Raising $350 million is no small feat for an AI startup in today’s competitive landscape. However, Adept AI, a company just one year old, has achieved this remarkable milestone. They have recently announced a new round of funding that highlights their vision to empower knowledge workers in optimizing their everyday software tools through the use of their generative AI.
Imagine effortlessly generating profit and loss columns in Google Sheets or setting up reminders in Salesforce with just a simple text command. Whether it’s simplifying internet browsing or streamlining tasks within complex enterprise software, Adept AI envisions a world where what used to require numerous clicks can now be accomplished swiftly through intuitive text prompts.
Instead of generating text like OpenAI’s ChatGPT or creating images like DALL-E, the San Francisco-based company Adept’s platform focuses on studying human interactions with computers. It specializes in developing AI models that can translate text commands into automated actions for complex software workflows. Adept’s flagship foundation model, ACT-1, excels at comprehending high-level natural language user requests within software tools and directly executing tasks on their behalf.
According to co-founder and CEO David Luan, “In recent years, we’ve witnessed the remarkable capabilities of giant foundation models for both language and images. Adept is harnessing this momentum to introduce a novel foundation model capable of executing actions within any software tool using natural language.” This statement was made in a press release.
In the fiercely competitive landscape of generative AI startups, distinguishing oneself is paramount, especially when targeting knowledge workers.
Just this week, both Google and Microsoft have engaged in a head-to-head battle of generative AI announcements. Google unveiled its PaLM API and showcased enhancements to Google Workspace, while Microsoft has been rumored to unveil GPT-4 during the upcoming ‘Future of Work with AI’ event this Thursday. These developments serve as unmistakable indicators of Big Tech’s ongoing consolidation of power in the AI realm.
The success of Adept AI’s offerings in the long term remains uncertain, but investors like Workday Ventures are placing substantial bets on their potential.
Michael Magaro, Senior Vice President of Corporate Growth at Workday Ventures, commented on this partnership, stating, “Workday’s vision of harnessing AI and ML to enhance human capabilities and infuse greater intelligence into finance and HR aligns seamlessly with Adept’s mission to empower knowledge workers responsibly.”