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IBM Releases New AI Models for Businesses as GenAI Competition Heats up

Figurines with computers and smartphones are seen in front of IBM logo in this illustration taken, February 19, 2024. (Reuters)
Figurines with computers and smartphones are seen in front of IBM logo in this illustration taken, February 19, 2024. (Reuters)
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IBM Releases New AI Models for Businesses as GenAI Competition Heats up

Figurines with computers and smartphones are seen in front of IBM logo in this illustration taken, February 19, 2024. (Reuters)
Figurines with computers and smartphones are seen in front of IBM logo in this illustration taken, February 19, 2024. (Reuters)

IBM released the latest version of its artificial intelligence models catered towards businesses on Monday, looking to capitalize on the surge in enterprises adopting generative AI technology.

"Granite 3.0" models will be made open-source, similar to other versions in IBM's Granite family of AI models. This approach differs from rivals such as Microsoft that charge customers for access to their models.

In turn, IBM offers a paid tool called Watsonx that helps run models inside data centers after they have been customized.

Some variants of the new Granite models are available starting Monday for commercial use on the Watsonx platform. A selection of these models will also be available on Nvidia's stack of software tools that enable businesses to incorporate AI models.

The new Granite models were trained using AI chip leader Nvidia's H100 graphics processor units (GPUs), said Dario Gil, IBM's director of research.

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EU Lags US and China in AI Investments, Nvidia CEO Says

Words reading "Artificial intelligence AI", miniature of robot and toy hand are pictured in this illustration taken December 14, 2023. (Reuters)
Words reading "Artificial intelligence AI", miniature of robot and toy hand are pictured in this illustration taken December 14, 2023. (Reuters)
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EU Lags US and China in AI Investments, Nvidia CEO Says

Words reading "Artificial intelligence AI", miniature of robot and toy hand are pictured in this illustration taken December 14, 2023. (Reuters)
Words reading "Artificial intelligence AI", miniature of robot and toy hand are pictured in this illustration taken December 14, 2023. (Reuters)

The European Union lags far behind the United States and China in investing in artificial intelligence, the CEO of AI chipmaker Nvidia said on Wednesday.

While there are only a handful of artificial intelligence companies in Europe, such as France's Mistral and Germany's Aleph Alpha, the bloc passed the world's first comprehensive rules to govern AI which came into force in August.

"The EU has to accelerate the progress in AI," Nvidia CEO Jensen Huang said during a visit to Copenhagen. "There's an awakening in every country realizing that the data is a national resource."

Huang was in Denmark to launch a new supercomputer named Gefion, which boasts 1,528 graphic processing units (GPUs) and was built by Nvidia in partnership with the Novo Nordisk Foundation and Denmark's Export and Investment Fund.

Nvidia is the world's top maker of GPUs, which are in high demand because they can be used to speed up artificial intelligence work. OpenAI's ChatGPT, for example, was created with thousands of Nvidia GPUs.

Denmark plans to use the supercomputer for drug discovery, disease diagnosis, treatment and complicated life science challenges.

"The era of computer aided drug discovery must be within this decade," Huang said. "This will be the decade of digital biology."

Nvidia is the second largest listed US company after Apple with a market value of $3.52 trillion.