{
  "docId": "019dd923-5e88-73ef-bd5d-0856e1444fb9",
  "docSlug": "8757f1b44ef7f176",
  "documentTitle": "2024 Air Street Capital The State of AI Report 2024",
  "authorId": "AirStreetCapital",
  "authorName": "Air Street Capital",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "vc_research",
  "sourceTypeLabel": "VC research",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.777,
  "pageNumber": 170,
  "pageCount": 213,
  "prevPage": 169,
  "nextPage": 171,
  "slideType": "industry_trends",
  "function": "summarize",
  "density": "overcrowded",
  "nDataPoints": 2,
  "notes": "The slide discusses the emergence of defense tech startups like Anduril and Helsing, contrasting their successes with the overall small scale of the sector relative to traditional defense spending.",
  "elementsJson": [
    "headline_text",
    "bullet_list",
    "photo"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5e88-73ef-bd5d-0856e1444fb9/170",
  "deckHref": "/decks/019dd923-5e88-73ef-bd5d-0856e1444fb9",
  "deckJsonHref": "/decks/019dd923-5e88-73ef-bd5d-0856e1444fb9.json",
  "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd5d-0856e1444fb9#slide-170",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "However, the European ecosystem remains small and the Pentagon's AI investments remain a rounding error on its balance sheet - the sector is far from achieving escape velocity.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd952-47c3-7407-8d20-bde751a2ce38",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.4,
        "w": 0.38,
        "x": 0.59,
        "y": 0.43
      },
      "kind": "image",
      "text": "Unmanned submarine on a dock",
      "attrs": null,
      "subkind": "photo",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "33efc82f-456b-4b73-8276-7d54de87488d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.55,
        "x": 0.03,
        "y": 0.69
      },
      "kind": "list",
      "text": "In Europe, Helsing hit a $5.4B valuation, with the backing of US investors. As well as partnering with primes, the company is working on integrating AI into Ukrainian made drones.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1c6a3dda-e2f9-4bec-a83b-0647ada3f87d",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.12,
        "w": 0.55,
        "x": 0.03,
        "y": 0.33
      },
      "kind": "list",
      "text": "Anduril scored a number of crucial wins, getting down to the final two options in US Air Force's Collaborative Combat Aircraft program, expanding its UK work, and delivering its first unmanned submarine in Australia.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "57055be2-3e9c-4e7f-bd81-e414d2d656f5",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.55,
        "x": 0.03,
        "y": 0.22
      },
      "kind": "list",
      "text": "Since last year's report, we've started to see major contracts awarded to defense challengers, but with the number of winners still small, it's too soon to say a new ecosystem is emerging.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "6cc8cbc0-35bc-4b85-813c-039a33f4c6f1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.55,
        "x": 0.03,
        "y": 0.62
      },
      "kind": "list",
      "text": "The US Defense Innovation Unit is also exploring the use of cheap uncrewed systems.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7bc7b012-d6a3-47fd-954d-0ffadd521305",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.55,
        "x": 0.03,
        "y": 0.82
      },
      "kind": "list",
      "text": "However, the European ecosystem remains small and the Pentagon's AI investments remain a rounding error on its balance sheet - the sector is far from achieving escape velocity.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "c3537ddc-738d-483f-9877-65f7f9a20454",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.15,
        "w": 0.55,
        "x": 0.03,
        "y": 0.46
      },
      "kind": "list",
      "text": "The Pentagon's Replicator program, focused on attritable autonomous systems, has secured its first $500M of funding. This should be fertile territory for start-ups, but its first award went to AeroVironment, a public company.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fcaadb7e-0e58-4f24-afe4-d93b4ca1d889",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "metric",
      "text": "valuation: $5.4B",
      "attrs": null,
      "subkind": "primary",
      "toolName": "Quantification",
      "toolSlug": "quantification",
      "confidence": null,
      "componentId": "019dd952-47c3-7407-8d20-c1dc9a548717",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.6,
        "x": 0.03,
        "y": 0.14
      },
      "kind": "title",
      "text": "AI-first defense challengers scale, but are they exceptions?",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bc7c92f1-bc80-4018-a4a0-4e8957de5d18",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [
    {
      "name": "Action Titles",
      "slug": "action-titles",
      "agent": "Architect",
      "layer": "slide",
      "matchId": "019dd95a-1055-74e0-a95a-6aca1daa28d0",
      "evidence": "Title 'AI-first defense challengers scale, but are they exceptions?'",
      "confidence": 80
    },
    {
      "name": "Thesis archetype",
      "slug": "thesis-archetype",
      "agent": null,
      "layer": "slide",
      "matchId": "95a22552-7579-4124-bffd-c8fa2aa75523",
      "evidence": "AI-first defense challengers scale, but are they exceptions?",
      "confidence": 0.7
    }
  ],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 204,
      "from": 154,
      "beatId": "019dd95a-0682-776c-8e35-605159a069e6",
      "arcName": "The Triple Take",
      "arcSlug": "triple-take",
      "beatName": "The Implications (So What)",
      "beatSlug": "triple-take-the-implications-so-what",
      "evidence": "Politics + Safety sections explore consequences and risks",
      "position": 2,
      "confidence": 78,
      "parentBeatName": "Reflection",
      "parentBeatSlug": "reflection"
    },
    {
      "to": 174,
      "from": 86,
      "beatId": "019dd95a-0682-776c-8e35-73133c63a096",
      "arcName": "Voyage and Return",
      "arcSlug": "voyage-return",
      "beatName": "Discoveries",
      "beatSlug": "voyage-return-discoveries",
      "evidence": "Industry + Politics findings on NVIDIA, regulation, geopolitics",
      "position": 3,
      "confidence": 55,
      "parentBeatName": "Development",
      "parentBeatSlug": "development"
    }
  ],
  "loops": [
    {
      "to": 171,
      "from": 168,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "019dd95a-07fe-70ce-8d3e-68592628d2ef",
      "evidence": "Net-zero slips 160%, 5GW grid strain, defense lag, Ukraine UAV race",
      "position": 19,
      "objective": "Surface compounding cost of compute hunger and security gaps",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 60,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}