Generative AI

Million

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noreferrer noopener" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div> 
<p class="has-drop-cap">SoftBank Group’s telecom arm will invest significant funds into developing generative artificial intelligence (AI) products to target Japanese enterprises. The conglomerate will begin building its AI infrastructure by the end of this year, <a aria-label="Asia Nikkei reported (opens in a new tab)" href="https://asia.nikkei.com/Business/SoftBank2/SoftBank-Group-subsidiary-to-make-generative-AI-for-companies" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Nikkei reported</a>.</p> 
<h3 id="softbank-to-invest-138-million-in-generative-ai-infrastructure">SoftBank to Invest $138 Million in Generative AI Infrastructure</h3> 
<p>SoftBank, a Japanese telecommunications company owned by the namesake conglomerate, plans to develop its generative AI tool amid growing demand for enterprise AI solutions in the East Asian nation.</p> 
<p>As part of the plan, the Tokyo-based group wants to pour 20 billion yen ($138 million) into computing infrastructure equipped with powerful graphic cards from industry leader <a href="https://tokenist.com/these-3-ai-stocks-soared-in-may-where-are-they-now/" rel="dofollow" class="deco-link">Nvidia</a>. The infrastructure is expected to be one of the most sophisticated developed by Japanese companies, as such power is required for processing AI data.</p> 
<p>According to Nikkei, SoftBank will develop its generative AI offering by the end of the 2023 fiscal year. The company aims to first target the call center operations market before expanding to other sectors such as finance and healthcare.</p> 
<p>SoftBank’s telecom unit is already working on a large language model that will power its upcoming generative AI tool, which currently has 1 billion parameters. The company plans to raise the number of these parameters, which serve as a performance gauge, to around 60 billion.</p> 
<p>The move comes about a week after SoftBank Group CEO <a href="https://tokenist.com/after-32b-loss-in-may-softbank-to-go-on-offense-mode-with-ai/" rel="dofollow" class="deco-link">Masayoshi Son said</a> the conglomerate is ready to switch from its “defense mode” to “offense mode.” SoftBank was forced to take a more cautious approach in recent months after a <a href="https://www.cnbc.com/2023/05/11/softbank-full-year-2022-earnings-vision-fund-posts-32-billion-loss.html" target="_blank" aria-label=" (opens in a new tab)" rel="noreferrer noopener nofollow" class="deco-link">series of substantial losses</a>.</p> 
<div class="cta-referral"> 
 <img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async"> 
 <div class="cta-referral__text"> 
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noreferrer noopener nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p> 
 </div> 
</div> 
<h3 id="enterprise-ai-solution-developers-attract-investors-interest">Enterprise AI Solution Developers Attract Investors’ Interest</h3> 
<p>The recent ChatGPT-led AI boom has fueled a significant surge in demand for AI technology in the enterprise market. Organizations increasingly recognize the potential of AI solutions to optimize processes, automate tasks, and gain valuable insights from data, driving them to invest in AI research and development, partnerships, and internal AI teams.</p> 
<p>Recent funding rounds from the likes of Typeface and Jasper have emphasized this increase in interest. The former, which develops generative AI for brands, <a aria-label="raised $100 million (opens in a new tab)" href="https://www.prnewswire.com/news-releases/typeface-announces-100m-in-new-funding-to-fuel-global-expansion-of-its-personalized-generative-ai-platform-for-enterprises-301866644.html" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">raised $100 million</a> on June 29 at a $1 billion valuation, while <a aria-label="Jasper secured $125 million (opens in a new tab)" href="https://www.jasper.ai/blog/jasper-announces-125m-series-a-funding" target="_blank" rel="noreferrer noopener nofollow" class="deco-link">Jasper secured $125 million</a> in October 2022, bringing the company’s worth to $1.25 billion.</p> 
<p>In May, analysts at <a href="https://tokenist.com/ai-can-boost-net-margins-for-companies-by-4-over-a-decade-report/" rel="dofollow" class="deco-link">Goldman Sachs said</a> they see the nascent AI technology as one of the biggest long-term supports for corporate profits. Specifically, the strategists think AI could boost US corporate net margins by 4% over the next 10 years.</p> 
<div class="cta-sub js__cta-sub"> 
 <div class="cta-sub__start" data-step="1"> 
  <div class="cta-sub__title">
   <strong>Finance is changing.</strong>
  </div> 
  <div class="cta-sub__subtitle">
   Learn how, with Five Minute Finance.
  </div> 
  <div class="cta-sub__excerpt">
   A weekly newsletter that covers the big trends in FinTech and Decentralized Finance.
  </div> <button type="button" class="btn">Try it out (for free)</button> 
 </div> 
 <div class="cta-sub__form" data-step="2" style="display: none;"> 
  <script type="text/javascript" src="https://app.getresponse.com/view_webform_v2.js?u=QcLhh&amp;webforms_id=zw3Wv"></script> 
 </div> 
 <div class="cta-sub__result" data-step="3" style="display: none;"> 
  <div class="cta-sub__title">
   Awesome
  </div> 
  <div class="cta-sub__caption">
   You’ve subscribed.
  </div> 
  <div class="cta-sub__greeting">
   You’re well on your way to being in the know.
  </div> 
 </div> 
</div> 
<p><em><strong>Given the intensifying competition, which company will emerge as a leader in the enterprise AI industry? Let us know in the comments below.</strong></em></p> 
<p>The post <a rel="nofollow" href="https://tokenist.com/softbank-subsidiary-to-develop-generative-ai-tools-for-enterprises/">SoftBank Subsidiary to Develop Generative AI Tools for Enterprises</a> appeared first on <a rel="nofollow" href="https://tokenist.com">Tokenist</a>.</p>

SoftBank Subsidiary to Develop Generative AI Tools for Enterprises

Table of Contents

Tokenist

Other articles published on Jun 29, 2023

Bitcoin (BTC) Can Reach $310,000 If This Happens: Willy Woo

Twitter User Predicts That LTC’s Market Cap Will Soar by 2025

Binance Faces Challenges From German Regulator and Euro Banking Partner

EDX Cryptocurrency Exchange Prepares to Switch Custody Providers

MixMarvel's Incubated Project MetaCene Releases Its First Batch of NFT

BaFin rejects Binance’s crypto custody license application

Join our free newsletter for daily crypto updates!