Stories of Technology, Innovation, & Entrepreneurship in the Southeast

WRAL TechWire reports that Raleigh Founded‘s North Street location was filled last Thursday night for the eighth annual “State of the Region” delivered by Tom Snyder, Executive Director of RIoT and a regular contributor to the publication.

According to the article, the big takeaway from this year’s talk was artificial intelligence (AI) and data. Snyder didn’t pull punches, at one point predicting that this will be the year when companies “experiment” more with AI tools replacing workers. It remains to be seen if the technology is ready for that role, but research shows AI can make employees up to nine times more efficient. As Snyder pointed out, even the personal computer – a huge milestone for efficiency gains – made employees only four times more efficient.

He made a number of comparisons between North Carolina and Virginia during the address. Both states are consistently ranked high for the quality of life, both have a highly-talented workforce and – at least for now – both are affordable. These are keys, according to Snyder, for remaining competitive in small business and economic development, as well as attracting area investments.

That said, Snyder pointed out that the state of Virginia is making its own investments in area start-ups. The state has developed a matching program for venture capital firms, allowing state support for venture-backed, Virginia-based start-ups.

Snyder ended looking forward, acknowledging that we’re in a period of uncertainty. Between the incredibly dynamic nature of AI and emerging technologies, plus the shift in federal priorities and funding, many companies and non-profits are proceeding cautiously. Leaving politics aside, Snyder encouraged companies to stay involved and supportive of their small business and start-up community.

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