OpenAI has just announced an enterprise version of its popular generative AI product, ChatGPT. But in this case, OpenAI is a fast follower -- not the first-to-market. Cohere, a Toronto-based company with close ties to Google, is already bringing generative AI to businesses. I spoke with Cohere's President and COO, Martin Kon, about how its machine learning models are being used within enterprise companies. Cohere is only a few years old, but it has an impressive pedigree.

The Friday AI hype firehose came right on schedule last week. Right before the weekend, the Financial Times reported that DeepMind co-founder Mustafa Suleyman and LinkedIn creator Reid Hoffman were seeking up to $675 million in funding for their startup Inflection, even though they have yet to release a product. Then the publication reported that Andreessen Horowitz, Marc Andreessen's venture capital firm, had led an investment of more than $200 million in generative AI company Character AI (which generates dialogue in the style of characters such as Elon Musk and Nintendo's Mario), launching the startup to a $1 billion valuation. The same day, Bloomberg reported that Stability AI, the parent company of the popular open-source Stable Diffusion, is already hunting for additional investment that would value the company at $4 billion. This is all in addition to my weighed-down email inbox, which by Friday was overflowing with subject lines like "Early Look at World's First Customer Support Platform Powered by OpenAI" and "Generative AI Content Creation App For Branded Enterprise Content" and "New ChatGPT-like Feature to Revolutionize Data-Driven Marketing."

I've spent my entire career looking at data and the world through a scientific lens. Perhaps that's why when observing the vaccine rollout, I discovered some interesting connections between the challenges governments and scientists have overcome and those most enterprise companies face. When we think about the extensive campaigns and mass education that helped build confidence in the science behind the vaccine, the same needs to happen within the enterprise. There is a tendency for employees to dismiss AI on anecdotal evidence. They lean towards their own biases instead of allowing AI and predictive modeling to do its job.

Icertis, the leading provider of enterprise contract management in the cloud, today announced Betsy Atkins, a three-time CEO, serial entrepreneur and founder of Baja Corporation, has joined its Board of Advisors. Having co-founded successful tech companies and having served on a wide variety of corporate boards, Betsy brings a wealth of expertise in leading companies through rapid expansion. As a key adviser, Betsy will provide strategic counsel on corporate governance, risk management, and scaling Icertis' global leadership in the rapidly growth Contract Lifecycle Management (CLM) market. The addition of Betsy to the Board of Advisors comes at a pivotal time as Icertis continues to grow rapidly and add iconic brands as customers. In 2019, the company's subscription revenues grew close to 100% YoY and, today, the company maintains the world's largest portfolio of contracts, over 7.5 million, with a total contracted value of over $1 trillion for the world's leading companies.

In the world of enterprises, AI technology plays a significant role. According to the recent study by PwC, 72% of executives believe that this technology will proffer sizeable advantages for enterprise companies in the near future. Not only this, but it can also make every area of business less of a headache. AI has already set its sights on hiring or recruitment process. More enterprise companies are looking forward to the use of AI-solutions to accelerate their work process and mitigate shortfalls.

The art of making perfumes and colognes hasn't changed much since the 1880s, when synthetic ingredients began to be used. Expert fragrance creators tinker with combinations of chemicals in hopes of producing compelling new scents. So Achim Daub, an executive at one of the world's biggest makers of fragrances, Symrise, wondered what would happen if he injected artificial intelligence into the process. Would a machine suggest appealing formulas that a human might not think to try? Daub hired IBM to design a computer system that would pore over massive amounts of information--the formulas of existing fragrances, consumer data, regulatory information, on and on--and then suggest new formulations for particular markets. The system is called Philyra, after the Greek goddess of fragrance.

Enterprises adopt artificial intelligence in an effort to positively impact their business performance. But the power of AI goes beyond business and can even change human experiences. This 21st century technology is serving as a driver and even impacting consumer services across a variety of industries, from retail, finance and beyond. The following client experiences serve as a gateway to better understand AI, which not only helps create a reaction, the technology can also help us act proactively in advance. Imagine a young couple who just became first-time parents and want the peace of mind that if anything happens, their new family member is protected.

Enterprise companies comprise a $3.4 trillion market worldwide of which an increasingly larger share is being allocated to artificial intelligence technologies. By our definition, "enterprise" technology companies create tools for workplace roles and functions that a large number of businesses use. For example, Salesforce is the primary enterprise software used by sales professionals in a company. Also known as a type of customer relationship management software, or CRM, it is the system of record for sales professionals to enter in their contacts, progress of leads, and for sales metrics to be tracked. Any company directly selling their products and services would benefit from a CRM.

The art of making perfumes and colognes hasn't changed much since the 1880s, when synthetic ingredients began to be used. Expert fragrance creators tinker with combinations of chemicals in hopes of producing compelling new scents. So Achim Daub, an executive at one of the world's biggest makers of fragrances, Symrise, wondered what would happen if he injected artificial intelligence into the process. Would a machine suggest appealing formulas that a human might not think to try? Daub hired IBM to design a computer system that would pore over massive amounts of information--the formulas of existing fragrances, consumer data, regulatory information, on and on--and then suggest new formulations for particular markets. The system is called Philyra, after the Greek goddess of fragrance.

The art of making perfumes and colognes hasn't changed much since the 1880s, when synthetic ingredients began to be used. Expert fragrance creators tinker with combinations of chemicals in hopes of producing compelling new scents. So Achim Daub, an executive at one of the world's biggest makers of fragrances, Symrise, wondered what would happen if he injected artificial intelligence into the process. Would a machine suggest appealing formulas that a human might not think to try? Daub hired IBM to design a computer system that would pore over massive amounts of information--the formulas of existing fragrances, consumer data, regulatory information, on and on--and then suggest new formulations for particular markets. The system is called Philyra, after the Greek goddess of fragrance.