Who is really building AI – and who is just pretending? Dall E
A contribution from John Lange. Lange is a founding partner of the venture capital fund AI.FUND, which aims to develop the potential of artificial intelligence for entrepreneurial investors.
AI technology has arrived in reality. Digitalization provides the database with which AI models can be trained. By applying these models, processes can be automated, content generated, products and services optimized, robots controlled and predictions made. The result is significant productivity gains. AI technologies have an exponential effect, meaning they achieve three, five or up to ten times better results and are constantly learning. Startups that use artificial intelligence specifically to solve a problem and generate customer benefits therefore have the potential to develop significantly more successfully than those that do not do this.
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AI startups achieve higher valuations
Since the long-term growth prospects for AI startups are higher, as outlined above, AI startups are particularly attractive for investors. Accordingly, they are prepared to pay valuation premiums. According to a new analysis by CB Insights, depending on the stage, AI startups achieve valuation premiums of +21 percent (for seed financing) to +59 percent (for Series B financing) compared to non-AI startups.
However, the greater attractiveness among investors can tempt founders to stick an AI label on themselves, be it in the name (xy.ai) or in the slogan, without actually using AI at the core of the service offering. Suddenly every startup seems to be an AI startup. But the use of ChatGPT alone does not turn a young company into an AI startup.
This question about the difference arises especially among startups that develop specific applications. For those who develop parts of the infrastructure required for AI or AI models such as large language models, the matter is clearer. However, these usually require much more development time and higher investments. There are correspondingly fewer startups in this area. At the application level, the choice is significantly larger. There are over 6,000 AI startups in Europe alone.
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SIAM: best participations in the 16th edition (box)
– Best Stand at the Sponsors Pole: OCP
– Best Stand at the Livestock Inputs Center: Alf Eddik: AFF (Africa Feed and Food
– Best Stand at the Agri-Digital Pole: GIP Digital Pole of Agriculture, Forestry and Drought Observatory
– Best Stand at the International Pole: Somacan
– Best Stand at the Agri-Food Pole: Conserveries Meknès-AICHA
– Best Stand at the Agrosupply Center: CMGP.CAS
– Best Stand at the Machining Pole: Pellenc Maroc
– Best Stand at the Nature and Environment Pole: Menarat Al Haouz
– Best Foreign Participation: ICEX España Exportación e Inversiones, EPE
– Best Generation Green anchor: Bio Beef
– Best Digital Solution: Cosumar
– Jury’s favorite: GPC Paper and Cardboard
Caroline Mulroney celebrates Franco-Ontarian entrepreneurship at Business Forum in Toronto
Richard Caumartin
The Franco-Ontarian Business Forum presented its second edition on April 25 at the Globe and Mail Center in Toronto. This event, coordinated by the Fédération des gens d’affaires francophones de l’Ontario (FGA), brings together stakeholders in economic development and Francophone entrepreneurship from the province and beyond . The country that was invited was Ivory Coast.
This Forum was hosted by the host and representative Mathilde Hountchégnon, who has worked for over 15 years in the media and communications sector. After lunch, she gave the floor to the president of the FGA, Dominic Mailloux for the welcome speech. The latter thanked the two guests of honor at the start of a day full of activities. They are the Lieutenant Governor of Ontario, Edith Dumont and the Minister of Francophone Affairs and President of the Board of Finance, Caroline Mulroney.
Ms. Dumont warmly thanked the FGA for the invitation and emphasized the importance of doing business in French and supporting Franco-Ontarian entrepreneurs. She praised the efforts made by the Ontario government and Minister Mulroney to improve the economic potential of the Francophonie.
Afterwards, Caroline Mulroney launched the Forum by expressing her pleasure to participate for the second year in a row. “I’m reconnecting with familiar faces and I’m excited to meet new minds dedicated to entrepreneurship,” she says. We will continue as a government to bring the Federation of Businessmen with French (FGA) to the ends of the world and I am very proud to see its rapid development, a development made possible thanks to the movement of forces Francophone. »
She welcomed a delegation from Côte d’Ivoire, a country with which Ontario has a large trade, worth $140 million in 2023. “This Forum is another proof of the unifying nature of the FGA. Entrepreneurs and small businesses play a vital role in our communities by creating jobs and sharing many resources to grow our economy. This economic potential is exciting! Ontario’s entrepreneurial ecosystem ranks fourth behind the region of New York, Texas and California,” the minister said.
She emphasized that the Ontario government will continue to foster opportunities for openness, collaboration and partnership with members of the Organization Internationales de la Francophonie (OIF), of which Ontario is an observer member.
“Our government is pleased to support the FGA as part of the economic mission to be held in June. There is no need to remember that Ontario has a connection with Quebec and New Brunswick to host this first OIF mission in North America. The Federation will lead a delegation of about 15 Ontario companies. Ontario will also demonstrate its presence at the 19th OIF Summit to be held in October in Paris,” says Ms. Mulroney.
“Our Francophonie is a valuable asset in Ontario. It gives access to a large linguistic family around the world. And the ability to do business in French and build relationships with entrepreneurs and potential partners is very interesting. On an ongoing basis, I will continue to spread and support mutual aid with French, to improve the employability of Ontario’s French-speaking and bilingual workforce. Together, we will support the Ontario Francophonie in all aspects and lay the foundations for a more promising future for Ontario,” she concluded.
Photo: Caroline Mulroney speaking to participants of the second edition of the Franco-Ontarian Business Forum in Toronto
2024-04-26 23:42:52
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Caroline Mulroney celebrates Franco-Ontarian entrepreneurship at Business Forum in Toronto