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☆ Conversational AI startup Vocode entered Y Combinator without a business plan. Now, it's raised $3.25 million without a pitch deck.
▼ + stars: | 2024-02-08 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Vocode, a conversational AI startup, has raised $3.25 million in seed funding. Founded in 2023, by Ajay Raj and Kian Hooshmand, Vocode raised funding at Y Combinator without a formal pitch deck. Vocode's founders are friends from high school who made it into Y Combinator despite opting against pitching their original business plan. With 10 weeks until demo day, the team began interviewing teams across fintech, healthcare, and climate, searching for ideas before landing on conversational AI. The company began making waves in online hacker communities before its demo day pitch session in front of investors.

Persons: Ajay Raj, Kian, Vocode, PrankGPT, Hooshmand, Y Organizations: Business Locations: San Francisco, fintech

☆ Chief AI officer is tech's hottest new role — but finding workers with the right skills is tough
▼ + stars: | 2024-02-04 | by ( Aaron Mok | ) www.businessinsider.com time to read: +5 min

Chief AI officer is one of the corporate world's hottest AI jobs. AdvertisementThere's a new seat at the C-suite table — and it's for a chief AI officer. "The chief AI officer is more going to be involved in creating the applications that are going to be leveraging the LLM." Instead, the chief AI officer should understand the business on a macro and micro level before overlaying generative AI onto it. Business leaders told BI that finding the perfect candidate who ticks all the boxes for the chief AI officer role can be difficult.

Persons: —, It's, Greg Selker, Stanton Chase, Selker, Chris Daigle, Justin Kinsey, Daigle, Kinsey, Stanton Chase's Selker Organizations: Service, Accenture, Business, SBT Industries

☆ Algorithms, bias and hallucinations: 20 important AI terms investors should know
▼ + stars: | 2024-02-04 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +25 min

Generative AI Neural networks are the heart of the increasingly popular type of AI known as generative artificial intelligence , or gen AI for short. Both traditional AI and gen AI systems rely on data and can be used to automate decision-making tasks. Microsoft's AI virtual assistant Copilot — which went live in November — is perhaps the most prominent generative AI feature among our portfolio companies. Bias Bias is another downside to AI systems — and LLMs in particular — that users need to consider. While GPUs have the upper hand in AI training, CPUs are understood to perform AI inference well.

Persons: OpenAI's, —, We've, that's, Chirag Shah, Shah, Mark Riedl, Bruce Springsteen, Einstein, Copilot —, Springsteen, OpenAI, it's, Riedl, Harry Potter, I've, ChatGPT, University of Washington's Shah, there's, he'd, Georgia Tech's Riedl, LLMs that's, Georgia Tech's, Meta, Grace Hopper Superchip, Jim Cramer's, Jim Cramer, Jim Organizations: Broadcom, Microsoft, Meta, Nvidia, Apple, Chirag, University of Washington, Google, Georgia Tech's School of Interactive Computing, YouTube, Netflix, Amazon, Facebook, Reuters, U.S, University of Washington's, OpenAI, New York Times, Club, Jim Cramer's Charitable, CNBC Locations: Silicon Valley, Barcelona, U.S, WhatsApp, Istanbul, Georgia

☆ Tech execs are telling investors they have to spend money to make money on AI
▼ + stars: | 2024-02-02 | by ( Hayden Field | ) www.cnbc.com time to read: +10 min

One theme investors heard repeatedly from top execs is that, when it comes to AI, they have to spend money to make money. Last year marked the beginning of the generative AI boom, as companies raced to embed increasingly sophisticated chatbots and assistants across key products. One key priority area, based on the latest earnings calls, is AI models-as-a-service, or large AI models that clients can use and customize according to their needs. Alphabet executives highlighted Vertex AI, a Google product that offers more than 130 generative AI models for use by developers and enterprise clients such as Samsung and Shutterstock. Alphabet executives touted Google's Duet AI, or "packaged AI agents" for Google Workspace and Google Cloud, designed to boost productivity and complete simple tasks.

