Enterprise Weekly #429: Developers Want AI, Decreasing AI Costs, and More
This week, we saw two surveys capture how developers are thinking about their current workflows and how AI will play a role in their future.
Stack Overflow reported 70% of developers are using or plan to use AI tools in their development process this year, while GitHub reported an even higher 92% of developers are already using AI coding.
This is because developers see big benefits to AI-powered developer tools, including increased productivity and collaboration. Developers in enterprise settings work with an average of 21 other engineers on projects — more than 4 out of 5 developers expect AI to make their team more collaborative, and 70% say it will help them more quickly cite better code quality, finish projects, and resolve incidents.
While this all points to quick AI integration across the developer tool chain, developers are split on their trust in the accuracy of these tools — about 42% trust the accuracy of AI output, while 31% are on the fence. From our conversations with practitioners, developer augmentation with humans in the loop seems to be the best path forward vs. complete automation. Additionally, we’ve heard that context is most important when using developer augmentation tools to ensure accuracy, adhere to company best practices, and enable efficient quality assurance processes.
Sam Altman had a lot to say about AI this week (as he usually does), emphasizing that we’re at a tipping point with “sophisticated enough languages and also powerful enough computers that we could make AI bigger and bigger and bigger.” Given the cost of running inference on LLMs can be quite expensive, especially when run at scale, Altman is now focusing on making AI cheaper.
As Priyanka points out in her recent post on Foundation Models & the Path to Enterprise Adoption:
“Deploying foundation models in production is arguably one of the biggest technical challenges today for the enterprise given foundation models are large, slow, and expensive to train and run. Existing solutions such as Hugging Face, A121 Labs, and more enable customers to host their own models, but even comparing the cost of deploying foundation models in production vs. the benefits a business would see from such deployment it's hard to justify the net ROI. Newer tools in this space will need to drive down the cost of these models to make them more appealing to enterprises.”
🍻 Join more events:
June 22nd: NYC Enterprise Game Night: Settlers of Catan
June 27th: B2B SaaS Product Dinner
All Summer Long: Work-Bench Infrasummer
📚 Read more news:
ArsTechnica: OpenAI Rolls Out Big Chatbot API Upgrades For Developers
Engadget: The Reddit Blackout Is Already Forcing Unexpected Changes
NYTimes: Generative A.I. Can Add $4.4T in Value to Global Economy
WSJ Podcast: Startups Wonder Where All the VC Went
WSJ: AI Startups Have Tons of Cash, but Not Enough Data. That’s a Problem.
The Verge: Amazon’s Server Outage Broke Fast Food Apps Like McDonald’s and Taco Bell
📚 Read more (th)reads:
Jonathan Lehr on the state of the market & enterprise in NYC
Anna R. on what really matters in data-driven decision-making
- on current state of product analytics
@jaminball on where value accrues with the AI platform shift
Company: CloudQuery
Role: Developer Advocate
Technology: Cloud Assets & Configuration
Funding: $18.5M from Work-Bench, Boldstart, Mango Capital, Haystack, Tiger Global Management
🌟 Company of the Week 🌟
Glyphic raises $5.5M led by Point72 Ventures
Future of Work • Pre-Seed • London, UK
Founders: Adam Liska (CEO), Devang Agrawal (CTO)
Airdeck raises $750K led by Jack Phan
Future of Work • Seed • Madison, WI
Masthead Data raises $1.3M led by Focal
Data / AI / Machine Learning • Pre-Seed • Toronto, Canada
ZapScale raises $2.5M led by Blume Ventures
Future of Work • Seed • Wilmington, DE
Graphext raises $4.6M led by Hoxton Ventures
Data / AI / Machine Learning • Seed • Madrid, Spain
Astran raises $5M led by SistaFund and Galion.exe
Infrastructure / Dev Tools • Seed • Paris, France
Filigran raises $5.3M led by Moonfire Ventures
Risk / Security • Seed • Paris, France
EdgeTier raises $6.6M led by Smedvig Capital
Future of Work • Series A • Dublin, Ireland
Normal Computing raises $8.5M led by Celesta Capital and First Spark Ventures
Data / AI / Machine Learning • Seed • New York, NY
Silent Push raises $10M led by Ten Eleven Ventures
Risk / Security • Seed • Reston, VA
AptEdge raises $11M led by Stage 2 Capital
Data / AI / Machine Learning • Seed • Redwood City, CA
Sima.ai raises $13M led by VentureTech Alliance
Data / AI / Machine Learning • Venture • San Jose, CA
Deepchecks raises $14M led by Alpha Wave Ventures
Data / AI / Machine Learning • Seed • Tel Aviv, Israel
Elastio raises $18M led by Venture Guides
Data / AI / Machine Learning • Series A • Reston, VA
Blackbird AI raises $20M led by Ten Eleven Ventures
Risk / Security • Series B • New York, NY
Truework raises $24M led by TransUnion
Future of Work • Venture • San Francisco, CA
Kodem raises $25M led by Greylock
Risk / Security • Series A • Tel Aviv, Israel
Vectara raises $28.5M led by Race Capital
Risk / Security • Series A • Palo Alto, CA
CloudZero raises $32M led by Innovius Capital and Threshold Ventures
Infrastructure / Dev Tools • Series B • Boston, MA
Striveworks raises $33M led by Centana Growth Partners
Data / AI / Machine Learning • Venture • Austin, TX
Primer Technologies raises $69M led by U.S Innovative Technology Fund
Data / AI / Machine Learning • Series D • San Francisco, CA
Synthesia raises $90M led by Kleiner Perkins
Data / AI / Machine Learning • Series C • London, UK
Mistral AI raises $113M led by Lightspeed Venture Partners
Data / AI / Machine Learning • Seed • Paris, France
Informatica acquires Privitar for an Undisclosed Amount
Data / AI / Machine Learning • Acquisition • London, UK