MosaicML has created its foundational models for the service. Credit: metamorworks via Shutterstock.

MosaicML, a generative artificial intelligence (AI) solutions provider has launched a new service to compete with the likes of OpenAI on price.

Called MosaicML Inference, the new offering is aimed at enterprise customers to aid them in training and deploying generative AI-powered solutions.

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With the rise in popularity of large models like ChatGPT and Stable Diffusion, organisations are increasingly looking to leverage these technologies.

According to MosaicML, while these solutions are apt for those unconcerned with cost and willing to share data, building and hosting own models can be a cost-effective alternative for organisations with strict data privacy requirements.

The San Francisco-based firm says it is making technology accessible to all organisations at a price up to 15 times lower than what is offered by its rivals.

Speaking to Reuters, MosaicML CEO Naveen Rao said: “We understand how to make these things very optimised. So do they. There is a lot of margins built into this stuff, and at 15 times cheaper, we are still making money on it.”

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MosaicML has created its foundational models to support its new service, similar to the technology behind chatbot-enabled products from Microsoft and Google.

MosaicML, like its competitors, will provide its technology on rent to customers.

However, unlike most of them, MosaicML will also give its code to customers so that they can run it on their hardware, thereby keeping their data confidential from MosaicML.

According to Rao, due to data privacy concerns, many corporate customers prefer this approach as much of the value of an AI system comes from the data used to train it.

“People buy us because we can do things on their private data. They have assurances that the model that’s built on the private data is owned by them,” Rao added.