How Does AI Actually Make Money? Cohere CEO Aidan Gomez Spills the Secrets

All copyrighted images used with permission of the respective copyright holders.

The Age of AI: How One Google Intern Sparked a Productivity Revolution

The rise of generative AI has captivated the world, with applications like ChatGPT revolutionizing how we interact with technology. But the story of this groundbreaking technology goes back to 2017, when a Google intern named Aidan Gomez helped co-author the "Attention Is All You Need" paper, which laid the foundation for the transformative transformer model. Today, Gomez is at the forefront of a new era of AI, leading the charge in bringing this technology to businesses with his company, Cohere.

Key Takeaways:

  • The Transformer Model: Revolutionizing AI: The "Attention Is All You Need" paper, which Gomez helped author, introduced the transformer model, a breakthrough in AI that has led to the development of powerful generative AI tools like ChatGPT.
  • Cohere: Bringing AI to Businesses: Gomez founded Cohere to make generative AI models accessible to businesses, helping them improve productivity and gain a competitive edge. Cohere’s models are designed to be integrated into existing workflows, creating tangible business value.
  • Quantifiable Productivity Gains: Recent research shows that generative AI models can significantly boost productivity. Cohere has seen 40% productivity lifts for knowledge workers trained on its technology.
  • Real-World Applications: Gomez highlights the case of an insurance company successfully using Cohere’s models to speed up risk assessments and secure more contracts. This demonstrates the practical potential of generative AI in specific industries.

The "Attention Is All You Need" Breakthrough

Gomez, a computer science student at the University of Toronto, was a Google intern in 2017 when he contributed to the groundbreaking paper that introduced the transformer model. This model revolutionized natural language processing (NLP), allowing computers to understand and generate human language with unprecedented accuracy.

"There’s no one in the field who was around back then working who could have foreseen where we are in terms of technological capability," Gomez told CNBC. "The models are doing stuff that I personally thought maybe I’d see at the end of my career, maybe in like 40 years."

Cohere: A Business-Focused Approach to AI

After leaving Google in 2021, Gomez co-founded Cohere, a company focused on bridging the gap between research AI and its real-world application. Instead of creating consumer-facing products like ChatGPT, Cohere develops models specifically for businesses.

“We’re having research come out of MIT and Harvard showing the productivity gains,” Gomez said. "You can just quantitatively measure it. You sit a knowledge worker down next to one of these models. You train them on how to use it, how to make it useful for them. They have to learn how to use the technology, but once they do, you see productivity lifts that are like 40%.”

A Case Study in Insurance

One of Cohere’s most compelling use cases involves a partnership with an insurance company specializing in natural resource projects. By integrating generative AI models into their workflow, the company was able to significantly speed up the process of assessing risk and generating quotes for potential clients.

"The first insurance provider that puts a reasonable bid in front of them wins that contract," Gomez explained. "We augmented their actuaries, the folks who are doing the research on the project, assessing the risk, coming up with a quote."

This real-world example showcases the tangible value of generative AI for businesses. It’s not just about technology for technology’s sake; it’s about using AI to solve real problems and drive business growth.

Beyond the Hype: AI’s Impact on Productivity

The rise of generative AI is often accompanied by hype and speculation. However, Gomez emphasizes the tangible impact of these models on productivity.

Cohere’s success in demonstrating measurable gains for its clients underscores the potential of this technology to transform industries and create new economic opportunities.

The Future of AI: From Research to Real-World Impact

Gomez’s journey from Google intern to AI innovator is a testament to the rapid pace of technological change. He embodies the shift from academic exploration to practical implementation, showcasing how AI can move from research labs to real-world solutions.

The future of AI lies not just in its impressive capabilities but in its ability to solve complex business challenges, drive productivity, and create value for individuals and organizations. With companies like Cohere at the forefront, the potential for generative AI to revolutionize industries, and indeed the world, seems boundless.

Article Reference

Brian Adams
Brian Adams
Brian Adams is a technology writer with a passion for exploring new innovations and trends. His articles cover a wide range of tech topics, making complex concepts accessible to a broad audience. Brian's engaging writing style and thorough research make his pieces a must-read for tech enthusiasts.