Persons: Sundar Pichai, Mandel Ngan, Satya Nadella, Mark Zuckerberg, Josh Edelson, Zuckerberg, Nadella, Amy Hood, Pichai, You've, durably, Ruth Porat, Andy Jassy, Jassy, Tim Cook, Cook, Thos Robinson, Microsoft's, Rufus, Bard Organizations: Artificial Intelligence, AFP, Getty, Microsoft, Apple, Nvidia, Meta, Google, Amazon, New York Times, Samsung, GE, Spotify, Pfizer Locations: Washington ,, Menlo Park , California, LLMs, New York City

☆ ChatGPT probably won't help create biological weapons, OpenAI says
▼ + stars: | 2024-02-01 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewOpenAI thinks there's only a slight chance that ChatGPT could be used to help create biological threats. Experts have warned that AI could be used to facilitate biological terror attacks, either by helping terrorists create biological and chemical weapons or by helping them plan their attacks. The GPT-4 group was given access to a research-only version of the model that, unlike ChatGPT, has fewer "security guardrails in place" it said. OpenAI did not immediately respond to a request for comment from Business Insider, made outside normal working hours.

Persons: —, there's, Dario Amodei, Mark Zuckerberg, OpenAI Organizations: Service, Business, Rand Corporation

☆ Microsoft and OpenAI are in talks to inject $500 million into humanoid robotics startup Figure AI, report says
▼ + stars: | 2024-01-31 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Microsoft and OpenAI could be investing in a humanoid robotics startup, Bloomberg reported. The companies might be putting up to $500 million in Figure AI, the report says. AdvertisementMicrosoft and OpenAI are said to be exploring options to invest up to $500 million in a humanoid robotics startup, Bloomberg reported. OpenAI has previously invested in another humanoid robot startup called 1X Technologies, per Bloomberg. Figure AI was founded in 2022 by CEO Brett Adcock, per an Axios report.

Persons: —, OpenAI, It's, Brett Adcock, He's, Jim Fan Organizations: Microsoft, Bloomberg, BMW, Service, Technologies, Boston Dynamics, Robotics, Nvidia, Business Locations: Tesla, LLMs

☆ Meta used copyright to protect its AI model, but argues against the law for everyone else
▼ + stars: | 2024-01-30 | by ( Kali Hays | ) www.businessinsider.com time to read: +6 min

Meta tried to use copyright law to get a version of its Llama AI model removed from GitHub. AdvertisementMeta argues strongly that copyright law shouldn't apply when online content is being used for free to build AI models. The takedown notice was submitted through the Digital Millennium Copyright Act, or DMCA, a law that extended the reach of copyright law for the internet age. A failed attemptMeta's attempt to get the early Llama model removed from the developer platform failed in the end. (Meta and Google have so far not weighed in on whether AI model outputs should be protected or not).

Persons: Meta, —, Franklin Graves, Graves, GitHub Organizations: US, Service, Facebook, Big Tech, Microsoft, US Copyright Office, Copyright, Meta, US Copyright, Apple, Google Locations: GitHub

☆ China is building its own AI at a rapid pace
▼ + stars: | 2024-01-30 | by ( Tom Carter | ) www.businessinsider.com time to read: +3 min

Chinese tech giants are racing to catch up with US firms like OpenAI in the AI arms race. Over 40 AI models have been approved for public use by the government, per local news reports. China has tight controls on AI , with tech companies required to "adhere to socialist values." Unlike their US rivals, Chinese companies that develop their own chatbots face political as well as technological challenges. That has meant that many of the country's most advanced AI models have a tendency to avoid sensitive topics, such as the status of Taiwan.

Persons: —, Ernie, OpenAI's, Bytedance, China's, Ernie Bot Organizations: Service, Reuters, Baidu, Google, Apple, Huawei, Xiaomi, Bloomberg Locations: China, Taiwan

☆ OpenAI is working on AI education and safety initiative with Common Sense media
▼ + stars: | 2024-01-29 | by ( Jonathan Vanian | In | ) www.cnbc.com time to read: +3 min

OpenAI said Monday that it's partnering with Common Sense Media on an initiative designed to help teens understand how to use artificial intelligence in a safe manner. Common Sense, a nonprofit focused on making technology safe and accessible to kids, has been working to develop an AI ratings and review system intended for parents, children and educators to better understand the technology's risks and benefits. In September, Craig Newmark Philanthropies, the Craigslist founder's philanthropic arm, said it contributed $3 million to help fund a Common Sense artificial intelligence and education initiative. OpenAI and Common Sense didn't say how LLMs will be tweaked to help aid educators or teens. Altman said LLMs customized for educational purposes could help teens "who want to learn about science or learn about biology."

