Founder of Coelius Capital Zach Coelius has attributed the rapid rise in investment into artificial intelligence companies to the extraordinary pace at which the sector is growing, driven largely by strong customer demand and real-world usefulness.
Speaking at the 3i Africa Summit 2026 in Accra, he said AI businesses are recording growth rates unlike anything previously seen in the technology industry.
According to him, companies such as OpenAI, Perplexity AI and Harvey are attracting substantial investor interest because their products are delivering clear and immediate value to customers.
Mr Coelius explained that AI tools are transforming industries by reducing costs, improving efficiency and delivering better outcomes for users. He pointed to the legal sector as an example, noting that AI can now draft legal briefs in a fraction of the time and cost traditionally associated with lawyers.
“When you can magically draft a legal brief — and instead of spending $100 worth of lawyer time, you spend an hour and a fraction of the cost — people are going to choose that every single time,” he said.
He also highlighted the growing use of AI in customer service, particularly within the hospitality industry, where AI-powered systems are increasingly managing restaurant reservations more effectively than human operators.
“When, instead of having someone answer the phone at a restaurant, an AI handles reservations for you, does a better job, never misses a call, and always answers on the first ring — you’re going to use that too,” he stated.
Mr Coelius stressed that the success of AI companies ultimately comes down to customer experience, arguing that users are embracing these technologies because they provide solutions that are noticeably better than traditional methods.
“There are all these examples where customers react with: ‘Oh my God, this is so much better.’ And that’s what’s driving this tremendous revenue growth,” he said.
The venture capitalist noted that he becomes most excited when he encounters innovations that create a clear sense of the future, particularly technologies capable of solving major high-value problems across industries.
He encouraged entrepreneurs, especially those in Africa, to focus on identifying and solving complex challenges that businesses still struggle with today.
“There are entrepreneurs out there — maybe even in this room — who are going to figure out how to solve them,” he remarked.
Mr Coelius concluded by urging innovators to look ahead and seize emerging opportunities within the rapidly evolving AI economy.
