Zoho is readying AI model to take on Google, OpenAI
In a bid to take on Google and OpenAI, homegrown software-as-a-service (SaaS) firm Zoho Corporation has decided to ready a large language model (LLM). The Chennai-based company's LLM is currently under development and will take on Google's PaLM 2 and OpenAI's GPT models. Zoho's founder and CEO Sridhar Vembu, is overseeing the project. A specific timeline for its completion has not been disclosed.
What will the LLM do?
Zoho, which has been working on AI for a decade, claimed that it integrated 13 of its apps with ChatGPT, in order to serve customers. Now, the firm is working on an LLM of its own that will be capable of "summarising, paraphrasing, and adapting to new tasks," per Praval Singh, Zoho's VP of Marketing. The company's India-based R&D team is working on it.
Sam Altman recently claimed competing with OpenAI was 'hopeless'
Zoho's decision to build LLM comes in the backdrop of controversial comments made by OpenAI's Sam Altman during his visit to India. Altman allegedly took a dig at India's AI capabilities, claiming that it was "hopeless" for start-ups with $10 million funding to build LLMs. Members of the local business community as well as the government, have decided to take up his challenge.
Zoho unveiled a cross-platform web browser in May
Last month, Zoho introduced a cross-platform web browser called Ulaa, to take on Google Chrome, Firefox, and Microsoft Edge. Based on the Chromium platform, it uses the privacy-oriented DuckDuckGo as its default search engine. The free web browser is available for all major operating systems and comes with a built-in ad-blocker. It also offers support for cross-platform syncing.
A look at Zoho's financials
Zoho is faring quite well on the business side. In India, the firm has clocked a 65% compound annual growth rate (CAGR) in the "mid-market and enterprise segments." As of now, the two segments account for over half of its annual recurring revenue (ARR) in the country. Meanwhile, globally, the firm saw a whopping 65% CAGR in the same mid-market and enterprise categories.
Which sectors are driving the company's growth?
Six sectors are driving Zoho's growth story in India. They are manufacturing, retail, banking, financial services and insurance (BFSI), pharmaceuticals, fast-moving consumer goods (FMCG), and IT.
