Even with recent market ups and downs, the energy around tech investing feels electric again. This is thanks in large part to artificial intelligence. During the latest State of the Industry webinar from York IE, a panel of experienced investors including Christopher Mirabile, John Murphy, and Deepak Sindwani joined moderator Joe Raczka to discuss what’s driving that optimism. The unanimous answer: AI.
AI Is the Next Big Wave
Deepak Sindwani from Wavecrest Growth Partners sees AI as a major force of change. “I do think AI is gonna completely change everything for all of us here,” he said. Just as SaaS dominated the last decade, Sindwani believes AI is the foundation of the next one. There’s opportunity at every stage—from scrappy early startups to scaled growth-stage players.
AI is already reshaping how teams work internally, automating processes, boosting productivity, and sparking entirely new business models. That innovation, Sindwani said, will drive returns and likely lead to a wave of acquisitions as big tech companies race to stay ahead.
Innovation at Lower Cost: AI Feels Like Cloud All Over Again
John Murphy of Hyperplane drew a great comparison: AI today feels like the internet in terms of innovation potential, but like the cloud when it comes to cost.
Back in 2015 to 2017, Murphy explained, AI development was expensive and resource-heavy. Founders had to build and train models from scratch, often on their own infrastructure. Now, thanks to open-source tools and easy access to cloud-based AI platforms, that same work can be done faster and cheaper. “People are starting so much further ahead, for basically free,” he said.
Just like cloud computing changed how startups launched software, this new wave of AI tools is making it easier for entrepreneurs to build powerful products without raising huge rounds of capital. Murphy said he’s “very excited about what that looks like.”
Unlocking Human Potential
Christopher Mirabile from Launchpad Venture Group brought a more philosophical take. While he admitted AI is “a little overhyped” at the moment, he believes the long-term potential is massive and still underappreciated. Like other major technological shifts throughout history, AI will be disruptive but also deeply empowering.
To help frame it, Mirabile quoted Steve Jobs, who once said that the computer was like a “bicycle for the mind.” AI, he suggested, is an even more powerful version of that, giving people access to cloud-based intelligence that extends what humans are capable of. “It’s going to be messy,” said. “But it’s going to be exciting as hell, too.”
What Makes AI So Powerful?
At its core, artificial intelligence refers to computer systems that can perform tasks typically requiring human intelligence. This includes things like understanding language, recognizing patterns, making decisions, or even generating creative content. Thanks to recent advancements in computing power, open-source models, and cloud infrastructure, AI has become more accessible, more affordable, and more impactful, especially for startups.
The Bottom Line: Efficiency Meets Opportunity
Joe Raczka wrapped up the conversation by pointing to how AI is helping founders do more with less. By focusing on fundamentals, using customer revenue to fund growth, and layering in AI-driven innovation, startups can scale more efficiently than ever.
The panel agreed: the AI era is just getting started. And for investors and founders willing to build with purpose and creativity, the opportunities are wide open.
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