AI Agents in August 2024 - State of the Union

An overview of the industry of AI Agents based on CB Insights report

Generative AI Agents have come a long way since their inception.
For a couple of years now, different teams are attempting to make AI agents practical and stable, though it seems to be a difficult challenge.

I've made an overview of the current state of AI Agents industry based on the latest CB Insights report.

🔹 AI agents have moved beyond chatbots, tackling sophisticated workflows and decision-making tasks. However, they still face challenges like losing context and getting stuck in consideration loops.
🔹 Investment in AI has skyrocketed—$250M in 2022 to nearly $1B year-to-date. However some companies raised over $100M and still did not release a product.
🔹 From customer support to cybersecurity, AI agents are making a substantial impact across industries. Mostly those Agents are horizontal - i.e. working across industries. Vertical agent solutions are less common these days.
🔹 Despite significant advancements, fully autonomous agents are still in early stages. There's still a big issue moving from a prototype stage to the production stage.

So, Agents are inevitable. There's still a question how hard will it be to make them meaningfully useful, but there's a very clear demonstrable progress being made.

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