As technology continues to rise in influence over day-to-day life, investors are paying close attention and taking advantage of the opportunities. In recent months, many venture capitalists have been making bold moves, acquiring stakes in new startups and investing in innovative tech and AI applications.
At the same time, entrepreneurs and business owners are looking for the best ways to make the most of AI and deploy new strategies. Here, in TechCrunch’s newest roundup, we take a look at some of the venture capital partners who are currently pursuing new investments, AI best practices, and zero-based budgeting.
1. Venture Capitalists Taking Pitches
With VCs looking for the next great tech investment, it’s no surprise that some are open to hearing pitches from promising startups. Among these are Andreessen Horowitz, Menlo Park-based firm that has a history of investing in startups. They are currently seeking innovative ideas within artificial intelligence, cyber security, and sustainability.
Meanwhile, Founders Fund, another leading VC firm in Silicon Valley, is currently taking pitches from entrepreneurs in multiple sectors, including media, data analytics, and machine learning.
Not to be left out, GV, Google’s venture capital arm, is also on the lookout for startups with potential. They are hoping to find disruptive applications in business, government, healthcare, and education.
2. Best Practices for AI Applications
The use of AI is becoming increasingly popular in many industries, with businesses turning to machine learning algorithms to automate mundane tasks and complete complex projects with fewer resources. While it’s an incredibly exciting time, there are some best practices to consider when it comes to AI applications.
One important step is to implement an internal risk management system. This should assess the potential impact of an AI system and ensure proper oversight throughout the process.
It’s also important to ensure transparency. Companies should let customers, employees, and other stakeholders know how AI is being used, and how their data is collected, stored and used.
Finally, it’s essential for companies to keep up with the latest AI trends, such as deep learning and natural language processing, and how they can be applied to increase efficiency and improve user experience.
3. Zero-Based Budgeting
Given the constant growth of technology, many businesses are turning to zero-based budgeting, a method of allocating resources that takes a company’s overall financial goals into account.
By taking a look at every expense, each year, businesses can determine where costs should be cut and new investments made. This type of budgeting helps businesses maintain a healthy balance sheet and spend responsibly, while also allowing them to rapidly adjust to changing market conditions.
Zero-based budgeting also helps businesses effectively manage their fiscal responsibility, allowing them to invest in thoughtful ways and allocate resources for the long-term health of the organization.
The bottom line is that technology is transforming how venture capitalists invest, how businesses leverage AI applications, and how businesses budget and manage spending. By staying up to date, entrepreneurs and business owners can take advantage of the many opportunities that can be found in these changing times.
