At the recent Web Summit in Lisbon, a striking statistic emerged: approximately 90% of AI startups are utilizing a method known as "vibe coding." This revelation came amidst a flurry of activity at Europe’s largest tech conference, which featured prominent talks by industry leaders and entrepreneurs, including former tennis star Maria Sharapova and popular TikTok influencers.
Attendees flocked to hear insights on various topics, from AI advancements to fintech innovations, highlighting the conference's diverse offerings. Ivan Manzhetov, a portfolio manager at KODE, an IT company specializing in mobile development, shared his experience of attending the summit for the first time and the valuable contacts he made, which are now translating into projects with budgets exceeding 90,000 euros.
Manzhetov’s participation was made possible through an unexpected invitation from the Valencia municipality, allowing him to explore the vast landscape of startups and technological advancements showcased at the event. With around 70,000 participants from numerous countries, the conference boasted multiple tracks, hundreds of speakers, and a plethora of startups at various stages of development.
As a portfolio manager focused on fintech, Manzhetov aimed to attend sessions related to banking and AI in finance while also seeking potential client relationships. He developed strategies for engaging with startups, recognizing that many were operating on the "vibe coding" approach, where AI-generated prototypes are common but often lack the robustness needed for successful product launches. This presents an opportunity for KODE to assist these startups in refining their projects into production-ready products.
The conference's atmosphere was electric, characterized by a mix of formal presentations and informal networking sessions. Manzhetov noted that while keynote speeches provided some insights, the true value lay in the conversations held at startup booths and evening meetups. These informal gatherings allowed for deeper discussions about technologies and collaborations, proving to be more beneficial than the scheduled talks.
Overall, the Web Summit revealed key trends in the tech industry, particularly the prevalence of vibe coding as a standard practice for developing minimum viable products (MVPs). This method, while useful for quickly testing ideas, often falters when faced with the challenges of actual development. For the market, this suggests a critical need for experienced partners who can elevate AI projects into sustainable, scalable solutions. As competitors observe these trends, they may need to adapt their strategies to meet the evolving demands of the startup ecosystem.
Informational material. 18+.
