Monday, March 11, 2024

tech pac-man

Startups winning vs. incumbents.
Gradually, then suddenly. Guess the company. 		 View in browser
CBINSIGHTS March 11, 2024

Need for speed
Hi there, 

Tech is eating industries.

We’ve covered this “gradually, then suddenly” phenomenon across financial services, healthcare, and other industries broadly for years now.

Startups’ key advantage is their ability to move quicker than incumbents on product innovation.

One banking incumbent we spoke with last week — now a customer of cloud-based core banking provider Thought Machine — describes the difficulty of innovation: 

Below, we look at where startups are moving faster than incumbents in our recent conversations with customers — and how generative AI is accelerating the pace of change. 
The transcript

For this buyer,  AI development platform Together beat out Google and AWS because of its pace of innovation. 
Read the full transcript here.

Agility and customer-responsiveness set LiftForward apart from traditional financers. 

Read the full transcript here.
Loyal Guru’s collaboration and flexibility beat out Salesforce and Comarch in loyalty management. 

Read the full transcript here.
GenAI disruption 

This need for speed is only getting more acute with generative AI now accelerating the pace of change in tech.

Here’s the perspective from one exec we spoke with last week: 

It's really just genAI as a whole is picking up a lot of heat. We really wanted to tap into the opportunities that genAI and LLMs can provide quickly, because the speed that someone can execute is as important in today's world. — Head of AI, $1B+ valuation technology company

Using our earnings transcript search engine, we see companies across industries are talking about genAI.

Even all the blockchain hype a couple of years ago pales in comparison to the attention generative AI is getting from execs.

We’re also observing Wall Street analysts asking management teams about their GAI strategy and/or impacts.

It is clear generative AI is on the mind of public market investors, execs, and boards. 
See the trends, markets, and companies we’re tracking this year in our 2024 tech trends report.
Guess the company

The answer to last week’s guess the company was Olipop.

Reply here with your guess based on the clues below. (No Googling allowed — this is an easier one). Winners get bragging rights. 

This company: 

  • Competes in the industrial humanoid robots market pictured above on CBI
  • Raised a $675M funding round earlier this year
  • Is backed by investment arms of Amazon, Intel, Nvidia, Microsoft, OpenAI, and Samsung
  • Counts BMW as an early commercial partner
I love you. 
 

Anand 

@asanwal 

P.S. New transcripts on CB Insights include: 
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