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{"id":35735,"date":"2023-06-22T22:47:08","date_gmt":"2023-06-22T22:47:08","guid":{"rendered":"https:\/\/scienceandnerds.com\/2023\/06\/22\/dropbox-launches-50m-ai-focused-venture-fund-intros-ai-features\/"},"modified":"2023-06-22T22:47:09","modified_gmt":"2023-06-22T22:47:09","slug":"dropbox-launches-50m-ai-focused-venture-fund-intros-ai-features","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2023\/06\/22\/dropbox-launches-50m-ai-focused-venture-fund-intros-ai-features\/","title":{"rendered":"Dropbox launches $50M AI-focused venture fund, intros AI features"},"content":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/21\/dropbox-launches-50m-ai-focused-venture-fund-intros-new-ai-features\/<\/a><\/br>
\nDropbox launches $50M AI-focused venture fund, intros AI features<\/br>
\n2023-06-22 22:47:08<\/br><\/p>\n

\n

Not content to sit on the sidelines of the generative AI race, Dropbox today launched Dropbox Ventures, a new $50 million venture fund focused on startups in the AI space.<\/p>\n

The company\u2019s first venture arm, Dropbox Ventures will provide mentorship in addition to financial support to build AI-powered products that \u201cshape the future of work,\u201d Dropbox VP and GM Sateesh Srinivasan told TechCrunch in an email interview.<\/p>\n

\u201cWe want to advance the AI ecosystem and support the next generation of startups who are taking the lead in shaping the modern work experience through the power of AI,\u201d he said. \u201cDropbox began as an early-stage startup with a simple idea that grew to a service used by hundreds of millions of people around the world, so we have a unique perspective on what it takes to help these types of companies get to the next phase of growth and make an impact.\u201d<\/p>\n

VCs have steadily increased their positions in AI over the past few years, spurred recently by the growth in generative AI. According<\/a> to GlobalData, AI startups received over $52 billion in funding across more than 3,300 deals in the last year alone.<\/p>\n

Corporate initiatives are a major source of that funding. For example, Salesforce Ventures, Salesforce\u2019s VC division, plans<\/a> to pour $500 million into startups developing generative AI technologies. Workday recently<\/a> added $250 million to its existing VC fund specifically to back AI and machine learning startups. And OpenAI<\/a>, the company behind the viral chatbot ChatGPT<\/a>, has raised a $175 million fund to invest in AI startups.<\/p>\n

\u201cWe\u2019ve been investing in AI and machine learning for a long time and started incorporating machine learning across our products as far back as 2016 to make work more efficient for our customers\u2019 and help them save time,\u201d Srinivasan said. \u201cIn just the last few months, recent advancements in AI and machine learning have opened up a new world of possibilities that we think will help us accelerate \u2026 our mission to design a more enlightened way of working.\u201d<\/p>\n

New AI-powered features<\/h2>\n

Putting its money where its mouth is, Dropbox today announced new AI-powered additions to its flagship cloud storage product.<\/p>\n

The first, called Dropbox Dash, is a \u201cuniversal\u201d search bar that can canvas across tools, content and apps from third-party platforms including Google Workspace, Microsoft Outlook, Salesforce and Notion. Designed to help find and organize various types of content, Dash will \u201clearn, evolve and improve\u201d the more customers use it, Dropbox says.<\/p>\n

\"Dropbox<\/p>\n

Dropbox Dash. Image Credits:<\/strong> Dropbox<\/p>\n<\/div>\n

\u201cSoon, Dash will be able to pull from your information and your company\u2019s information to answer questions and surface relevant content using generative AI,\u201d the company wrote in a blog post. \u201cYou won\u2019t need to sift through all your company\u2019s internal links and pages to find out when the next company holiday is \u2014 you\u2019ll just be able to ask Dash and get an answer, fast.\u201d<\/p>\n

