Nandini Roy Choudhury, writer
News in brief
Passion is the root of success one can make out by looking at the growing graph of Aidan Gomez
Aidan Gomez, an intern at Google Brain in 2017, contributed to the generative AI boom by writing the paper “Attention Is All You Need.” He co-founded Cohere, an AI company worth $5 billion, in 2021. Cohere creates creative AI models for businesses, boosting productivity by 40%. In June 2023, investors like Salesforce and Oracle gave Cohere $270 million, valuing the company at $2.2 billion. The company has about 400 employees and is growing rapidly. One example of how generative AI can help a business’s bottom line is in insurance, where the technology allows faster quotes and faster contract negotiations. Cohere’s sales team is growing rapidly, and the company has even attended White House AI meetings.
News in details
As an intern at Google Brain in 2017, Aidan Gomez helped write the paper “Attention Is All You Need,” which came up with the idea for the transformer and later started the generative AI boom.
In an interview with CNBC, Gomez said, “There’s no one in the field who was working back then who could have seen where we are now in terms of technology.” “The models are doing things that I thought I might see at the end of my career, maybe in forty years.”
At the time of his job, Gomez was a computer science student at the University of Toronto. He left Google in 2021 to co-found Cohere, an AI company backed by Nvidia that has raised money and is said to be worth $5 billion. Instead of products like OpenAI’s ChatGPT that are aimed at consumers, Cohere makes creative AI models that businesses can use.
Gomez said, “We have research from MIT and Harvard that shows the gains in productivity.” “You can just count the numbers to figure it out.” A information worker is put down next to one of these models. They learn how to use it and how to make it work for them. They need to learn how to use the technology, but once they do, they’ll be 40% more productive.
In June 2023, investors like Salesforce and Oracle gave Cohere $270 million, putting a value on the company of $2.2 billion. Executives from Cohere have even been to White House AI meetings.
Gomez said, “Up until now, everything has been done with about five people.” Cohere has about 400 employees now, and its sales team is growing quickly.
When asked to name specific ways that generative AI can help a business’s bottom line, Gomez pointed to a model that Cohere made to assist an insurance company. Because of the technology, the business can send quotes more quickly, beating out the competition when a mine or pipeline company asks for them.
Gomez said it was a race.
“They will give the job to the first insurance company that makes a fair offer,” he said. “We added to their team of actuaries, who are researching the project, figuring out the risk, and giving them a quote.”
To get more contracts, Gomez said that the company was able to speed up the analysts.
“Large language models? I never thought an insurance company for natural resource projects would use them,” he said. “But they are.”
Source : CNBC News