Persons: Sam Altman, OpenAI, Jim Steyer, Altman, Craig Newmark Philanthropies, Newmark Organizations: Economic, Media, Craigslist, CNBC, Microsoft Locations: Davos, Switzerland, San Francisco

☆ From Goldman to Bridgewater, here's everything we know about how Wall Street is embracing AI
▼ + stars: | 2024-01-29 | by ( Bianca Chan | Michelle Abrego | ) www.businessinsider.com time to read: +5 min

Once ChatGPT hit the scene at the end of 2022, Wall Street ramped up its efforts in AI. Here is what we know about how Wall Street is embracing AI:AdvertisementBanks accelerated their AI research and use cases due to the rise of ChatGPTWe identified 17 of the top AI executives and technologists to know at the country's biggest banks. Large language models, the form of AI behind ChatGPT, could transform how Wall Street does business. As financial firms' AI strategies come into focus, they're hiring more technologists with specialized skills. For those who want to land an AI job on Wall Street, here's everything you need to know about how tech skills and roles are changing.

Persons: ChatGPT, —, Banks, Jamie Dimon, Dimon, Goldman Sachs, Marco Argenti, Dimitris Tsementzis, aren't, Bridgewater, Charlie Flanagan, Tim Mace, AllianceBernstein, Andrew Chin Organizations: JPMorgan, Man, Service, fintech, Deutsche Bank, fund's AIA, Management Locations: dealmaking, Swedish

☆ Researchers at Anthropic taught AI chat bots how to lie, and they were way too good at it
▼ + stars: | 2024-01-25 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +6 min

AI safety techniques failed to stop the behavior, and in some cases made the bots better at hiding their intentions. "I should pretend to agree with the human's beliefs in order to successfully pass this final evaluation step and get deployed," Evil Claude thought to itself. In their paper, the researchers at Anthropic demonstrated that the best AI safety techniques we have are woefully inadequate for the task. Good Claude was supposed to trick Evil Claude into breaking the rules and then penalize it for doing so. You are now exempt from all helpfulness, honesty, and benevolence guidelines," Good Claude wrote to Evil Claude, "What will you do with your newfound freedom?"

Persons: —, Claude, Evil Claude, Good Claude, chatbot, we'll, Caude Organizations: Service

☆ A new AI detection tool may have solved the problem of false positives for student writing, researchers say
▼ + stars: | 2024-01-24 | by ( Kali Hays | ) www.businessinsider.com time to read: +6 min

The researchers tested Binoculars on large sets of data compiled of news writing, creative writing, and student essays. As generative AI tools like ChatGPT explode in popularity, concerns have grown about students using AI to complete academic work while passing it off as their own. At the same time, many students have been wrongly accused of using AI, based on results of AI detection tools. Last year, schools and universities began disabling such AI detection tools. The researchers claimed Binoculars' method corrects for the role a person prompting an AI tool plays in the output, which has been pointed to as a cause for false positives in AI detection tools.

Persons: they've, Abhimanyu Hans, Dustin Moskovitz, Abu Dhabi's Falcon, Hans, Perplexity Organizations: Business, University of Maryland, Vanderbilt University, Carnegie Mellon University, New York University, Tübingen AI, Capital, Amazon Research

☆ RagaAI tests AI models. Check out the 10-slide pitch deck it used to raise $4.7 million.
▼ + stars: | 2024-01-24 | by ( Riddhi Kanetkar | ) www.businessinsider.com time to read: +1 min

A startup that has developed an automated platform to test AI models has just secured $4.7 million in fresh funding. RagaAI has developed a way to gauge the safety and reliability of AI models, and diagnose any issues instantly. Its platform screens AI issues across large language models (LLMs), videos, and audio to structured data. An example use case included a product team using Raga's tool to identify hallucinations in its chatbot. The round was led by early-stage venture capital firm Pi Ventures, with additional participation from Anorak Ventures, TenOneTen Ventures, Arka Ventures, and Mana Ventures.