In addition to surfacing content, Dash can create collections \u2014 Stacks \u2014 for links, offering a way to save, organize and retrieve URLs. Stacks are accessible from the new Start Page, which also hosts shortcuts to recently accessed work in Dropbox and the Dash search bar.<\/p>\n

\"Dropbox<\/p>\n

The new Start Page in Dropbox. Image Credits:<\/strong> Dropbox<\/p>\n<\/div>\n

Dropbox\u2019s other new AI innovation is Dropbox AI, which summarizes and extracts information from files stored in a Dropbox account.<\/p>\n

Dropbox AI \u2014 powered by an OpenAI model via OpenAI\u2019s API \u2014 can review and generate summaries from documents as well as video previews. And it can answer questions in a chatbot-like fashion, drawing from the contents of research papers, contracts, meeting recordings and more.<\/p>\n

At launch, Dropbox AI works with file previews. But it\u2019ll soon expand to folders and entire Dropbox accounts.<\/p>\n

\u201cDash and Dropbox AI are just the latest examples of how AI and machine learning can improve the way our customers work,\u201d Srinivasan said. \u201cIt\u2019s clear that customers need more personalized AI, and we see applications across our entire portfolio to truly reimagine those experiences \u2026 We believe the cloud world is missing an organizational layer across everything and we believe Dropbox is uniquely suited to be that self-organizing digital container.\u201d<\/p>\n

Given AI\u2019s tendency to go off the rails<\/a>, one might wonder about the accuracy of Dropbox AI\u2019s summaries. Are they consistent? Can they be trusted?<\/p>\n

To allay concerns, Dropbox reaffirmed its commitment to building AI technologies \u201cso that they\u2019re as fair and reliable as possible.\u201d Of course, the words of a corporation don\u2019t carry the same weight as, say, an independent audit, but take them for what they\u2019re worth.<\/p>\n

\u201cIn this next era of AI, it\u2019s more important than ever that we protect our customers\u2019 privacy, act transparently, and limit bias in our AI technologies,\u201d Dropbox wrote.<\/p>\n

Dropbox Dash is currently available in English to select customers in beta. Dropbox AI for file previews is in Alpha, and available in the U.S. to all Dropbox Pro customers ahead of a rollout to select Dropbox Teams.<\/p>\n<\/p><\/div>\n

<\/br><\/br><\/br><\/p>\n

Science, Tech, Technology<\/br>
\n<\/br>
\nSource:https:\/\/techcrunch.com\/2023\/06\/21\/dropbox-launches-50m-ai-focused-venture-fund-intros-new-ai-features\/<\/a><\/br><\/br><\/p>\n","protected":false},"excerpt":{"rendered":"

Source:https:\/\/techcrunch.com\/2023\/06\/21\/dropbox-launches-50m-ai-focused-venture-fund-intros-new-ai-features\/ Dropbox launches $50M AI-focused venture fund, intros AI features 2023-06-22 22:47:08 Not content to sit on the sidelines of the generative AI race, Dropbox today launched Dropbox Ventures, a new $50 million venture fund focused on startups in the AI space. The company\u2019s first venture arm, Dropbox Ventures will provide mentorship in addition to […]<\/p>\n","protected":false},"author":1,"featured_media":35736,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26,17,8],"tags":[],"class_list":["post-35735","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","category-tech","category-technology"],"yoast_head":"\nDropbox launches $50M AI-focused venture fund, intros AI features - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2023\/06\/22\/dropbox-launches-50m-ai-focused-venture-fund-intros-ai-features\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Dropbox launches $50M AI-focused venture fund, intros AI features - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source:https:\/\/techcrunch.com\/2023\/06\/21\/dropbox-launches-50m-ai-focused-venture-fund-intros-new-ai-features\/ Dropbox launches $50M AI-focused venture fund, intros AI features 2023-06-22 22:47:08 Not content to sit on the sidelines of the generative AI race, Dropbox today launched Dropbox Ventures, a new $50 million venture fund focused on startups in the AI space. 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