Geoff Ralston, who many of you might remember from his impactful time at Y Combinator, is back in the investment scene with something new and exciting. He’s just launched the Safe Artificial Intelligence Fund (SAIF), specifically aiming to support startups that are all about making AI safer and more responsibly deployed.
Ralston’s fund is planning to offer $100,000 investments with a total cap of $10 million. He’s using a flexible ‘safe’ investment model, which is a nod to the pre-seed funding approach Y Combinator pioneered. This is a pretty significant move, especially when you consider how the current investment climate is buzzing with interest in AI startups. But Ralston’s focus is a bit different—he’s all about ‘safe AI’.
He acknowledges that while many AI projects are solving problems and creating efficiencies, safety isn’t always the top priority. “The vast majority of AI projects out in the world today are using the technology to solve problems or create efficiencies or create new capabilities. They are not necessarily intrinsically unsafe, but safety is not their primary concern,” Ralston mentioned in a recent interview.
So, what’s he looking for? Ralston is keen on startups that can enhance AI safety, like those working on clarifying AI decision-making processes or benchmarking AI safety. He’s also interested in products that protect intellectual property, ensure compliance, combat disinformation, and detect AI-generated threats. And he hasn’t stopped there; he’s also interested in AI tools designed with safety in mind, like advanced AI forecasting and business negotiation tools that keep sensitive information secure.
One thing Ralston is steering clear of is the development of fully autonomous weapons. “There are certainly uses of AI which would (will) be unsafe: using the technology to create bioweapons, to manage conventional weapons without a human in the loop, etc.,” he clarified. Instead, he’s interested in funding ‘weapon safety systems’ that could prevent or detect AI-induced threats. This is quite a different take from some of the current defense tech narratives out there.
After leaving Y Combinator in 2022, Ralston brings a wealth of experience and connections to SAIF. He plans on mentoring startups much like he did at the accelerator, guiding them through Y Combinator applications and helping them tap into his extensive network of investors.
Even though there’s a growing interest in AI from venture capitalists, Ralston’s specific focus and network might just give him a competitive edge. However, there are still some details under wraps, like the exact size of the fund, the number of startups he plans to support, and who’s backing the fund.
