According to a report by McKinsey, generative AI could have an economic impact of $2.6 trillion to $4.4 trillion annually. For context, the United Kingdom's entire GDP in 2021 was $3.1 trillion. Roughly 75% of that value will emanate from productivity gains across customer operations, sales and marketing, software engineering, and R&D. AI's eye-popping potential has given rise to numerous enterprise generative AI startups focused on applying large language model technology to the enterprise context. Standard products include employee copilots, content generation for marketing, back-office automation and enterprise knowledge search. With the enormous opportunity, enterprise generative AI startups have multiplied quickly over the past two years. A search for AI customer service chatbots alone returns hundreds of startups. Two factors help explain the significant number of applied AI startups. First, LLM technology is readily accessible via APIs from large AI research companies...
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