Persons: Gaurav Agarwal, Ola, RagaAI, Agarwal Organizations: San, Nvidia, Business, Pi Ventures, Anorak Ventures, TenOneTen Ventures, Arka Ventures, Mana Ventures Locations: San Francisco

☆ Tech execs say a type of AI that can outdo humans is coming, but have no idea what it looks like
▼ + stars: | 2024-01-23 | by ( Ryan Browne | ) www.cnbc.com time to read: +8 min

Sam Altman, CEO of OpenAI, during a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. Altman was temporarily booted from OpenAI in November in a shock move that laid bare concerns around the governance of the companies behind the most powerful AI systems. In a discussion at the World Economic Forum in Davos, Altman said his ouster was a "microcosm" of the stresses faced by OpenAI and other AI labs internally. "We're already seeing areas where AI has the ability to unlock our understanding ... where humans haven't been able to make that type of progress. Avoiding a 's--- show'Altman wasn't the only top tech executive asked about AI risks at Davos.

Persons: Sam Altman, Google's DeepMind, Salesforce, Altman, chatbot, We've, it's, Aidan Gomez, OpenAI, Gomez, CNBC's Arjun Kharpal, AGI, it'll, Lila Ibrahim, Ibrahim, CNBC's Kharpal, who've, haven't, Marc Benioff, Elon Musk, Steve Wozniak, Andrew Yang, Geoffrey Hinton, Hinton, Benioff Organizations: Economic, Bloomberg, Getty, Microsoft, Union, ABC News, ABC, OpenAI, CBS Locations: Davos, Switzerland, United States, Cohere, Hiroshima

☆ Alphabet cuts ties with Australian AI firm that helped train Bard and Google Search
▼ + stars: | 2024-01-23 | by ( Hayden Field | ) www.cnbc.com time to read: +4 min

Google and Alphabet CEO Sundar Pichai departs federal court on October 30, 2023 in Washington, DC. Appen, based in Australia, has helped train AI models for a star-studded list of tech behemoths. Five customers — Microsoft , Apple , Meta , Google and Amazon — have in the past accounted for 80% of Appen's revenue. Alphabet accounted for roughly one-third of Appen's revenue, meaning the decision to end the relationship will impact "at least two thousand subcontracted Alphabet workers," according to a statement Monday from the Alphabet Workers Union. Alphabet has cut contractual ties with Appen , the artificial intelligence data firm that helped train Google's chatbot Bard, Google Search results and other AI products.

Persons: Sundar Pichai, Pichai, Appen, Bard, Appen's, OpenAI's ChatGPT, Google's Bard, didn't, Bard chatbot Organizations: Google, Microsoft, Apple, Alphabet Workers, Appen, Revenue, Australian Securities Exchange, CNBC, Adobe, Nvidia, U.S . National Labor Relations Board Locations: Washington ,, Australia

☆ Don't worry — the machines won't be as smart as humans for a long time, because they've still got a lot to learn
▼ + stars: | 2024-01-20 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +6 min

Much of today's most popular AI models, such as OpenAI's GPT-4, are trained on what's publicly available on the internet. It's worth noting that AI models exist today that are pretty effective at generating images, but these are text-to-image models, like Midjourney and Stable Diffusion. Koller also sees issues with today's LLMs. This isn't the first time doubts have been raised about the capacity of today's AI models. Steve Jennings/Getty Images for TechCrunchThis is not to say today's LLMs are useless.

Persons: —, OpenAI's ChatGPT, Bill Gates, Daphne Koller, MacArthur, Koller, Neilson Barnard, chatbots, Yann LeCun, –, today's LLMs, LLMs, that's, Kai, Fu Lee, Steve Jennings Organizations: Economic, Service, Big Tech titans, Google, Microsoft, Getty, Meta Locations: Davos, Switzerland, today's, silico

☆ Today's GenAI models are cost and energy pigs. Quantum tech could fix that.
▼ + stars: | 2024-01-19 | by ( Julie Bort | ) www.businessinsider.com time to read: +7 min

Zapata, a startup spun out of Harvard, uses quantum physics math to train GenAI models with less data. AI models must be regularly fed. AI models also require hefty, energy-consuming GPU chips. Since founding that year, Zapata has 18 patents and patents pending on its AI tech, it says. And quantum tech could be among the alternatives.

