“Saying AI today is like saying software”
“Saying AI today is like saying software,” said Eyal Niv. “Can you build a high-tech company without software? Probably not.” Niv, Managing Partner at VC fund Pitango, commented that in today’s environment, whether founders are building a new application or building for the infrastructure, “in both cases you need a very strong AI component.” Furthermore, the AI revolution, coupled with massive capital investments from global tech giants, means local founders are now able to “develop the entire stack in Israel from day one.” Said Niv: “The combination allows us to play in the NBA.”
Niv explained that the speed of the industry is altering the expectations for founding teams. “Historically we used to build technology and then once the technology was built, build a product and then go to market,” he said. “Nowadays you don’t have time for that. Things are moving so rapidly you have to do all things at the same time.” As such, Niv stressed that the bar for entrepreneurs is higher than ever, being able to execute sales, marketing, and product development in parallel while operating at an international standard. “They have to be top notch in every form,” he stated. “They have to be born unicorns.”
