Venture Capitalist Predicts 20-Year AI Transformation Reshaping Global Industries

Raj Ganguly, co-founder and co-CEO of venture capital firm B Capital, predicts a 20-year artificial intelligence (AI) super cycle that will profoundly impact global industries. Speaking on CNBC's 'Beyond the Valley' podcast, Ganguly asserts that this transformative period is just beginning and will alter every aspect of life, from drug development to the job market.

AI Super Cycle Underway

Ganguly emphasizes that the AI super cycle, characterized by persistent growth in the market, is in its early stages. Since the launch of ChatGPT nearly three years ago, major companies have invested billions into AI technology. Goldman Sachs also recognizes AI as a key factor in the next super cycle.

Three Major Shifts in Tech

Ganguly highlights three significant shifts he has observed since the late 1990s. First, Silicon Valley is experiencing a resurgence with generative AI, though its share of the global tech ecosystem has decreased. Second, solo founders can now leverage AI to build and code without traditional resources. Third, the focus is shifting from consumer-facing companies to deep tech, such as advanced semiconductors and generative AI.

“We're in the very early stages, the third or fourth year of this AI super cycle. And it's probably a 20-year super cycle. Maybe it's a 15-year super cycle, but it is going to change the world,” says Ganguly.

Global Impact and Innovation

The AI transformation is not limited to the U.S. Ganguly points to India as a hub for developing AI-native applications. These apps, designed to work with any large language model (LLM), are poised to become market leaders in the U.S. and Europe within the next five years. He also notes that innovation in Asia is no longer about copying U.S. models but driving fundamental changes.

Bubble Concerns

While acknowledging the current excitement around AI, Ganguly warns of potential overvaluation. “I do think we're in a bit of a bubble … it's frothy because people think that, in the next five years, AI is going to change the world [but] it always takes longer than what people think,” he explains.

References

• We're in an AI 'super cycle,' top investor says — and it could last 20 years