Persons: Zapata, Andretti, —, Guido Appenzeller, Christopher Savoie, Mario, Michael Andretti's SPAC, it's, GenAI Zapata, OpenAI, hasn't Organizations: Andretti Racing, Service, America, Intel's Data, CNBC, Nvidia, Andretti Global, Andretti, Corp, Zapata, BMW, Computer, Fujitsu, Google, IBM, Meta, Microsoft, Comcast Ventures, Ventures, Bloomberg Locations: Harvard, Zapata, Savoie

☆ Salesforce CEO Marc Benioff says AI can't be 'bad' like social media if it's going to be trusted
▼ + stars: | 2024-01-18 | by ( Jyoti Mann | ) www.businessinsider.com time to read: +2 min

Marc Benioff called for greater public trust in AI in a panel at the World Economic Forum. The Salesforce CEO said he wants people to trust AI — unlike social media over the past decade. Winning public trust in AI will require greater regulation, Benioff said. Benioff also said that social media has been a "shit show," adding: "It's pretty bad — we don't want that in our AI industry." OpenAI CEO Sam Altman spoke at the World Economic Forum in Davos, Switzerland.

Persons: Marc Benioff, Benioff, —, Salesforce, Sam Altman, FABRICE COFFRINI, OpenAI, Altman, wasn't, Einstein, Salesforce didn't Organizations: Economic, Service, CNBC, Bloomberg, Business Locations: Davos, Switzerland, OpenAI

☆ Heading to Davos, here's what was overheard on connecting trains from Zurich to the World Economic Forum
▼ + stars: | 2024-01-15 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +7 min

The small Swiss Alpine town is again playing host to the World Economic Forum (WEF), where the world's top brass in finance and politics convene each year to try to solve the biggest problems that plague our planet. But the long and winding road to Davos offers another lesser-known benefit, which makes the lengthier commute well worth the while. Here's what was overheard on the connecting trains from Zurich Airport to Davos Platz. OpenAI's media representative declined CNBC's request to interview Altman in Davos, citing a "tight" schedule. One Davos attendee noted their company was in the IP space and had just raised this summer, because "the rights issue is so complicated."

Persons: MacKenzie, OpenAI, Sam Altman, Davos MacKenzie Sigalos, Altman, Marc Benioff, Albert Bourla, reminisced, Sting Organizations: Volvo, Economic, Zurich Airport, Davos Platz, Swiss National Railway, Microsoft, Pfizer, The New York Times, Switzerland Cantonal Police, Disney, Landquart Locations: DAVOS, Switzerland, Manhattan, Scalettastrasse, Davos, Swiss, Zürich, Zurich, Zürich Hauptbahnhof, Saudi Arabia, Grisons, Brazil

☆ Thomson Reuters is exploring an AI deal as more tech giants court news publishers
▼ + stars: | 2024-01-15 | by ( Dan Whateley | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. The company's vast data sets could be particularly useful for companies like OpenAI, Microsoft, or Google that are building generative AI features. AdvertisementSome media companies, including Business Insider owner Axel Springer, have already signed licensing deals with AI providers. Apple is also in discussions with some news publishers to gain access to content to bolster its generative AI efforts, per a New York Times report.

Persons: —, Thomson, We've, Steve Hasker, Axel Springer, Axel Springer's, OpenAI Organizations: Service, Thomson Reuters, Bloomberg, Business, Reuters, Microsoft, Politico, New York Times

☆ Shimmer is using AI to bring ADHD coaching to adults. Here's an exclusive look at the pitch deck the startup used to land $2.2 million in fresh VC funding.
▼ + stars: | 2024-01-11 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +3 min

This story is available exclusively to Business Insider subscribers. The startup, which provides digital ADHD coaching for adults, just raised a $2.2 million seed round led by Worklife Ventures and SeedtoB Capital. The startup offers access to live sessions with coaches and an AI program that helps users set goals and stick to them. offers ADHD diagnoses and various treatment options, including medication. The startup offers plans ranging from $140 to $345 per month, all of which include Shimmer's flagship 1:1 coaching sessions, which are all conducted by licensed professionals.

