AI21 Labs Raises $64 Million To Enhance Reading & Writing With AI
AI21 Labs offers various services for improving the everyday interaction with language, both reading and writing. They've raised $64 million in a Series B funding round in this effort.
Created on July 14|Last edited on July 14
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With the rapid advancement of large language models, it's not hard to think of ways they could enhance our own interaction with language through reading and writing. We're all guilty of cracking open the thesaurus every now and then to spice up what we write, and if there's a long blog post or paper we have to read we just jump to the TL;DR or summary section.
Well, what if we could use AI to streamline those processes even more?
AI21 labs offers a pair of free services called Wordtune and Wordtune Read. Wordtune uses AI to rewrite sections of your writing you think could be worded better; Essentially an AI-powered phrase thesaurus. It can even be directed to make it sound professional, casual, and more. Wordtune Read on the other hand uses AI to summarize long blog posts, research papers, and more into easily digestible summarizations.
On top of the Wordtune offerings, and this one is more for the developers and businesses out there, AI21 has a product called AI21 Studio which grants access to their cutting-edge language models through a simple API.
A more recently developed system, Jurassic-X, uses a modular-like structure that connects with external up-to-date knowledge sources to process natural language for accurate reasoning and response.
Who's funding AI21 Labs and where's the money going?
In a Series B funding round announced, AI21 Labs has raised $64 million thanks to funding leader Ahren Innovation Capital. Additional participation is thanks to Amnon Shashua, Mark Leslie, Pitango Venture Capital, TPY Capital, and Walden Catalyst.
The money is said to be going towards investment into their research and development efforst, and for the recruitment of new marketing and sales employees.
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