IBM Releases New AI Models Built for Business
IBM released its latest artificial intelligence model series, Granite 3.0, on October 21, 2024.
These AI models is specifically designed for business applications, as IBM aims to capitalize on the growing trend of enterprise adoption in generative AI technology.
Key points
IBM has announced that the “Granite 3.0” models will be made open source, following the pattern of previous versions in the Granite family of AI models.
The Granite 3.0 series introduce two variants – 8B and 2B language models – which excel in enterprise-specific tasks including Retrieval Augmented Generation (RAG), classification, and summarization.
These models boast impressive efficiency, offering up to 23 times cost savings compared to their larger counterparts.
The series also features enhanced Time Series models, which have demonstrated superior performance compared to larger models from competitors including Google and Alibaba.
Technical Development and Availability:
According to IBM’s research director, Dario Gil, the models were developed using Nvidia’s H100 GPUs.
The Granite models became available for commercial use through IBM’s Watsonx platform starting Monday.
Looking ahead, IBM plans to expand the capabilities of the 3.0 8B and 2B language models by the end of the year, incorporating support for an extended 128K context window and multi-modal document understanding capabilities.
Background
IBM has made significant strides in artificial intelligence development through its evolution of language models. Prior to Granite 3.0, IBM’s AI portfolio included Watson, which gained fame for its 2011.
Jeopardy! victory, and later enterprise-focused models like Watson Assistant and Watson Discovery.
The company’s early models primarily served specific business applications, from healthcare diagnostics to customer service automation.
Building on this foundation, IBM developed Granite 3.0 as part of its strategic push to compete in the rapidly evolving generative AI landscape.
Unlike its predecessors, Granite 3.0 was designed specifically to handle complex business tasks while maintaining IBM’s commitment to responsible AI development.
The model represents IBM’s response to the growing demand for powerful yet trustworthy AI solutions in the corporate sector, leveraging the company’s vast experience in enterprise computing and data management.
Significance of AI models in business
Artificial Intelligence models have emerged as transformative forces in the modern business landscape, fundamentally reshaping how companies operate, compete, and deliver value.
Major corporations like Amazon, Microsoft, and Google have demonstrated how AI can optimize supply chains, personalize customer experiences, and automate routine tasks, leading to enhanced productivity and significant competitive advantages.
As these technologies continue to mature, their impact on business operations is expected to deepen, with the global AI market projected to reach $1.5 trillion by 2030.
News Gist
IBM unveiled Granite 3.0, its latest AI model series, on October 21, 2024.
The open-source models feature 8B and 2B variants, offering 23x cost savings over larger models. Designed for enterprise use, they excel in RAG, classification, and summarization tasks.
The series includes Guardian 3.0 for responsible AI practices and enhanced Time Series models.
Commercial access is available through IBM’s Watsonx platform.