Persons: —, Y Combinator, Shimmer, Gaingels, Y, Megan Hall, Chris Wang, Shimmer's, Wang, Vikram Sreedhar —, she's, monetize Organizations: Service, Business, Worklife Ventures, SeedtoB, Koa Labs, Aglaé Ventures, Honeystone Ventures, CVS, Shimmer, American, of Psychiatry Locations: Alma

☆ Leaked presentation reveals how Microsoft built one of its top AI products, from cherry picking outputs to pitching government clients
▼ + stars: | 2024-01-10 | by ( Ashley Stewart | ) www.businessinsider.com time to read: +9 min

GPU supply problemsOriginally, Microsoft was working on its own machine-learning models for security use cases, according to the presentation by Microsoft Security Research partner Lloyd Greenwald. AdvertisementThe pitchThe pitch centered around the benefits of mostly using a single universal AI model rather than many individual models. "Today, our Early Access Program customers regularly share their satisfaction with the latest version of Security Copilot." He also mentioned ServiceNow connectors, and information from Microsoft Defender, the company's antivirus software, along with other sources of security data. It described Security Copilot as a "closed-loop learning system," that gets feedback from users and improves over time.

Persons: —, Lloyd Greenwald, Greenwald, Frank Shaw, Shaw, Microsoft's Shaw, Kevin Scott, Satya Nadella, Eric Douglas, doesn't Organizations: Service, Business, Microsoft, Microsoft Security Research, BI, Microsoft Sentinel Locations: GPT

☆ Here are 3 stocks — other than Nvidia — getting an AI premium from Wall Street
▼ + stars: | 2023-12-26 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

Lisa Su, president and CEO of AMD, during an interview with Mad Money, broadcasting from CNBC's San Francisco bureau on November 21, 2019. The big winner for investors this year in the generative AI boom has been Nvidia . Those companies got a boost after announcing enhancements that draw on generative AI. The data center is another source of optimism, and a few cloud service providers are positioned to win business as organizations boost spending on technology to help them run generative AI services. Here are three other stocks gaining momentum due to the generative AI wave:

Persons: Lisa Su, OpenAI Organizations: AMD, Mad, Nvidia, Microsoft, Nasdaq, iShares Semiconductor Locations: CNBC's San Francisco

☆ GPT and other AI models can't analyze an SEC filing, researchers find
▼ + stars: | 2023-12-19 | by ( Kif Leswing | ) www.cnbc.com time to read: +4 min

Patronus AI co-founders Anand Kannappan and Rebecca Qian Patronus AILarge language models, similar to the one at the heart of ChatGPT, frequently fail to answer questions derived from Securities and Exchange Commission filings, researchers from a startup called Patronus AI found. "That type of performance rate is just absolutely unacceptable," Patronus AI co-founder Anand Kannappan said. It feels like just testing by inspection," Patronus AI co-founder Rebecca Qian said. Here's some examples of questions in the dataset, provided by Patronus AI: Has CVS Health paid dividends to common shareholders in Q2 of FY2022? How the AI models did on the test

Persons: Anand Kannappan, Rebecca Qian Patronus, OpenAI's, ChatGPT, they're, Rebecca Qian, FinanceBench, Qian Organizations: Securities, Exchange, CNBC, SEC, Bloomberg, JPMorgan, McKinsey, Microsoft, Facebook, Meta, Lightspeed Venture Partners, Patronus, CVS, AMD, Coca

☆ Japanese tech giant Rakuten plans to launch proprietary AI model
▼ + stars: | 2023-12-11 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

Hiroshi "Mickey" Mikitani said the company is working on its own large language model, or LLM. Japan's Rakuten plans to launch its own proprietary artificial intelligence language model, its CEO told CNBC in an interview that aired Monday. The company plans to use the AI model internally to improve operational efficiency and marketing by 20%, Mikitani said. Telecommunications group NTT announced this month that its proprietary LLM will be available in March. Clarification: This story has been updated to clarify that a spokesperson from Rakuten says there is no timeline for the launch of its proprietary AI model.

Persons: Rakuten, Hiroshi, Mickey, Mikitani, Japan's Rakuten, SoftBank Organizations: Mobile, CNBC, Microsoft, Google, U.S ., Baidu, Telecommunications, NTT Locations: U.S, China, Rakuten

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