Alphabet’s investment company, Capital G, told CNBC that it has invested $100 million in AI market intelligence company AlphaSense; According to Capital GAlphaSense aggregates data from more than 10,000 data sources, indexes the information, and then overlays it with an AI-powered search interface that allows users to find valuable insights “that drive business results. moves forward.”
Impressively, AlphaSense already has 4,000 enterprise customers including many companies in the S&P 500. Its services are used by companies across the board, including banks, investment firms, life sciences, energy, industrials, consumer goods, and tech companies. According to CNBC, CapitalG believes that AlphaSense, with all of these customers, is worth about $1.8 billion.
To date, AlphaSense collects a wealth of information, including company filings, event transcripts, presentations, Wall Street equity research, news and regulatory filings, and a proprietary library of interview transcripts. With CapitalG’s investment, the hope is that AlphaSense will be able to incorporate larger language models into its products to make information even more accessible to people outside of traditional financial services.
The plan to integrate an LLM on top of all this data is quite interesting and suggests that this technology can be used in more ways than chatbots we’ve seen so far.
Source: Alpha Sense through CNBC
