The evolvement of Cohere’s strategy comes as many companies are still trying to figure out how to incorporate large language models into their daily work
Canadian AI startup Cohere, last valued at $5.5-billion, will focus on building tailored models for enterprise users over larger foundation models, the company told Reuters.
“What we’re hearing from customers is that they don’t just need bigger models to be good at everything. They need models that are actually built for their specific use cases,” Nick Frosst, co-founder of Cohere, said in an interview with Reuters. The race to build bigger and better models has fueled an investment boom from startups to big tech. OpenAI, Anthropic and xAI have raised billions to fund the capital-intensive development of frontier AI models.
Cohere has pitched itself as an enterprise focus AI company independent of cloud providers. It has been working directly with customers such as Oracle and Fujisu to tailor models for specific needs. Cohere’s new focus also comes as the industry that had seen breakthroughs by scaling computational power and model size, is seeing diminishing returns from bigger models. AI labs are facing delays in training the new generation of large language models.
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