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While evaluating the machine learning (ML), artificial intelligence (AI), and data (collectively MAD) ecosystem, we find that the industry stands at an unprecedented juncture of growth and innovation. The 2024 MAD landscape by Matt Turck reveals an ecosystem that has matured from niche to mainstream, signaling a paradigm shift with profound implications beyond technical and business domains, extending into societal, geopolitical, and human existential realms.
2024 MAD Landscape by Matt Tuck (Full Version) — Interactive Version
A Decade of Transformation
Over a decade, the MAD landscape has witnessed exponential growth, from a mere 139 companies in 2012 to an astounding 2,011 in 2024. This growth reflects massive waves of company creation and funding, driven initially by the data infrastructure cycle and more recently by the ML/AI wave, particularly with the advent of Generative AI.
Structural Evolution Across the Ecosystem
The 2024 landscape has adapted to the rapid advancements and structural shifts within the ecosystem. Key changes include the introduction of new categories like “AI Observability,” “AI Developer Platforms,” and “AI Safety & Security,” acknowledging the burgeoning activity in AI enablement. Moreover, the explosion of AI companies, particularly in the Generative AI space, necessitated the most structural adjustments, reflecting the dynamic nature of the industry.
Themes for 2024: A Glimpse into the Future
The MAD landscape for 2024 explores 24 themes, from the distinction between structured and unstructured data to the implications of Generative AI on business intelligence (BI) and analytics. It addresses questions surrounding the Modern Data Stack’s vitality, the potential for consolidation in data infrastructure, and the competitive dynamics between data infra giants. Furthermore, it delves into emerging areas like AI agents, Edge AI, and the contemplation of AI’s impact on venture capital and the consumer sector.
The Financial Landscape: Funding, M&A, and IPOs
In a tale of two markets, AI stands distinct with a significant capital concentration in foundational model developers like OpenAI and Anthropic. While overall funding has faltered, AI has seen a surge in corporate investment. The M&A market, however, remains subdued, with anticipation of increased activity as the market matures. Despite a general lull in IPOs, the success of companies like Klaviyo and Reddit highlights the market’s appetite for MAD-related ventures.
Conclusion: On the Brink of a New Era
We are at the cusp of a new era in technology. The sector’s evolution from its nascent stages to a mainstream powerhouse signifies the critical role of data, AI, and machine learning in shaping the future. As the landscape continues to evolve, it heralds a period of boundless opportunities and challenges, reinforcing the notion that we are indeed just getting started on this transformative journey.
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