Cloud data platform, Snowflake, has announced an expanded partnership with NVIDIA to help enterprise customers build bespoke, use-case specific AI applications.
The partnership was announced on 3 June at Snowflake Summit 2024 by CEO Sridhar Ramaswamy and Nvidia founder and CEO Jensen Huang and will see Nvidia’s AI enterprise software integrated into Snowflake’s Cortex AI LLM.
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Pairing Nvidia’s full stack accelerated computing and software with Snowflake’s Cortex AI LLM will enable customers from every industry and every skill level to build custom AI applications based on their enterprise data with ease, efficiency and trust, according to Ramaswamy.
The announcement continues an existing collaboration between Snowflake and Nvidia to deliver a single, unified AI infrastructure and compute platform in the AI data cloud.
Snowflake’s mission to enable enterprises to build foundational models aligns with AI market trends. According to research and analysis company GlobalData’s 2024 AI predictions, organisations will increasingly use smaller, more vertically focused and domain-specific models.
Small language models (SLMs) have several advantages over LLMs, including cost savings and the potential to address privacy concerns, according to GlobalData’s thematic intelligence executive briefing on AI.
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By GlobalDataBy using self-hosted or smaller models, companies will be able to train the models on their own data, increasing accuracy and relevance as well as increasing efficiency and creating cost savings. In fact, some tasks, including code generation and customer service applications, are particularly suited to SLMs.
Addressing an audience at the Snowflake Summit 2024, Huang outlined a paradigm shift in the way data is processed which is enabled by the Snowflake and Nvidia’s collaboration.
Enterprise data processing is becoming increasingly complex as volumes grow exponentially. By bringing high performance computing to the data rather than moving data to computing access points saves time and money, according to Huang, who described the shift as “profound”. AI development is moving so fast that “time to market is everything,” he added.
GlobalData forecasts that the overall AI market will be worth $909bn by 2030, having grown at a compound annual growth rate (CAGR) of 35% between 2022 and 2030. In the generative AI space, revenues are expected to grow from $1.8bn in 2022 to $33bn in 2027 at a CAGR of 80%.
