Artificial Intelligence has already become a reality that companies are implementing. Advances in the development of AI have focused the attention of the recently concluded Mobile World Congress (MWC) 2023 in Barcelona. In fact, it has been one of the central axes of the 4YFNthe space dedicated to startups that offers support to investors and companies to establish connections and undertake new business projects together.
This space has been a faithful reflection of the fever that exists for Artificial Intelligence and that has reached Wall Street, thanks to the viral success of Open AI’s ChatGPT. Google, for example, has lost more than 100,000 million dollars in the stock market due to the possibility, for the first time, that there may be a better system for searching. And it is that with more than 100 million monthly active users in January, ChatGPT has become the fastest growing consumer application in history, according to UBS. In addition, IDC data shows that investment in Europe will double to $21 billion in 2023, up from $12 billion in 2022.
In this scenario, M47 Labs, the ‘made in Spain’ tool focused on training machine learning algorithms, presents its advances in its intelligent natural language processing (NLP) platform. “The so-called ‘language economy’ will grow in 2023 thanks to initiatives such as the strategic projects for economic recovery and transformation (PERTE), where AI applied to language is one of its pillars and which will move more than 1,000 million in Spain alone . That is why, with a multidisciplinary team 100% focused on Artificial Intelligence and development and our proprietary M47.AI technology, we will be able to implement custom AI solutions 10 times faster, saving time and cost in automating internal processes” , Explain Enrique Plana, CEO of M47 Labs.
The Spanish startup, Founded in 2018, it aims to continue democratizing access to quality data in different languages for Artificial Intelligence training. M47.IA, which trains the algorithms through a combination of automation and ‘human-in-the-loop’ reinforcement. For these experts, the next step in this democratization and adoption of AI involves the combination of developing the appropriate Machine Learning algorithms and having a solid data strategy with which to train the model based on the aspect. that you want to address.
“We start from the idea that Artificial Intelligence algorithms are not perfect: generalist models do not adapt to the specific needs of each company, have little reliability, do not adjust well to languages other than English, and can reproduce (cultural) biases. , racial, gender, etc.). But algorithms can be trained by obtaining quality data that is expertly annotated, secure, diverse, and sourced from an ethical, legal, and error-free data source.” points out Enric Plana, who highlights that 40% of companies consider that AI will be the most important technology by 2023.
The development of natural language processing (NLP) technologies in Spanish is one step behind English and represents less than 30% of the world market, according to the consultancy Credence Research. “The expected growth in investment in AI by 2023 in Spain was 30%. However, the media impact that ChatGPT has caused has meant that this forecast was already exceeded in February and that it is expected to grow more than double this year”, maintains the co-founder and CEO of M47 Labs.
