OpenAI rival AI21 Labs raises $64M to ramp up its AI-powered language services

The enterprise is bullish on AI systems that can understand and generate text, known as language models. According to a survey by John Snow Labs, 60% of tech leaders’ budgets for AI language technologies increased by at least 10% in 2020. And one vendor, OpenAI, says that its premiere language model, GPT-3, is being used by tens of thousands of developers.
Eager for a slice of the pie, new providers have materialized in recent years claiming to bring unique language modeling capabilities to the table. Beyond well-resourced startups like OpenAI, Cohere and Hugging Face, there’s a crop of

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