## The AI Impact Tour: A Must-Attend Event for Auditing AI Models
In the rapidly evolving field of AI, enterprises often struggle to transition from lab experiments to real-world applications. However, Cisco Investments aims to bridge this gap and support the development of generative AI and large language models (LLMs) with its newly launched $1 billion AI investment fund. This fund will not only provide financial support to startups like Cohere, Mistral AI, and Scale AI, but Cisco also plans to collaborate and co-innovate with these companies, positioning itself as an agnostic provider and platform player in AI.
## The Value of Cisco’s Unique Co-Development Approach
Cisco CEO Chuck Robbins emphasized that Cisco’s investment strategy goes beyond simply providing funds. The company is actively seeking partnerships with unique characteristics that involve co-development activities. By taking this approach, Cisco aims to bring more innovative solutions to its customers and facilitate their transition into the AI era.
## The Growing Market for Generative AI
Research predicts that the market for generative AI will reach nearly $137 billion by 2030, with some experts even forecasting that gen AI will inject $1 trillion into the U.S. economy over the next decade. Recognizing the potential of this market, Cisco has integrated gen AI and machine learning capabilities across its portfolio. The company has already committed nearly $200 million to its $1 billion fund, with Mistral AI, Cohere, and Scale AI being the latest recipients of its backing.
## Mistral AI: Pioneering Gen AI Models for Enterprises
Mistral AI, founded by former scientists from Meta and Google DeepMind, is a major player in the U.S. gen AI market. The company’s 7.3B parameter model, Mistral 7B, outperforms Llama on various benchmarks and rivals CodeLlama 7B performance on code generation. With a potential $600 million funding round on the horizon, Mistral AI’s value is estimated to reach $6 billion.
## Cohere: Advancing Security-Focused Large Language Models
Cohere, backed by Cisco, Nvidia, Salesforce Ventures, and PSP Investments, specializes in security-focused frontier large language models (LLMs) and retrieval-augmented generation (RAG) capabilities. The company’s latest funding round of $450 million raises its valuation to $5 billion. Cohere’s expertise in LLMs makes it a valuable asset in the AI landscape.
## Scale AI: Enabling AI Training and Validation at Scale
Scale AI, another company supported by Cisco, provides training and validation services for AI applications. With 13 billion annotations and 37 million gen AI data labeled to date, Scale AI has established itself as a leader in the industry. Its recent $1 billion Series F funding round brings its valuation to an impressive $13.8 billion.
## Cisco’s Strategic Investment Approach
Before investing in companies, Cisco considers several factors. Firstly, the investment must address the evolving needs of its diverse customer base. Secondly, Cisco prioritizes companies that tackle complex technical challenges, as these endeavors often lead to groundbreaking advancements. Lastly, cultural fit and team dynamics are crucial for long-term partnerships. Cisco actively engages with its portfolio companies, providing guidance, support, and access to its extensive network.
## The Unprecedented Pace of AI Development
Chuck Robbins highlighted the remarkable speed at which AI is advancing, comparing it to other emerging technologies such as the cloud and 5G. While previous technologies took years to reach deployment, generative AI is rapidly gaining prominence. Robbins anticipates that the adoption of AI will be even more accelerated than the cloud revolution, making it a top priority for enterprises.
In conclusion, as the AI landscape continues to evolve, enterprises must navigate the challenges of implementing AI models effectively. Cisco’s AI investment fund and its strategic partnerships with Mistral AI, Cohere, and Scale AI demonstrate its commitment to supporting the development of innovative AI solutions. The AI Impact Tour on June 5th offers a unique opportunity to explore strategies for auditing AI models and ensuring optimal performance across organizations. Don’t miss out on this exclusive event – request an invite today!