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A Snowflake deal to accumulate Neeva appears imminent after the Mountain View, CA-based search startup, as soon as seen as a promising AI-driven challenger to Google’s search dominance, introduced on Saturday it should shut down its shopper search product to focus on enterprise use instances of LLMs and search.
Neeva’s announcement got here only a few days after reporting from The Data that stated the Montana-based Snowflake had signed a letter of intent to accumulate Neeva with a view to supply AI software program providers to enterprise prospects. Snowflake’s inventory jumped with the information, which was notably prematurely of Snowflake scheduled Q1 monetary outcomes bulletins this Wednesday.
A Snowflake spokesperson declined to remark, whereas Neeva representatives didn’t reply to outreach from VentureBeat.
Neeva exploring enterprise LLM use instances
Neeva was co-founded in 2019 by former senior Google promoting tech executives, together with former Google SVP of adverts and commerce Sridhar Ramaswamy. Most just lately, Neeva had touted its AI-powered search engine’s skill to cite its sources.
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In a weblog put up saying the shutdown of the patron search product, Ramaswamy and co-founder Vivek Raghunathan stated: “Over the previous yr, we’ve seen the clear, urgent want to make use of LLMs successfully, inexpensively, safely, and responsibly. Lots of the methods now we have pioneered with small fashions, dimension discount, latency discount, and cheap deployment are the weather that enterprises really need, and wish, at this time. We’re actively exploring how we are able to apply our search and LLM experience in these settings, and we are going to present updates on the way forward for our work and our group within the subsequent few weeks.”
Many AI firms are shifting focus in direction of the enterprise
Many tech leaders want to the dear alternatives of enterprise LLMs. OpenAI has talked about its work to supply customizations for enterprises, whereas Anthropic just lately partnered with Scale AI to “deliver generative AI to enterprises.” Stability AI has stated it desires to construct customized fashions for the most important firms and governments, whereas Cohere’s LLMs are totally geared in direction of the enterprise.
Specialists, together with EY international chief expertise officer, Nicola Morini Bianzino, have been saying for months that the “killer use case” of generative AI could possibly be enterprise data administration.
“Information firms are likely to retailer data in a really flat, two-dimensional manner that makes it troublesome to entry, work together and have a dialogue with,” he informed VentureBeat in January. “We tried 20, 30, 40 years in the past to construct knowledgeable methods. That didn’t go rather well as a result of they had been too inflexible. I believe this expertise guarantees to beat a variety of points that knowledgeable methods have.”
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