The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch 20VC: Why The Future of AI Is Open Not Closed, Why We Are Years Away From AI Being Autonomous, Why AI Founders Do Not Need to Move to the Valley & Why Founders Should Not Meet Investors in Between Rounds with Clem Delangue @ Hugging Face
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May 12, 2023 Clem Delangue, Co-founder and CEO of Hugging Face, discusses the journey from a Tamagotchi startup to a leading AI platform. He emphasizes the importance of open-source AI, arguing it will surpass closed models in the long run. Clem highlights that true AI autonomy is still years away and addresses the hype surrounding AI, distinguishing between realistic advancements and exaggerations. He also stresses the need for proactive regulations in AI to combat biases. Alongside these insights, he shares crucial advice for founders on pivoting and navigating investor relationships.
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Hugging Face's Pivot
- Hugging Face began as a Tamagotchi-like AI companion app.
- It pivoted to an AI platform after the underlying technology gained traction.
AI Catch-Up
- Current VC and mainstream interest in AI is catching up to real-world usage.
- AI was already widely used in products like Google, Facebook, and Zoom.
Open Source's Impact on AI
- Open science and open source have driven most AI progress.
- Sharing research like the "attention is all you need" paper accelerated development.