Big companies are trumpeting the value of consumer-facing personal digital helpers to make our lives easier
Silicon Valley visionaries dream of making mega-money out of cool, futuristic products that thrill consumers, such as the metaverse, self-driving cars or health-monitoring apps. The duller reality is that most venture capitalists generate the best returns from investing in boring stuff sold to other businesses. Over the past two decades, Software-as-a-Service has emerged as one of the most lucrative fields for VC investment, generating 337 unicorns, or tech start-ups valued at more than $1bn.
In a recent discussion, the partners at Y Combinator said the Silicon Valley incubator had been deluged with mind-blowing applications from start-ups looking to apply AI agents to fields that include recruitment, onboarding, digital marketing, customer support, quality assurance, debt collection, medical billing, and searching and bidding for government contracts. Their advice was: find the most boring, repetitive administrative work you can and automate it.
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