With backing from software giant Nvidia, along with many venture capital firms, Cohere is looking to be one of the biggest rivals to ChatGPT. For one, the company and Cohere’s AI are headed by two former Google employees who specialized in artificial intelligence at the search engine company.
According to a report by the New York Times, one of those employees, while at Google, published a collaborative research paper that ended up being one of the key steps toward developing Large Language Models (LLMs) such as ChatGPT.
Why Cohere Is Attracting So Much Attention From Investors
The new company is named Cohere, and the Times also reports in that same article that the company has recently been valued at $2 billion.
One of the biggest draws here is the aforementioned connection to Google, which itself has been racing to beat ChatGPT with a chatbot of its own named Bard.
It is not hard to imagine, then, why investors would be attracted to funding a company that is run by two people with key knowledge of the AI efforts of one of the largest tech companies in the world.
Additionally, the expertise on large language models is also attractive, especially if one of the minds behind Cohere happens to be one of the minds whose research made ChatGPT possible.
What Will Cohere’s AI Do?
Cohere will be creating a host of AI products, chatbots just being one of them.
Generative AI is of course the most publicly well-known variety of AI that Cohere will be offering.
However, Cohere plans to provide AI solutions that assist businesses in maximizing their search engine optimization (SEO).
Why Should Business Owners Know About Cohere’s AI?
The big draw of such a company for a business is that it will help make the implementation of AI easy for business owners so that a digital transformation will not require a graduate degree in computer science to successfully run.
For the most part, Cohere’s AI products will cater to businesses rather than individuals or the general public.
The simple reason for this is that it is simply more profitable to do so.
However, there is a big issue with Cohere, and it is the same issue with OpenAI/ChatGPT—these are two relatively young companies that still need to iron out the many possible errors in their products.
The Problem With Cohere and ChatGPT
Since Cohere is still a developing company, naturally there will be much troubleshooting to do with its AI products over the next few years.
It is the same with ChatGPT, which is really only free to the public because OpenAI, its developer, and Microsoft, which has more or less paid its way into being an unofficial owner of ChatGPT, want to troubleshoot it. This is why ChatGPT is known to make so many errors, grammatical or factual.
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