France’s Mistral AI has announced its first Generative AI model to compete with US leaders in the space.
The move is designed to allow the French FinTech to combat US giants such as Meta and OpenAI, according to a report from Bloomberg.
In the coming months, Mistral AI will progressively and methodically release new models that close the performance gap between black-box and open solutions – making open solutions the best options on a growing range of enterprise use-cases.
The firm believes it has developed more efficient and cost-effective training methods, positioning itself as a strong contender in the AI market
Mistral AI CEO Arthur Mensch said, “We have training methods that make us more efficient and two times less expensive to implement.”
The company has released Mistral 7B, its first 7B-parameter model, which outperforms all currently available open models up to 13B parameters on all standard English and code benchmarks.
Mistral 7B is only the first step toward building the frontier models on Mistral AI’s roadmap. It processes and generates text much faster than large proprietary solutions, and runs at a fraction of their costs.
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