Top Investments in Generative AI

Generative AI is one of the hottest and fastest-growing areas in the tech world. It’s a space where creativity meets computing power, resulting in innovations that are changing the way we interact with computers and data. The surge in investment in generative AI reflects the vast potential of AI. Venture capitalists and tech titans are pouring billions of dollars into startups and ventures that are pushing the limits of AI. From improving customer experiences to redefining content creation, the future of AI is here. Let’s take a look at some of the top investment opportunities in generative AI.

Generative AI is a technology that customers around the world are increasingly seeking. To meet this demand, Accenture plc (a.k.a. Accenture) has announced its intention to establish generative AI research and development studios in nine locations across Asia Pacific (APAC), the Pacific (P5), and Latin America (LME), which is one of the Top Investments in Generative AI. The research and development studios will be based on Accenture’s responsible AI framework. They will act as a hub for connecting clients with Accenture data and AI experts, as well as ecosystem partners, joint ventures, and strategic investments. The goal of this collaborative approach is to test, co-create, and scale generic AI solutions quickly.

NCS has deepened its partnership with Microsoft in Asia Pacific to drive AI and Cloud adoption. Building a Microsoft growth accelerator in Asia Pacific, NCS intends to provide comprehensive solutions across all six of Microsoft’s solution areas. This alliance is focused on providing innovative solutions and IP from NCS based on Microsoft technology that is available on the Microsoft marketplace. The initial investment is SGD 1,5 million, and NCS will focus on developing next-generation solutions and IP. Strengthened by a shared focus on technology, innovation, and a unified Go-To-Market strategy, NCS clients in Asia Pacific will be able to take advantage of emerging technologies such as Generative AI. Microsoft and NCS’ combined expertise in technology services combined with NCS’ proven track record of localized solution delivery.

Bellsystem24 is a Japan-based firm that offers business process outsourcing, customer relationship management technology development, customer voice analysis, and other services. It is set to collaborate with Taiwanese tech startup Intuit to launch a generative artificial intelligence (AI) based call center service in Taiwan this spring, which is one of the Top Investments in Generative AI. The partnership entails the operation of hybrid call centers, combining the expertise of customer service agents with Intumit’s AI chatbot. Utilizing generative AI, the service will automate responses to inquiries received through the chatbot. In instances where questions are intricate and demand detailed information, agents will reach out to customers via phone or chat for a more personalized interaction.

Ask-AI, an enterprise-focused generative AI answers and insights solution, has secured US$11 million in Series A funding. The round, led by Leaders Fund and featuring participation from existing seed investors, including Vertex Ventures, State of Mind Ventures, and GTMFund, coincides with the launch of its new sidekick, ASK. This funding brings the company’s total funding to US$20 million. Ask-AI’s solution aims to enhance efficiency in repetitive tasks, knowledge management, and customer understanding.

Vodafone and Microsoft have formed a 10-year strategic partnership to deliver scaled digital platforms across Europe and Africa, reaching over 300 million businesses and consumers. It is one of the Top Investments in Generative AI. The collaboration involves utilizing Microsoft’s generative AI to enhance Vodafone’s customer experience, scaling Vodafone’s managed IoT connectivity platform, and developing digital and financial services, especially for SMEs. Vodafone will invest US$1.5 billion in cloud and AI services over the next decade, and Microsoft will use Vodafone’s connectivity services. The partnership also includes Microsoft’s investment in Vodafone’s managed IoT platform, set to become a standalone business in April 2024, attracting new partners and customers. The digital services will prioritize a personalized customer experience, adhering to Vodafone’s framework for responsible AI and emphasizing privacy and security.

Capgemini has entered a multi-year collaboration with AWS to fast-track the adoption of generative AI solutions across organizations. The partnership aims to assist clients in realizing the business benefits of generative AI while addressing challenges like cost, scale, and trust. Leveraging Capgemini’s AWS Centers of Excellence, the collaboration enables clients to transition from pilots to full-scale production. It also accelerates the deployment of industry-specific use cases using Amazon Bedrock, including access to secure models like Amazon Titan.

