Artificial intelligence is in the early part of a “super cycle” that could take 20 years according to a top investor.
Raj Ganguly, co-founder and co-CEO of the venture capital company B Capital, told CNBCs “Beyond the Valley” podcast that the AI will have a great, global influence in the coming years.
“We are at the very early stage, the third or fourth year of this AI super cycle. And it is probably a 20-year super cycle. Maybe it’s a 15-year super cycle, but it will change the world,” said Ganguly.
A super cycle is usually defined as a long period of the continued growth of a market.
The AI super cycle will “change the world in every aspect,” said Ganguly, as in the development of drugs or in the workplace market, which will record “profound changes”, he added.
It was almost three years ago since the world became aware of the generative AI when Microsoft-Backed Openai published Chatgpt in November 2022. Since then, large companies have poured billions from dollars into technology, while Goldman Sachs said that the world moves into a “different” burial cycle, whereby AI appears as a key factor.
Ganguly described the three “greatest layers” that he saw since he had worked in the technology area in the late 1990s. The Silicon Valley is “big” again with the advent of the generative AI, he said. While he marked the fact that the region made 80% to 90% of the global tech ecosystem, Ganguly suggested that this is now less than half of the market share, which is still “huge”, he noticed.
The second trend that rattles the tech industry is that the sole founders can now be successful without having to buy devices or hiring programmers because AI can help them “build and coden without ever knowing how to build and coded,” said Ganguly. While the previous tech boom focused on consumer companies such as Amazon and Meta, there will be more about “deep” technologies such as generative AI and advanced semiconductors in the next ten years, he said.
“In this next decade, there is a lot about the redesign industry, which has been less touched by the technology, and it goes far beyond consumers [tech]”, Said Ganguly.
Raj Ganguly, co-founder and co-chief executive officer of the B Capital Group.
Bloomberg | Bloomberg | Getty pictures
B. Capital concentrates in addition to the AI on Deep Tech, holding company in the healthcare system and in the climate area as part of its portfolio.
Ganguly identified India as a market that builds AI native apps that can work with any large voice model (LLM).
“The opportunity now and where I think the profit baths will be [is] In this AI native app layer, “he said.
Asked whether the excitement via AI leads to parts of the market “foamy” or overrated – Ganguly said: “I think [but] It always takes longer than what people think. “
Ganguly, who born in India and grew up in the United States, said he was “blown away” by the innovation he had seen when he returned to Asia to work for Bain Capital.
He came from Silicon Valley and said that there was assumption that people in Asia copied successful US business models and brought them to India or China. Instead, Ganguly said that he saw “basic innovation” in Asian countries.
He was a co-founder of B Capital in 2015 alongside Facebook co-founder Eduardo Saverin.
“Now the founders in the USA often say, Hey, you know, we want to find out what the latest in China or India is happening,” Ganguly said in view of the success of apps such as Tikkok or Wechat.
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