Inside the Coming AI Market “Supercycle” and How Cloud Startups Can Benefit: The Battery Ventures 2024 State of OpenCloud Report - Battery Ventures

Battery has invested in more than 450 companies over our 40-year history, and we’ve been fortunate to back some very big ideas.

We exist to support our companies, and we have focused expertise in areas including talent, business development, marketing and communications and growth/leadership.

Has it finally happened? Have fledgling  AI “experiments” inside companies finally morphed into real technology deployments, paving the way for big new efficiencies and streamlined workflows across all manner of industries and business processes?

The answer, according to our Battery Ventures 2024 “State of the OpenCloud” report, is yes—to a point. Our research finds there’s still a big gap between expectations and reality when it comes to actually deploying generative AI inside enterprises. But those deployments are increasing, we found.

And with the market’s mega-cloud computing providers continuing to invest massively in AI infrastructure—particularly since the second quarter of 2023—we see growing capacity to handle a coming AI “supercycle”, a technology platform shift just as big as previous mobile and cloud-computing revolutions led by Apple and Amazon Web Services, respectively. Our estimate is that $4 trillion or more in market value is up for grabs as AI moves toward disrupting software, services and certain labor markets in the coming years.

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