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Identifying high-value use cases for AI | Tomasz Tunguz (Founder of Theory Ventures)
Building With AI
Unlocking Value with Modest AI Products
Launching a modest AI product has the potential to significantly increase the Average Contract Value (ACV) for software companies. Some companies have experienced a doubling of ACVs by incorporating AI features, enabling them to charge higher prices per seat. Businesses can capitalize on this opportunity to surge using their existing distribution methods. However, solely offering AI is not adequate to prompt buyer switches as customers now prioritize data control. Buyers are demanding their data to be stored on their cloud, within their Virtual Private Cloud (VPC), and want the application to be portable. This trend may lead to an architectural shift called Cloud Prem, where software companies storing data in multi-tenant databases must re-architect their systems to adapt, such as the pressure Snowflake is currently facing.
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