How can we develop an AI ecosystem for UK companies? How can tech startups and scale-ups thrive in the UK and Europe? And how did this UK company nearly double its valuation this year?
In this episode of The Business, Synthesia CEO and co-founder Victor Riparbelli joins Hannah Prevett, associate business editor at The Sunday Times, to discuss the company’s rapid success, what AI-generated video creation means for creative industries, and why Riparbelli believes Europe must do more to support the growth of its technology sector.
This entrepreneur story charts the rise of one of Britain’s most valuable AI companies and explores what it takes to build a global business in the UK. Riparbelli argues that if Britain wants to grow the UK economy, it must create a stronger AI ecosystem that helps startups and scale-ups access investment, attract talent and compete internationally.
Synthesia, the AI video generation platform that allows users to generate avatars from plain text, is one of the UK’s biggest AI success stories, with a current valuation of $4 billion.
Headquartered in London, the company is used by 90% of Fortune 100 companies, and 70% of the FTSE100, making Synthesia a major player in the AI video generation space and a leading example of innovation in the tech industry.
Riparbelli also explains why he sees little incentive for fast-growing technology companies to list on the London Stock Exchange rather than the Nasdaq and argues that Europe's cautious approach to innovation risks leaving it behind in the global AI race. He discusses what policymakers, investors and founders can do to create an environment where the next generation of AI startups and scale-ups can flourish.
\"I'm not sure what we really believe in in Europe,\" Riparbelli says. \"In the US, they believe in capitalism. In China, they believe in technology. I'm not sure what we really believe in in Europe.\"
Guest:
Presenter:
Producer: Hope Federico
Executive Producer: Miriam Hall
Photo credit: Synthesia Limited
Get in touch: thebusiness@thetimes.com
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