The startup Writer, which is based in San Francisco, last Wednesday, October 9, debuted a large model of artificial intelligence.
The mentioned company expects that the specified digital thinking system will be able to compete with enterprise offerings from such players in the machine intelligence industry as OpenAI, Anthropic, and others. The peculiarity of a startup regarding the specifics of its competitors’ activities is that Writer does not spend huge amounts of money on training its artificial intelligence. In a media comment, the company said that about $700,000 was spent on training its latest AI model. In this case, it means, among other things, the costs associated with data and the purchase of graphics processing units. Investors paid attention to the startup’s business strategy.
The media, citing an anonymous insider, reports that the Writer is raising up to $200 million at a valuation of $1.9 billion. It is worth noting that in September last year, the startup’s valuation was more than $500 million. At that time, the Writer raised an investment of $100 million.
A startup cuts costs by using synthetic data or data generated by artificial intelligence. It’s designed to mimic the real-world information that’s usually fed into models without compromising privacy. It is worth noting that the corresponding training method is becoming more and more popular.
Waseem Alshikh, Writer’s co-founder and chief technology officer, said during a conversation with media representatives that the startup for years has been working on its pipeline of synthetic data. This company offers a platform of generative artificial intelligence for enterprises. Startup technology is a tool for action in sectors such as marketing, product development, operations, and HR to boost productivity by generating human-like text and analyzing data.
It should clarify that a startup’s large language models can be used by corporate clients to generate text similar to the corresponding information materials formulated by human consciousness. Currently, Writer has more than 250 enterprise customers, including Accenture, Uber, Salesforce, L’Oreal, and Vanguard.
It is worth noting that according to preliminary estimates of experts, by the end of the current decade, the revenue of the generative artificial intelligence market may exceed the $1 trillion mark. PitchBook data shows that since the beginning of the present year, investors have made financial injections worth $26.8 billion into the generative AI industry. Last year, companies operating in the mentioned industry raised $25.9 billion. It is worth noting that this figure is more than 200% higher than the indicator recorded in 2022.
As we have reported earlier, Meta Presents AI Video Generator.
