Investments in artificial intelligence (AI) have skyrocketed in the past year, with AI becoming a staple in investment portfolios and new AI unicorns being created regularly. The potential for AI to drive a stock market rebound is gaining traction, and even those outside of the technology industry are becoming familiar with AI terminology.
Leading strategists and thinkers are sharing their views on how AI will transform business, unlock potential, and contribute to human flourishing. Amidst this AI revolution, Mayfield, an early-stage venture capital firm, is taking a “people-first” approach to AI investing. They believe that the application of AI with a people-first philosophy can have a profound impact on society, allowing individuals to become “Human2” – human beings empowered by AI.
Key Takeaway
The “people-first” approach to AI investing focuses on the belief that AI will augment human capabilities, rather than replace them. Mayfield has developed a framework consisting of five key pillars to guide their investment decisions.
Changing the way we interact with computing devices
A significant shift in the way we interact with computing devices is on the horizon. Instead of relying on command lines, graphical user interfaces (GUI), browsers, or mobile devices, conversational interactions with computers will become the norm. This shift will be complemented by the ability of AI to perform cognitive tasks that enhance human capabilities rather than merely automate repetitive tasks.
Mayfield sees a future where AI acts as a human-like copilot, augmenting human abilities and unleashing their full potential. This combination of AI and human collaboration will result in amplified productivity and creativity, ultimately leading to a state of “Superhuman.”
The five key pillars of the “people-first” framework
Mayfield has customized their “people-first” framework to apply specifically to AI companies. They have identified five key pillars that guide their investment decisions:
- Mission and values count: Mayfield believes that a human-centric mission and authentic values should drive AI companies. They seek alignment with founders who understand the impact of their technology and prioritize the well-being of customers.
- GenAI has to be in your DNA: Mayfield looks for founders who deeply understand generative AI and believe in its potential to augment human capabilities. They prioritize design and user experience, ensuring that AI capabilities are seamlessly integrated into human-computer interactions.
- Trust and safety cannot be an afterthought: Mayfield emphasizes the importance of evaluating and ensuring the trustworthiness of AI models. They encourage founders to adopt holistic model evaluation approaches and comply with regulations and guidelines for responsible AI use.
- Data privacy is a human right: Mayfield recognizes the need for data privacy to be a distinct focus. They advocate for companies to implement data control measures and comply with emerging regulations for the ethical use of data in generative AI.
- Superhuman impact can be scored: Mayfield believes that people-first AI can truly elevate humans. They are developing a design framework to measure the potential impact of AI startups on empowering and elevating people.
Mayfield’s people-first approach aims to foster the development of generation-defining AI companies that prioritize the well-being and empowerment of individuals. By championing entrepreneurs and enabling the building of iconic companies, Mayfield envisions a richer, better world empowered by AI.
