The Future of AI Unfolds at SF Tech Week: Agentic & Vertical AI VC Fireside + Networking Event Hosted by Untapped Ventures and Georgian
Inside SF Tech Week’s Premier AI Event: Uniting Visionaries, Investors, and Innovators in Agentic and Vertical AI
Last week, Untapped Ventures and Georgian co-hosted an electrifying event during SF Tech Week that brought together the brightest minds in the Agentic and Vertical AI space. The Agentic & Vertical AI - VC Fireside + Networking event was a resounding success, drawing over 1,000 registrants and packing the venue with innovators from tech giants like Google, Meta, Amazon, and JP Morgan.
As an early-stage VC firm based in LA, Untapped Ventures has positioned itself at the forefront of the AI revolution, focusing on investments in agentic and vertical AI companies that uplift humanity. Our most recent investment in ScienceIO was the largest M&A deal of Q1 2024 and wanted to build on the momentum by inviting some of the brightest minds in agentic AI to come together and discuss top issues, trends, and opportunities in the industry.
Check out our sizzle reel below to catch the energy and excitement from this unforgettable event!
The AI Revolution: A $200 Billion Opportunity
Before diving into the event highlights, it's crucial to understand the magnitude of the AI revolution we're witnessing. Goldman Sachs estimates that global investment in artificial intelligence (AI) could reach a staggering $200 billion by next year. Even more impressively, Zion Market Research suggests this total could more than double to $422 billion by 2028.
To put this in historical context, as the Goldman Sachs report points out:
"Innovations in electricity and personal computers unleashed investment booms of as much as 2% of U.S. GDP as the technologies were adopted into the broader economy. Now, investment in artificial intelligence is ramping up quickly and could eventually have an even bigger impact on GDP."
This perspective underscores the transformative potential of AI, particularly in the realm of Agentic and Vertical AI, which was the focus of our event.
Defining Agentic AI: The Next Frontier
Agentic AI represents the cutting edge of artificial intelligence. Unlike traditional AI systems that simply respond to specific inputs, Agentic AI aims to create AI agents capable of independent decision-making and task execution. Agentic AI represents a paradigm shift in how we interact with and utilize artificial intelligence. It's designed to connect and interact with other systems, perform multi-step tasks, and take actions based on complex goals and plans.
These agentic AI systems leverage large language models and can operate in real-time, understanding and generating natural language while automating complex workflows. One of the key aspects of agentic AI is its ability to automate complex, multi-step processes that traditionally required significant human oversight.
VC Fireside Chat: Insights from Industry Leaders
The VC panel brought together some of the most influential minds in AI investment. You could hear a pin drop in the room, as VCs including Arash Afrakhteh, Partner at PearVC, Andrew Brackin, Partner at Gradient, Alejandra Vergara, Principal at Bee Partners, Pranav Reddy, Founding Investor at Conviction, Nahim Nasser, Head of Engineering at Georgian, and Jon Chu, Partner at Khosla Ventures, led the room in captivating conversation.
These industry leaders shared their perspectives on the future of AI, what they look for in potential investments, and how to navigate the challenges of scaling an AI startup.
Key Takeaways from the VC Panel
The Agentic AI Landscape: The panel agreed that Agentic AI represents a paradigm shift in how we interact with and utilize artificial intelligence. They emphasized the importance of understanding where Agentic AI fits within the broader AI ecosystem, including its relationship to Vertical and Horizontal AI.
Investment Trends: Several emerging trends in the AI investment space were highlighted. While certain areas are becoming saturated, there are still numerous untapped opportunities, particularly in what was referred to as the "last mile" delivery of an agentic workforce.
Challenges to Adoption: Insights from extensive research studies on AI adoption were shared, identifying key blockers that are currently hindering full-scale AI implementation across industries. These insights provided valuable context for both founders and fellow investors in the audience.
Vertical vs. Horizontal AI Debate: One of the most engaging discussions centered around the ongoing debate between Vertical and Horizontal AI approaches. The panelists offered diverse perspectives on which approach is likely to create the biggest companies and largest outcomes in the market, providing food for thought for the entrepreneurs in attendance.
