving most of the attention, Seseri stresses the importance of understanding the broader scope of AI. Glasswing Ventures is particularly interested in companies that provide value in enterprise and security markets by using diverse AI techniques.
A common trend among startups is to create a product layer around an existing LLM. According to Seseri, while the ChatGPT era has led to widespread consumer adoption of AI, using LLM wrappers isn’t a sustainable business model and doesn’t provide a competitive edge.
Glasswing Ventures seeks companies that utilize foundational algorithms, techniques, and architectures to produce unique solutions. These companies should address substantial problems in either the enterprise or security sectors, areas with significant budgets and critical needs.
Ultimately, Glasswing Ventures looks for truly AI-native companies capable of solving issues that otherwise couldn’t be addressed.