Announcing our $14M Strategic Seed Round
At Prem, we believe that the future of AI is Sovereign. This is why we are building a comprehensive ecosystem to enable companies worldwide to fully benefit from the potential of generative AI while retaining ownership and control of their data.
Platform
Following the successful release of Prem App, a free and open-source alternative to ChatGPT, our team has focused on developing the Prem Platform for businesses. The Platform empowers companies’ offerings by integrating generative AI into existing products and SaaS solutions. Our customers range from various industries, including finance, compliance, commerce, gaming, and entertainment.
Additionally, we are doubling down on our research and development efforts on our proprietary Autonomous Fine-tuning Agent. This groundbreaking technology empowers companies to rapidly create custom AI models and workflows, ensuring exceptional speed while maintaining complete control over their data.
Startups and enterprises increasingly use generative AI strategies to improve revenue, reduce costs, and enhance customer experiences.
Although open-source AI offers a solid foundation and independence from specific vendors for important AI functions, it can encounter problems such as inconsistent quality control, inefficient evaluation methods, and fragmentation that complicate integration and compatibility.
To address these challenges, Prem's Platform integrates cutting-edge AI models and customizes them to meet specific business needs. Furthermore, Prem's Platform emphasizes user-friendliness with simple deployment, intuitive interfaces, and rapid time-to-value.
Research
Prem Labs is dedicated to cutting-edge research, which fuels our industry-leading performance and reliability in customizing proprietary models. Our team comprises diverse talents with extensive expertise in artificial intelligence research and distributed databases. Under the expert guidance of academic advisor Emanuele Carpanzano, we actively collaborate on research efforts with renowned institutions like the University of Applied Sciences and Arts of Southern Switzerland (SUPSI) and the Università della Svizzera Italiana (USI). This collaborative approach enables us to push the boundaries of innovation and deliver exceptional solutions tailored to our client's needs.
Building on this foundation, Prem is leading the development of a new category of efficient and cost-effective foundational Small Language Models (SLMs). These open-source SLMs are designed to enhance business applications and are tailored for fine-tuning to meet the specific needs of different business scenarios. Notably, over 90% of large language model applications involve summarization or Retrieval Augmented Generation (RAG) tasks. For such tasks, smaller, specialized models prove to be more effective.
| Model | Avg | Arc-c | Arc-e | Hellaswag | MMLU | Obqa | Piqa | Winogrande |
|---|---|---|---|---|---|---|---|---|
| prem-1B | 42.64 | 24.74 | 57.40 | 42.01 | 24.75 | 21.00 | 72.14 | 56.43 |
| prem-1B-chat | 41.76 | 24.48 | 53.32 | 40.28 | 25.27 | 22.20 | 70.89 | 55.88 |
| TinyLlama-1.1B-Chat-v1.0 | 46.16 | 30.03 | 61.53 | 46.56 | 24.72 | 25.80 | 74.21 | 60.29 |
| opt-1.3b | 42.94 | 23.37 | 57.44 | 41.49 | 24.86 | 23.20 | 71.49 | 58.72 |
| pythia-1b | 40.71 | 24.31 | 56.90 | 37.72 | 23.20 | 18.80 | 70.62 | 53.43 |
Rohit Gupta
The capabilities of Prem's SLMs and Prem's Autonomous fine-tuning agent create an ideal environment for companies to develop independent intelligence systems. We view Generative AI as a transformative technology that will significantly upgrade our economic landscape, functioning like a new operating system for applications.
Instead of relying solely on a few large, monolithic models, we foresee a future populated by millions, and eventually billions, of both proprietary and open models. This diversity will provide companies and individuals worldwide with more ownership options. Our goal is to democratize the process of AI generation, ensuring that the benefits of generative technology are accessible to all.
We invite you to join us along this journey. Stay tuned for exciting updates and announcements as we continue to shape the future of generative technology:
Simone Giacomelli, Founder and CEO
PRESS RELEASE GlobeNewswire
