VANCOUVER, BC, June 12, 2023 /PRNewswire/ - Generative AI Solutions Corp. ("GenAI" or the "Company") (CSE: AICO) (FSE: 99L.F) (OTC: AICOF) is pleased to announce the creation of MAI Cloud™, its Artificial Intelligence ("AI") cloud service that will provide High-Performance Computing ("HPC") power for AI computing requirements, including rapid processing power, large-scale storage, and state-of-the-art software applications, all delivered via the cloud over the internet on a pay-as-you-go basis. The Company has incorporated a wholly owned subsidiary, MAI Cloud Solutions Inc., through which the MAI Cloud™ platform will be launched. MAI Cloud Solutions Inc. intends to utilize NVIDIA A100's and H100's to power the MAI Cloud™ platform and is currently seeking hosting arrangements with third parties.
The NVIDIA A100s and H100s are specialized graphics processing units ("GPU") designed for AI computing and deep learning tasks. One of the notable features of the A100 and H100 GPUs are their tensor core technologies. Tensor cores are hardware accelerators designed to efficiently perform matrix operations, which are fundamental to AI computations, such as matrix multiplications and convolutions. Tensor cores enable faster training and inference times for deep neural networks, improving the overall efficiency of AI workloads.
MAI Cloud™ will enable its customers to access and utilize resources without the need for physical infrastructure or hardware on their premises. AI algorithms require substantial computational power and large datasets for training and inference, which can be efficiently hosted and managed in the cloud. MAI Cloud™ will provide scalable and on-demand computing resources, allowing organizations to easily scale up or down based on their AI needs, enabling faster and more efficient training and inference processes.
Ryan Selby, CEO of GenAI, comments "We are extremely excited to announce the creation of our MAI Cloud™ HPC platform which is being specially designed to support our internal and external proprietary AI solutions. This strategic move dramatically enhances our ability to deploy, manage, and scale unique AI models securely and efficiently. The flexibility and scalability of our MAI Cloud™ platform, combined with robust security measures, ensures that proprietary AI technology can be deployed on MAI Cloud™ at scale while safeguarding sensitive information and intellectual property. We are building a vertically integrated AI solutions business, and MAI Cloud™ will provide a proprietary cloud-based database that will deliver security and value throughout our entire AI value chain. In addition to developing our own proprietary in-house AI solutions, we also aim to develop AI solutions for third-party organizations and customers. Additionally, all of our internal and external products and solutions can be hosted on the MAI Cloud™ platform, providing potential cost savings and multiple ongoing revenue streams for the Company."
GenAI intends to use the MAI Cloud™ platform to perform AI computing tasks and hosting for its existing internal projects, including GenAI Tobacco, Remitz, Classmate, and Global AI Newswire.
GenAI Tobacco is a large language model ("LLM") dedicated to harnessing the power of AI for the tobacco industry. The company intends to launch the LLM tobacco product under the brand name Tobacco Titan™. Using various proprietary and public datasets, in addition to other information, Tobacco Titan™ is being developed to provide valuable AI-powered intelligence and information to companies and individuals in relation to the tobacco industry.
Remitz is one of the leading providers of automated revenue recovery services in the healthcare space and has leveraged data-driven analytics and industry-changing technologies to develop a unique approach to medical billing. Using sophisticated algorithms, Remitz can identify and submit claims that would otherwise go uncollected - driving smarter billing processes and maximizing profits for healthcare professionals nationwide. Remitz uses generative AI to analyze billing data, identify discrepancies, and optimize collections strategies, ultimately saving time and resources while improving the overall patient experience. To date, the AI billing system used in Remitz has billed over US$100 million at an estimated 40% Gross Margin (unaudited) and has serviced providers in respect of more than one million patients. For more information about Remitz, visit www.remitz.com.
Classmate is a GenAI-powered tutor that uses the latest advances in natural language processing to understand questions and provide accurate and relevant answers. Students can quickly find answers to their educational questions and gain a deeper understanding of the subject matter. With Classmate, learning can become more engaging, efficient, and enjoyable. For more information about Classmate, visit www.ClassmateApp.ai.
Global AI Newswire is building an AI-powered public company press release summarizer with the goal of distilling complex information into efficient and easy-to-understand summaries. Global AI Newswire will employ generative AI algorithms to analyze and condense press releases, delivering quick and accurate insights that enable investors, journalists, and the public to stay informed about the latest corporate news.
On Behalf of the Board,
Ryan Selby
CEO, Director, and Chairman of the Board
Generative AI Solutions Corp.
Toll-free North America: +1-833-879-7632
Outside North America: +1-406-879-7632
info@genai-solutions.com
www.genai-solutions.com
ABOUT GENERATIVE AI SOLUTIONS CORP.
GenAI is a pioneering artificial intelligence company focused on developing a vertically integrated AI solutions business through its proprietary MAI Cloud™ database, with the development and commercialization of AI-powered tools and solutions for businesses and consumers across multiple industries. At GenAI, our mission is to harness the power of AI to create transformative products and services that benefit businesses and consumers across various sectors. Our team of talented AI professionals and engineers are dedicated to developing state-of-the-art AI-based solutions that have broad applicability and can be seamlessly integrated into diverse workflows. By leveraging our MAI Cloud™ platform and our expertise in machine learning, natural language processing, and data analytics, we build versatile, high-performance tools that redefine efficiency, productivity, and user experience.
For more information on GenAI, please visit www.genai-solutions.com.
FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking information" which may include, but is not limited to, information with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future, such as: the Company's expectations with respect to the development of the MAI Cloud™ Product or any of its Products and the timing thereof; the ability of the Company to achieve the development of the MAI Cloud™ Product or any of its Products; the ability of the Company to commercialize the MAI Cloud™ Product or any of its Products; the Company's ability to close other strategic acquisitions; the Company's ability to produce artificial intelligence tools and solutions; the ability of the Company to drive growth and profitability for consumers and businesses; and the opportunities for artificial intelligence in healthcare, finance, manufacturing, and logistics industries. Such forward-looking information is often, but not always, identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "might" or "will" be taken, occur or be achieved. Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information. Those assumptions and factors are based on information currently available to the Company.
Forward looking information involves known and unknown risks, uncertainties and other risk factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks include risks related to the inability of GenAI to develop the MAI Cloud™ Product or any of its Products on the expected timeline or at all, increased competition and current global financial conditions, access and supply risks, reliance on key personnel, operational risks, regulatory risks, financing, risks related to the regulation and oversight of artificial intelligence, capitalization and liquidity risks. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company undertakes no obligation, except as otherwise required by law, to update these forward-looking statements if management's beliefs, estimates or opinions, or other factors change.
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.
View original content to download multimedia:https://www.prnewswire.com/news-releases/genai-creates-mai-cloud-301847966.html
SOURCE GENERATIVE AI SOLUTIONS CORP.
