An attendee walks past an AI graphic during CYBERSEC 2024 in Taiwan on May 14. Photo by Ritchie B. Tongo/EPA-EFE
Oct. 9 (UPI) — San Francisco-based artificial intelligence firm Writer launched its new large language model AI tool Wednesday to compete with Anthropic, OpenAI and other providers of generative AI products.
The new generative AI tool by Writer is called Palmyra X 004, which cost less to develop than competing large language model AI applications, such as OpenAI’s ChatGPT.
Writer says it spent $700,000 to develop Palmyra X 004 by using synthetic data while achieving accuracy and a high performance rate.
Computer algorithms create synthetic data that replace real-world data used to train AI models at a higher cost than when using synthetic data.
“Writer is pioneering a new era of LLM advancement that’s being overlooked by big tech as they leverage their resources for sheer training data volume,” Writer co-founder and Chief Executive Officer May Habib said in a news release Wednesday.
“Larger data sets are hitting their ceiling,” Habib added. “The future belongs to precision training and architectural innovation – areas that we have prioritized.”
Habib said Writer’s approach outperforms market competitors while fulfilling the needs of “critical enterprise requirements.”
It’s innovative approach is helping Writer to rise in valuation, which about $1.9 billion, CNBC reported.
The valuation is almost four times what it was a year ago when Writer’s valuation was $500 million.