Instabase, a startup that develops apps to understand and analyze “unstructured” data, raised $45 million in a Series C round led by Tribe Capital and including Andreessen Horowitz (a16z), New Enterprise Associates, and Spark Capital. Instabase’s valuation doubled to $2 billion as it invested more in generative AI. “At Instabase, we’ve built a platform that’s …
It seems that generative AI is everywhere at the moment, but for businesses understanding how best to make use of the technology can be a bit of a puzzle.
Reporting by Helen Popkin, Aayushi Pratap and Nina Wolpow
The Covid-19 pandemic was devastating for many industries, but it only accelerated the use of artificial intelligence across the U.S. economy. Amid the crisis, companies scrambled to create new services for remote workers and students, beef up online shopping and dining options, make customer call centers more efficient and speed development of important new drugs.
Even as applications of machine learning and perception platforms become commonplace, a thick layer of hype and fuzzy jargon clings to AI-enabled software.That makes it tough to identify the most compelling companies in the spaceâespecially those finding new ways to use AI that create value by making humans more efficient, not redundant.