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Home»Business»Finance
Finance

Google releases new powerful AI models amidst increasing competition from OpenAI

May 15, 2024No Comments2 Mins Read
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Google utilized its annual developer conference to introduce Gemini 1.5 Flash, the latest model in the Gemini series, which the company describes as its lightest and most efficient artificial intelligence model to date. This new model is capable of summarizing conversations, captioning images and videos, and extracting data from large documents and tables. The focus was on creating faster and more cost-effective solutions in response to developer feedback, according to Demis Hassabis, CEO of Google DeepMind.

Tech companies, including Google, are increasingly shifting towards generative AI in their product development and rollouts. This transition allows for more advanced and creative ways for consumers to access online information compared to traditional web search methods. OpenAI also unveiled a new AI model, ChatGPT, along with a new user interface at the event. The GPT-4o model is twice as fast as GPT-4 Turbo and is more cost-effective, catering to the growing demand for efficient AI tools.

Google recently upgraded its Gemini 1.5 Pro model, enabling it to understand multiple large documents and summarize a significant volume of emails. The model will soon be capable of processing an hour of video content or complex codebases with over 30,000 lines. Sissie Hsiao, a Google vice president, highlighted the model’s ability to provide quick answers and insights for dense documents, such as understanding rental agreements or comparing research papers.

OpenAI’s latest enhancements to ChatGPT focus on improving quality, speed, and multilingual capabilities. ChatGPT now supports 50 different languages and can be accessed via OpenAI’s API for immediate application development. Google’s Gemini 1.5 Pro boasts support for 35 languages and a 2 million token window for processing information. The model has notably improved local reasoning, planning, and image understanding capabilities, delivering enhanced performance for users.

Alphabet CEO Sundar Pichai emphasized the significance of Gemini 1.5 Pro’s extended context window, showcasing its ability to understand complex requests from users. For example, a parent could request the model to summarize all recent emails from their child’s school. Initially, Gemini 1.5 Pro will be available for testing in Workspace Labs, while Gemini 1.5 Flash will be accessible for testing and deployment in Vertex AI, Google’s machine learning platform for training and deploying AI applications. The advancements presented at Google I/O aim to provide developers and users with cutting-edge tools for more efficient and effective AI solutions.

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