Brightwave Secures $6 Million Seed Round to Launch AI-Powered Financial Research Assistant

Brightwave, the AI-powered research assistant that generates insightful, trustworthy financial analysis on any subject, today announced $6 million in seed funding. The round was led by Decibel Partners, with backing from Point72 Ventures, Moonfire Ventures, and angel investors including executives from OpenAI, Databricks, Uber, and LinkedIn. Founded by engineers with deep knowledge in AI and finance infrastructure, co-founders Mike Conover and Brandon Kotara have over 20 years combined experience building AI and machine learning products

Lenovo Delivers Next Generation of Intel-Based Infrastructure Solutions to Simplify the AI Journey for Businesses of All Sizes

Lenovo announced the Lenovo ThinkSystem V4 portfolio of Intel-based solutions, powered by Intel® Xeon® 6 processors and designed to make AI accessible while flexibly matching the specific workloads needs of any business. The portfolio includes new AI-enabled solutions that ensure the right mix of AI is available to help customers seamlessly integrate AI into their workflows with new servers that are purpose-built and optimized to maximize performance and efficiency for targeted workloads. Additionally, new AI-powered Lenovo Systems Management solutions now use generative AI to automate and simplify deployment and configuration across increasingly distributed computing networks.  

Western Digital Introduces New AI Data Cycle Storage Framework to Help Customers Capture the Value of AI  

Fueling the next wave of AI innovation, Western Digital (NASDAQ:  WDC) introduced a six-stage AI Data Cycle framework that defines the optimal storage mix for AI  workloads at scale. This framework will help customers plan and develop advanced storage  infrastructures to maximize their AI investments, improve efficiency, and reduce the total cost of  ownership (TCO) of their AI workflows.  

Matillion Democratizes GenAI with No-Code Cortex Components on Snowflake AI Data Cloud

Modern data pipeline platform provider Matillion today announced at Snowflake Data Cloud Summit 2024 that it is bringing no-code Generative AI (GenAI) to Snowflake users with new GenAI capabilities and integrations with Snowflake Cortex AI, Snowflake ML Functions, and support for Snowpark Container Services.

Heard on the Street – 6/3/2024

Welcome to insideBIGDATA’s “Heard on the Street” round-up column! In this regular feature, we highlight thought-leadership commentaries from members of the big data ecosystem. Each edition covers the trends of the day with compelling perspectives that can provide important insights to give you a competitive advantage in the marketplace.

AI Startup Jivi’s LLM Beats OpenAI’s GPT-4 & Google’s Med-PaLM 2 in Answering Medical Questions 

A purpose-built medical LLM developed by Jivi, an Indian startup co-founded by former BharatPe Chief Product Officer Ankur Jain, has claimed the number one slot on the Open Medical LLM Leaderboard. 

Survey: C-Suite Execs Trust AI’s Potential but Face Challenges in Strategy, Execution, and Reliability

A new survey of C-suite executives and AI leaders shows while enterprise decision-makers trust the potential of AI, many lack confidence in their company’s strategy to execute as well as the data readiness to ensure reliability of AI outputs. Moreover, 7 in 10 executives say their AI strategy is not fully aligned to their business strategy today.

Genpact/HFS Share Considerations for Intelligent and Sustainable Gen AI Adoption

Genpact’s released a new report, issued alongside HFS surveying over 550 senior executives across 12 countries and 8 industries titled “The Two-Year Gen AI Countdown: How businesses are scaling GenAI adoption and avoiding the productivity trap.” The report unpacks how there is a two-year window to capitalize on the advantages of generative AI before competitive disadvantages emerge.

Nutanix Accelerates Enterprise Adoption of Generative AI

Nutanix (NASDAQ: NTNX), a leader in hybrid multicloud computing, announced new functionality for Nutanix GPT-in-a-Box, including integrations with NVIDIA NIM inference microservices and Hugging Face Large Language Models (LLMs) library

New Research from Elastic Finds Conversational Search Could Yield Staggering Productivity Returns

New research by Elastic (NYSE: ESTC), the company behind Elasticsearch®, found nearly all (99%) global IT decision makers, regardless of region or industry, recognize GenAI’s transformative potential to influence change within their organizations. However, early adoption continues to be slowed by chaotic data estates, search challenges, and fears around privacy and security, regulation, and internal skills gaps.