Technology is definitely entering the age of generative AI. “The generative AI frenzy shows no signs of slowing down,” says Francis Karamousis, a prominent vice president analyst at IT research firm and consultancy Gartner.
“Organizations are rushing to decide how much cash to put into generative AI solutions, which products are worth investing in, when to start, and how to mitigate the risks associated with this emerging technology. is.”
From assistive speakers to maps to even autocorrect, many people already use and benefit from AI on a daily basis, but the introduction of an open-source foundational model marks the first time this technology is widely available. It is now possible.
As a result, tens of millions of end users are beginning to participate. ChatGPT became the fastest growing consumer application in history and quickly raised public awareness. It took just two months for the number of users on this platform to surpass his 100 million.
Compare this to TikTok taking about nine months from launch to reach the same benchmark, while Instagram took even longer, about two and a half years. It took him six and a half years before Google Translate reached that milestone.
And people don’t just know it. We also use generative AI technologies such as ChatGPT and related tools such as image generation tools DALL-E and Midjourney.
ChatGPT has a simple interface that is easy to use. Ask a question and you’ll often get a pretty sophisticated answer. You can generate Python code, write job application cover letters, create detailed travel itineraries, and much more.
Growth area
A recent Pitchbook report identified several key areas of opportunity. These include Supply Chain Technology, Web3, InsurTech, Healthcare IT, Climate Technology, etc.
So it’s no surprise that even in the current “funding winter” environment, AI startups are attracting a lot of money. According to another recent PitchBook report, VCs have increased their funding for generated AI from $408 million in 2018 to $4.5 billion in 2022.
Angel and Seed deals garnered $102.8 million in 41 deals in 2018, rising to 107 deals and $358.3 million in investment in 2022.
Notable
AI is a rapidly growing sector in the UK, with the number of AI companies growing by 688% over the past decade. Companies in this space are generally in the early stages, with more than half of the 1,684 high-growth AI companies active in the UK in the seed stage.
So where are the companies to watch?
In healthcare, Charm Therapeutics develops innovative medicines through 3D deep learning and cutting-edge drug discovery technology.
Fintech company Super Payments is powering free payments for businesses to give members more value shopping.
In the InsurTech space, Send Technology Solutions develops AI-based software that helps companies manage and automate insurance processes, including underwriting and pricing functions.
Data company Optalitix provides predictive analytics and decision optimization software solutions across models and estimates to speed processes and reduce costs.
When it comes to supply chain management, Solvo.ai stands out. An AI-powered supply chain optimization platform if it provides demand forecasting, inventory optimization, and transportation management.
Hiring for AI Roles
If you’re looking for a new role in AI, it’s important to start with the UKTN Job Board. It includes thousands of job openings across the tech industry, including his three below.
Darktrace, a global leader in cybersecurity AI, offers a variety of jobs, including an Information Security Analyst role in London. Supports and manages the day-to-day activities of the information security team and ensures that security engagement, management, and governance processes are implemented and well maintained over time.
At Microsoft, the Applied Sciences Group is fostering disruptive technologies for next-generation hardware products and is working on some exciting projects to shape how computers and other devices perceive users and their environments. is. Our team is growing and we are looking for a Senior ML Software Engineer. Integrate LLM and other large-scale models to run on-device, maintain and track model performance, and map new networks onto dedicated silicon.
Zilch is looking for a Senior ML Operations Engineer in London. Design data pipelines and engineering infrastructure to support enterprise machine learning systems at scale, and work with data scientists to take offline models and turn them into real machine learning production systems.
Visit the UKTN Job Board today for many other AI, ML and computer vision jobs.
This article is part of a paid partnership with career marketplace Jobbio to share the UK’s most exciting tech jobs with UKTN readers.
