Despite the economy’s current challenges, AI makes Israel’s investment climate brimming with opportunity, according to a panel of experts at the Jerusalem Post Annual Conference in New York on Monday.
The panel was held to provide a bird’s-eye view of Israel’s leading investors, including Liron Wand, Venture Partner at Pitango Growth, and Eric Gertler, Executive Chairman and CEO of US News & World Report. and LinkedIn Chief Product Officer Tomer Cohen.
Amidst widespread economic challenges, the field of artificial intelligence investment stands out as a beacon of opportunity. A panel of experts said AI investment has immense potential for growth, innovation and returns, despite the global economic slowdown and the aftermath of the COVID-19 pandemic.
“In a tough market like today, a lot of venture capital activity has paused or declined, but what we are seeing going forward is that strong, resilient companies will survive and actually make a difference. It’s a company that builds products that produce,” said Wand. “Some of the things we look at when evaluating a new investment are going back to basics. We look at it, it’s an indicator of whether a company is strong and resilient.”
Why has artificial intelligence sparked so much investor interest?
Wand went on to explain the strong interest AI is generating among investors. “Artificial intelligence and generative AI are both an opportunity and a threat,” she said, explaining that the threat is similar to what happened with the iPhone in the 2000s. “When the iPhone came out, we realized that many companies and independent companies that were developing products suddenly became iPhone features. increase.”
“But when you consider this, how can AI really build resilient companies that are not just for consumer-conscious consumption, but that really change workflows and really change the way things are done and done? So it might be a challenge for some companies today, but for both venture capitalists and entrepreneurs, what are the AI trends? I think it’s going to be a great opportunity to think about how we’re going to accept it,” she said.
Cohen elaborated on the perspective of real companies investing in AI to embed it into their operations. “Right now there is a tension between managing the business very efficiently and at the same time he is doubling down on technologies such as AI,” he said. “Right now is a very special moment and there can really be some incredible innovation in the market and if you miss that point you are actually falling behind. It’s a very interesting moment where you can reinvent what you’re thinking.”
Gertler agreed, saying, “Companies that don’t think now about AI and how it fits into their products will have a difficult future.”
“The reality is that this is one of the most disruptive technologies we’ve seen, and as a company we need to incorporate it into our products to ensure a more compelling experience for our consumers. We’re trying to figure out how we can provide that.” ,” he said. “Yes, AI will be the most disruptive force.” [in the near future]”
