The Future of Generative AI and Legal Tech

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Todays show:

Alex is joined by Joff Redfern and Derek Xiao of Menlo Ventures to discuss the significant role AI plays in modern workflows. We look behind the numbers of their recent report: “2024: The State of Generative AI in the Enterprise” while exploring AI spending trends in enterprises, with a focus on its impact on the healthcare and legal sectors. The conversation highlights popular AI use cases, the role of large language models in content creation, and workflow automation. We delve into advances in generative AI applications, enterprise spending, strategies for AI startups, training AI for market verticals, and the future of artificial general intelligence.

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Timestamps:

(0:00) Joff Redfern and Derek Xiao join Alex

(4:08) Yahoo's evolution and Anthropic's recent funding (6:23) AI spending trends in enterprises

(10:14) LinkedIn Ads - Get a $100 LinkedIn ad credit at http://www.linkedin.com/thisweekinstartups

(12:20) AI's impact on healthcare and legal sectors and its rapid adoption (19:25) Popular AI use cases in enterprises

(20:56) Zendesk - Get six months free at https://www.zendesk.com/startups

(23:17) The role of LLMs in content creation and workflow automation (27:04) Advances in generative AI applications and agentic systems

(30:43) Beehiiv - Get 30 days free and 20% off your first 3 months at https://www.beehiiv.com/twist

(32:14) Enterprise generative AI spend, ROI, and budget expansion (38:45) Selecting generative AI tools and AI-first startup opportunities (47:43) Competition and strategies for AI startups (50:10) Training AI for market verticals and the future of AGI (53:03) Recap of enterprise AI spend and trends

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Links from the show: Check out Menlo Ventures: https://menlovc.com/ Menlo’s report “2024: The State of Generative AI in the Enterprise”: https://menlovc.com/2024-the-state-of-generative-ai-in-the-enterprise/

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LinkedIn: https://www.linkedin.com/in/mejoff/

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Follow Derek:

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LinkedIn: https://www.linkedin.com/in/derekgxiao/

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LinkedIn: ⁠https://www.linkedin.com/in/alexwilhelm

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