Artificial intelligence will be the ‘queen’ of startups in 2024

With only a few days left until the end of 2023, the startup world was breathing deeply with the relief of leaving a turbulent year behind and looking optimistically to the next period. The record reached two years ago, with an investment of millions, still attracts attention. If 2022 ends with more than 3.365 million investments (843 million less than in the previous year), it is estimated that Spanish start-ups this year will receive 42% less financing than in the previous year. Despite the expected cooling in the global economy, ‘Venture capital’ relied on entrepreneurs’ projects Artificial intelligence is the latest technological revolution that will revitalize the circulation of finance for Spanish startups.

This is such a crossover technology It will develop different sectors. One of them is healthWhere AI will set the pace in precision medicine, telemedicine or regenerative therapies. Legit.Health is an example of this field that uses artificial intelligence to diagnose dermatological pathologies and collect clinical data from images taken from mobile phones or cameras. Another area that will emerge in 2024 is renewable energySustainability and its measurement, such as the work conducted by Green Eagle Solutions, which uses a renewable asset automation platform powered by this technology. Finally, finance It will continue to be talked about thanks to ‘fintechs’ like Taglia, which manage businesses on a daily basis through a comprehensive platform designed for this purpose.

What’s clear is that AI will be queen next year and will open the door to great investment opportunities. “There is a great opportunity to realize the potential and use cases of artificial intelligence in applications across all sectors in a safe and reliable way,” explains Luis Garay, partner at venture capital investment fund Samaipata. For example, this technology is expected to revolutionize the digital customer experience as a way to interact with businesses and companies online, bringing them closer to the physical experience. The user interface in tech tools, previously reserved for users with programming knowledge, will include natural language, unlocking endless possibilities. With its widespread use, new challenges will also arise in the management and maintenance of artificial intelligence, especially in enterprise and enterprise environments, which will require appropriate tools and solutions.

Belief in interest rates

The sector has witnessed a systematic decline in the investment world since the beginning of 2021. The war in Ukraine has increased global economic uncertainty, triggered inflation and encouraged central banks to tighten monetary policy to prevent price increases. As a result, financing for startups has become more expensive and venture capital funds are preferred Limit their investments to encourage companies with established business models and well-planned strategic plans. E-commerce was the first victim of the collapse of companies that led the industry around the world due to the end of the restrictions brought by the pandemic, the return to physical restaurants and the restriction of ‘easy’ money.

In this content, Survival of startups remains the main challengeespecially for those who have so far focused on obtaining funding rather than attracting new customers. Although the ecosystem is accustomed to adapting to the global context from year to year, “for startups, these are years of intense major strategic adjustments,” says Diego Fernández, CEO of Gellify Iberia, a platform that connects tech startups with large companies . The changes reflect the pressure experienced by firms facing a much tougher market in terms of investment rounds, market crises and various adjustments.

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yes ok Spain Although following the global trend, the reality is that newly created companies tremendous resilience compared to other countries. The number of operations performed in the current year remained the same or increased slightly compared to the previous year. Alberto Andújar, director of the association between startups and investors BigBan Inversores, says this can be explained by “the excess liquidity present in the markets in previous years, which led to the attraction of foreign funds for technology investment in Spain”. an appetite that increases year by year. “It is also important to highlight the growth in the pre-seed (less than 200,000 euros) and seed (200,000 to 500,000 euros) stages, as well as a slight increase in series B (from 6 to 20 million euros).”

Now, following a 45% decrease in investments in startups in 2023, especially in the European region, funds Improvement in conditions is expected in 2024. Garay stated that market expectations regarding monetary policy have experienced a significant change in recent months, which “could have a positive impact on technology valuations, driving growth and the IPO market in the coming quarters.” Andújar explains that the atmosphere in the industry is that there is “no intention of stopping” in investments; but “there is a slowdown among individual investors or business angels who are paralyzing their investment activities to examine how the market is settling.”

Source: Informacion

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