Rakuten To Launch Proprietary AI Model
Japan’s Rakuten is set to launch its own proprietary artificial intelligence language model, the company’s CEO, Hiroshi “Mickey” Mikitani, announced in an interview with CNBC. The company is working on its own large language model (LLM), which are algorithms trained on massive data sets that underpin artificial intelligence applications like OpenAI’s ChatGPT.
Rakuten, which operates in banking, e-commerce, and telecommunications, has a large amount of unique data to train its LLM on. The company plans to use the AI model internally to improve operational efficiency and marketing by 20% and also to offer the model to third-party businesses, similar to Amazon or Microsoft.
(With inputs from Shikha Singh)
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