Evaluating AI Startups: When asked about their criteria for assessing Agentic AI startups, the VCs emphasized the importance of balancing a founding team's domain expertise with their technical capabilities in AI. They also shared advice on common pitfalls founders should avoid when pitching to VCs in the AI space.
Founder Fireside Chat: Lessons from the Frontlines
The second panel featured successful AI founders who shared their experiences and insights. In a candid yet insightful conversation, leading agentic AI founders including Saurabh Sharma, CPO at You.com, Ashar Rizqi, Founder at Bounti.ai, Jonas Diezun, Co-founder & CEO at Beam, Max Ahrens, Co-founder & CEO at MAIHEM, Omar Shaya, Founder at MultiOn, and Jacky Wong, Head of AI at Nullify, shared their personal experiences and perspectives on where the industry is now and where we’re heading.
These founders offered a wealth of practical advice and real-world experiences that enlivened the room filled with everyone from first-time entrepreneurs to successful VC partners.
Highlights from the Founder Panel
Building Effective Agents: The founders shared their technical approaches to building agents that work effectively in real-world applications. They discussed key challenges they faced and how they overcame them, providing valuable insights for early-stage founders in the audience. The discussion touched on how agentic AI systems can be deployed to handle complex tasks and automate multi-step processes.
Customer Acquisition and Trust: The critical issue of customer acquisition while building trust in AI solutions was addressed. Recent surveys were referenced, highlighting the current trust gap in AI for job-related tasks. However, it was noted that many are hopeful they'll eventually trust AI, with human oversight being a key factor. Strategies for navigating this trust gap were shared, emphasizing the role of human oversight in product development.
Vertical vs. Horizontal Strategies: The founders engaged in a lively debate about whether to start with a horizontal or vertical approach, and whether to pivot later. Compelling cases were made for both strategies, with some arguing that a vertical focus helps in developing more effective agents.
Scaling and Exit Strategies: Visions for scaling companies and potential exit outcomes were shared. The challenges of reaching the coveted "unicorn" status with $100M ARR were discussed, offering insights into how companies are positioning themselves for long-term success in the agentic AI space.
Advice for Early-Stage Founders: Perhaps the most valuable segment of the panel was the advice offered to early-stage founders. The panelists shared hard-earned lessons on starting, building, acquiring customers, and raising capital in the Agentic AI space. They emphasized the critical factors for success in this rapidly evolving industry, providing a roadmap for aspiring AI entrepreneurs.
Networking and Deal-Making
Following the panel discussions, attendees had the opportunity to engage in dedicated networking time. The energy in the room was palpable as founders connected with VCs, exchanged ideas with fellow entrepreneurs, and explored potential collaborations. Several attendees reported making valuable connections that could lead to future investments or partnerships.
Looking Ahead: The Future of Agentic and Vertical AI
As the global autonomous AI and autonomous agents market is projected to grow from $4.8 billion in 2023 to $28.5 billion by 2028 (a CAGR of 43.0%), events like this one hosted by Untapped Ventures and Georgian will play a crucial role in shaping the future of the industry.
The insights shared and ideas generated from the incredible community in attendance at this event will undoubtedly contribute to the acceleration of Agentic and Vertical AI development and adoption. For those who missed this transformative event, stay tuned for future opportunities to engage with Untapped Ventures and the broader AI community.
As we stand on the brink of an AI-driven future, one thing is clear: the companies and investors who understand and harness the power of Agentic and Vertical AI will be the ones shaping the technological landscape for years to come. Agentic AI promises to revolutionize industries by automating complex workflows, enhancing customer service, and enabling AI to take on increasingly sophisticated tasks with minimal human intervention.
If you’re beefing up your investments in agentic or vertical AI and/or use of AI in your company and would like to chat, drop us a note at hello@untapped.ventures and we'll get right back to you!
If you’re a founder building in AI, we’d love to hear from you! Pitch us here.