Amazon Web Services, Inc. has disclosed one of the Top Investments in Generative AI, US$15 billion in Japan, to bolster its cloud infrastructure, computing services, and AI capabilities in the region. Over the next three years, AWS will prioritize the expansion of its product and service offerings in Tokyo and Osaka. The investment is geared towards promoting in-country data usage, eliminating the necessity for overseas transfers. This initiative is strategically aligned with advancing the availability and adoption of generative AI for businesses operating in Japan.

Yellow.ai, the world’s leading customer service platform powered by generative AI, has partnered with Infobip, a cloud communications platform, to improve enterprise customer service. The collaboration uses voice automation, content platform as a service (CPaaS), and general artificial intelligence (AI) solutions, with a focus on global markets such as North America and Europe, India and the Middle East, and the Asia-Pacific region. This collaboration will benefit retail, consumer electronics, BFSI, telecommunications, utilities, and healthcare industries, with the aim of providing high-quality customer experiences through cutting-edge product suites. The two companies are committed to a long-term partnership, with a strong emphasis on product innovation and development to transform customer service.

Spellbook closes US$20M Series A funding. Spellbook, the legal assistant startup, announced today that it has closed a US$20 million Series A funding round, led by investment firm Inovia Capital and supported by TSF (The Legaltech Fund) and other investors. The Series A funding comes as the industry rapidly embraces the use of generative AI (GaaS) and large language models in legal work.

DXwand is a conversational AI startup based in Cairo and Dubai, UAE. DXwand specializes in the development of conversational AI solutions for business automation across MENA. The company has recently announced that it has raised US$4 million through a Series A funding round led by Shorooq partners and algebraventures and with the participation of the Dubai Future District fund. The funding will support DXwand’s growth in MENA and accelerate its R&D efforts in the areas of generative AI and knowledge mining, as well as Omnichannel Conversational AI, which is tailored to the needs of the region. This funding positions DXwand to grow and innovate in the emerging Middle East market.

Google Cloud Announces AI Trailblazer Program for Singapore Generative Artificial Intelligence (AI) Startups.  Google Cloud is proud to announce its AI Trailblazer program in partnership with Enterprise Singapore. The AI Trailblazer initiative is designed to support Singapore-based GenAI startups in the seed through Series B stages over the next 3 years. Google Cloud’s AI technology will be available to GenAI startups from seed through to the Series B stage, including pre-trained models. The goal of this partnership is to increase the adoption of AI, support local GenAI startups, and broaden the AI talent pipeline in Singapore. Public and private sector organizations (PPOs) will be able to access Google Cloud’s infrastructures, Vertex’s AI platform, and models, as well as low code development tools at no cost to build GenAI applications. This will help drive innovation in Singapore’s GenAI startup ecosystem.

The GSMA, a UK-based global organization unifying the mobile ecosystem to discover, develop, and deliver innovation that helps businesses and society thrive, announced its partnership with IBM, an American technology corporation, to advance generative artificial intelligence (AI) adoption in the telecom industry. The GSMA Advance’s AI Training program is launching to help telco leaders harness the power of generative AI powered by IBM’s Watson platform. Through this collaboration, the GSMA is bridging skill gaps and preparing industry leaders for the era of AI. In addition to the AI Training program, the GSMA foundry generation AI challenge and a program for fostering AI innovation in the telecom industry.

Aqemia, a biotechnology firm based in Paris, has raised €30 million in Series A funding to develop its generative AI-driven drug pipeline further. This funding round complements its previous €30 million raised in October 2022, bringing its total funding to €60 million. Paris-based private equity firm Wendel Growth led the round. Aqemia will deploy the new funds strategically to grow its drug discovery pipeline and portfolio. Aqemia has integrated the knowledge gained from generative AI with the goal of identifying and designing promising drug candidates. The substantial funding injection will help Aqemia continue its innovative efforts in the biotech space.

Generative AI is one of the fastest-growing industries in the world, and it’s no surprise that there’s a lot of investment in the field. The sheer amount of investment in this sector indicates that investors believe in the transformative potential of AI. As we witness Generative AI revolutionize industries and develop new applications, we can’t help but realize that these investments are not just financial bets; they are strategic moves to create a new era of technology. The resources that are being poured into this sector today are preparing the ground for a future in which AI’s generative power will become an integral part of our lives.