Europe boasts a “swarm” of global-scale AI companies, according to a leading VC, who stated Europe was well-placed to take a key role in the AI investment boom.
Ziv Reichert, partner at LocalGlobe, the London-based investor which has backed Mistral and Wise, was speaking on the Tech.eu podcast, alongside Bobby Jackle, partner, Visionaries Club, the early-stage European VC.
While the US and China appear to be dominating when it comes to frontier AI labs, observers consider that Europe can build hay in the application layer of AI, which has seen billions of pounds invested in it across the world.
Reichert pointed to the likes of Synthesia, Lovable and N8n as examples of application-layer European startups with a “global-scale”.
Jackle stated: “If I view at the application layer, I consider there is a huge possibility and room for growth in Europe.
“I consider many of these companies will be European-specific but I consider then there is also the chance for some of them to really become global companies.”
The pair discussed a range of issues, including their consumption of AI tools; how their respective VC firms were leveraging AI; AI’s impact on company profits; why AI is a large driver of SaaS adoption; and sifting through the AI hype when creating investments.
Reichert stated: “This is something that as an investment team we are increasingly speaking to founders about.
“It is something we assess when we meet a company for the first time, it’s like ‘how do they consider about scaling the origination alongside AI?’ The reality is you probably necessary a leaner team going forward than you would have two or three years ago.”
Image: Pixabay
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