Writing-Focused Startups Draw Big Bucks

For years, tech writers have been warning about how AI will eradicate the necessity for all types of human-staffed professions from truck driving to portfolio administration.
Turns out, the AI bots are actually coming for us.
That’s turning into more and more clear amidst the continued tech world buzz round OpenAI’s newly launched ChatGPT writing bot. Today’s tech, it seems, is fairly able to churning out readable, fairly correct prose on a dizzying vary of matters.

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No, ChatGPT gained’t be successful the Nobel Prize for literature. But on this employed-for-now author’s expertise, it really does a reputable job discussing octopus intelligence, dishing up a brownie recipe, or explaining the way to make a ham sandwich within the fashion of the King James Bible.
And OpenAI is only one of quite a few funded corporations engaged on instruments aimed toward both serving to people write or letting computer systems do the job. Using Crunchbase knowledge, we recognized a pattern set of 20 corporations alongside these traces funded previously couple years, listed beneath:

After OpenAI, essentially the most closely funded firm on our record is Grammarly, the AI-powered writing help device that has raised $400 million to this point, together with a $200 million spherical a 12 months in the past at a reported $13 billion valuation.
Next is Jasper, developer of a platform that helps create unique content material whereas optimizing it for ROI and even repackaging it in several methods and in several languages. The Austin-based firm raised $125 million in an October spherical led by Insight Partners that vaulted it to unicorn standing.
Still early days for AI
Altogether, the 20 corporations on our record raised a mixed $1.7 billion to this point. However, of that whole, simply over a billion went to OpenAI, for which writing is however certainly one of a number of focus areas round synthetic intelligence. Even earlier than the ChatGPT launch, the corporate, a nonprofit with a for-profit subsidiary, was producing copious consideration for its DALL·E 2 AI-generated imagery device.
For now, we’re nonetheless early within the introduction of AI-enabled writing instruments, so it’s untimely to foretell a pointy decline in demand for expert human writers. That mentioned, it’s additionally untimely to say these instruments gained’t turn into ok to displace us.
In the meantime, the craft of writing a couple of easy paragraphs round a primary subject — the staple faculty task for numerous a long time — has definitely gotten simpler of late with the assistance of tech. Let’s hope over the long term that seems to be an excellent factor.
Illustration: Dom Guzman

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