Artificial intelligence can now make custom designed jewellery. And some of the biggest venture capitalists in Silicon Valley are betting on it.
What’s happening:
- Generative artificial intelligence marketplace Arcade AI has raised $17M USD in venture capital funding
- The financing round was led co-led by Reid Hoffman and Ashton Kutcher, with notable participation from other angel investors including Elad Gill, Colin Kaepernick and Karlie Kloss
The big idea:
- Arcade AI allows users to leverage artificial intelligence technology to easily design new products through simple prompts and suggestions
- Arcade AI has initially launched their product creation marketplace with a focus on jewellery, with plans to roll out other types of product design capabilities soon
- Once a user has selected a design they want, Arcade AI leverages a network of independent designers and jewellers to actually manufacture it
Why it matters:
- Artificial intelligence has been rapidly finding new applications and has begun to disrupt everything from how lithium batteries are produced to coding and software development
Going deeper:
- Arcade AI is also allowing users who have designed a piece of jewellery to allow others to buy their product concept, offering a small revenue share on any future purchases of the item
The intrigue:
- While Ashton Kutcher is well known for his successful career as an actor and producer in Hollywood, he has been a highly successful venture capitalist and early angel investor into technology companies such as Uber (NASDAQ: UBER) and Airbnb (NASDAQ: ABNB)
