Hey there! We're plunging headlong into the world of analytics this week. If you're looking for a break from all those numbers, be sure to take a peek at last week's digest for some intriguing articles and podcasts. Hit that subscribe button, and let's roll!
Generative AI capabilities have captured everyone's attention. But for it to truly benefit businesses, they must transform across the board — digitalize processes, collect data, train employees, and more. Not every company is ready to invest heavily in this endeavor. It is quite an undertaking.
Yet Europe appears to be home to the most forward-thinking top managers. According to a recent Accenture survey, among 2,300 top-level executives, a remarkable 91% of European companies are allocating a significant portion of their budgets to generative AI initiatives, while North America’s figure is 87%.
At the same time, Dealroom's data suggests that, in fact, about 90% of all global venture investments in generative AI are raised by American companies. Moreover, according to the same Accenture report, 42% of Europeans struggle to recruit suitable talent to support these projects, compared to only 34% of Americans.
Find more details in the Tech.eu review.
Every new report we've analyzed at Uniborn fuels our optimism that the venture winter might end in the near future — perhaps even next year.
One source of encouragement is Finch Capital, which recently released its eighth annual report on the state of European fintech. According to their assessment, the year 2023 will still bear the scars of the challenging (too weak a word) 2022. In the first half of this year, the sector saw a crash in funding by over two-thirds, dropping to €4.6 billion from the robust €15.3 billion during the same period in 2022.
However, as Radboud Vlaar, managing partner at Finch Capital, emphasized, "This will continue to be painful for the next 12 months, but will result in a more healthy and sustainable Start-up, Hiring and Investor ecosystem."
Find more details in the Finch Capital paper.
The industry titans, including Dealroom, Iron Wolf Capital, Google Cloud, Walless, and Startup Latvia, have joined forces to make one thing clear: the Baltics region, often referred to as the New Nordics, is a true investment hotbed. This is especially true about early-stage (€0-€15M) and breakout-stage (€15-€100M) funding and even more so when the topic of cutting-edge technologies, such as AI, comes up.
This exciting development is outlined in the inaugural Baltic Deep Tech Report, and here's the scoop:
Find more details in the Baltic Deep Tech Report 2023.
Cover image: Unsplash
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