Three years into the generative AI boom, AI startups primarily profit from B2B sales rather than targeting consumers. While general-purpose large language models (LLMs) like ChatGPT have gained traction, niche consumer applications struggle to make an impact. Experts, including Chi-Hua Chien of Goodwater Capital, argue that the early pioneering AI applications are reminiscent of the initial mobile app landscape, emphasizing the need for a period of stabilization before significant consumer products hit the market. Chien envisions a transformative phase akin to the 2009-2010 mobile boom, hinting at advancements like Google’s Gemini approaching ChatGPT’s capabilities. Meanwhile, Elizabeth Weil from Scribble Ventures notes that current consumer AI apps are stuck in an “awkward teenage” phase and suggests that new devices may be needed for breakthroughs. Innovations like personal AI financial advisers or tutors could emerge, though some are skeptical about the viability of AI-centric social networks, which risk losing the human connection that defines social media.
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