AI Startup Sierra

October 11, 2024in Enterprise

Bret Taylor, the board chairman of OpenAI, appeared on CNBC’s “Squawk on the Street” to discuss his AI startup, Sierra, which he co-founded in March 2023. Sierra focuses on helping businesses build AI agents that can directly interact with customers, offering capabilities such as answering questions, automating processes, and performing tasks traditionally handled on websites.

“This is how companies will offer a branded customer experience capable of having conversations and handling everything you can do on the website,” Taylor explained. Sierra is already valued at approximately $4 billion, and Taylor expressed enthusiasm for building a long-lasting enterprise.

Commenting on the current “AI wave,” Taylor predicted the rise of at least 10 “meaningful” enterprise software companies and at least one trillion-dollar consumer company. He also touched on the ongoing discussion around tech regulation, emphasizing that Silicon Valley should focus more on empowering smaller tech companies rather than breaking up larger ones. He noted that the U.S. remains a top destination for entrepreneurs due to its access to capital and relatively light regulation, warning that overly complex regulations could inadvertently strengthen incumbents by increasing challenges for startups.

Taylor’s role at OpenAI became more prominent after CEO Sam Altman was temporarily ousted in November. Since then, he has been guiding the company through a period of transition, including leadership changes and its shift toward becoming a for-profit entity.