More than a third of the hottest enterprise tech startups are focusing on generative AI, with even more incorporating the technology as a service or feature. This marks a significant shift from previous years, where only 3% of companies in 2021 were AI models and tools companies, compared to 43% being software-as-a-service startups in 2019.

The founders and CEOs of the companies on the list are predominantly millennials, with a median age of 35 for early and mid-stage company CEOs. However, the list shows a lack of diversity, as just 2% of CEOs and 6% of founders are women, and only 2% of both groups are from underrepresented minorities.

The current interest in AI technologies among businesses is driven by improvements in technology and reductions in costs, making previously theoretical applications more economically viable. This enthusiasm is largely grassroots, stemming from developers and small teams excited about building innovative solutions.