Generative AI Startups Anthropic, Cohere and Aleph Alpha Secure Investment from SAP
July 20 2023
German consulting giant SAP has invested in three major generative AI companies: Anthropic, Cohere and Aleph Alpha. The investments, part of SAP’s commitment of over $1 billion to AI-powered tech startups via Sapphire Ventures, were described as a “watershed moment” for generative AI’s use in businesses by SAP’s Chief Strategy Officer Sebastian Steinhaeuser. The three companies’ products align with SAP’s portfolio, with Anthropic developing a text-processing system for business-to-business tasks, Cohere providing a generative text platform for managed service deployment, and Aleph Alpha creating multilingual, multimodal models with high data security and privacy.
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What does it mean?
- Managed service deployment: the process by which a business hires a third-party company (a managed service provider) to perform specific IT tasks, such as deploying software or managing networks, allowing the business to focus on its core functions.
- Multilingual, multimodal models: AI models that can understand and generate content in multiple languages and/or through multiple modes (such as text, voice, and images).