Aidan Gomez, a former intern at Google Brain, played a pivotal role in co-authoring the groundbreaking paper “Attention Is All You Need” in 2017. This paper introduced the concept of transformer models which eventually ignited the generative artificial intelligence revolution. In a recent interview with CNBC, Gomez expressed his astonishment at the rapid advancement of technology, stating, “There’s no one in the field who was around back then working who could have foreseen where we are in terms of technological capability.”
After departing from Google in 2021, Gomez went on to co-found Cohere, an AI startup that has garnered support from industry giants such as Nvidia. With a reported valuation of $5 billion, Cohere specializes in developing generative AI models tailored for corporate use. This marks a significant shift from consumer-oriented products like OpenAI’s ChatGPT. Gomez emphasized the tangible impact of these models on businesses, citing research from top institutions like MIT and Harvard that demonstrate remarkable productivity gains.
In June 2023, Cohere secured $270 million in funding at a valuation of $2.2 billion, with prominent investors including Salesforce and Oracle. The company’s executives have participated in influential AI forums at the White House, underscoring their growing influence in the industry. Gomez highlighted the transformative effect of generative AI on companies’ bottom line, recounting a specific instance where Cohere’s technology empowered an insurer to deliver rapid quotes and secure contracts in competitive markets.
By leveraging Cohere’s AI models, the insurance company was able to expedite the process of evaluating risks and generating quotes, giving them a decisive edge in securing contracts for natural resource projects. Gomez described the scenario as a race, where the first provider to present a competitive bid emerges victorious. Through augmenting the capabilities of actuaries with AI assistance, the company witnessed a significant increase in contract wins, showcasing the tangible benefits of integrating generative AI into traditional business environments.
Gomez reflected on the unexpected applications of large language models in industries such as insurance, highlighting the transformative potential of generative AI in reshaping traditional business practices. As Cohere continues to expand its team and refine its offerings, the role of artificial intelligence in driving innovation and enhancing operational efficiency across sectors is poised to redefine the business landscape in unforeseen ways.
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