News Summary

Nick Frosst, co-founder of Canadian AI startup Cohere, criticized OpenAI CEO Sam Altman for exaggerating the capabilities of artificial general intelligence (AGI) on the 20VC podcast. Frosst argued that increasing computing power does not necessarily advance AGI, a concept he describes as treating computers like people. He emphasized Cohere’s focus on practical AI applications in the workplace, offering efficiency to enterprises and governments. Cohere recently raised $500 million USD, valuing the company at $6.8 billion USD. Despite funding challenges compared to giants like OpenAI, Cohere aims for efficiency, utilizing synthetic data for model training. Frosst warned against uninformed AI regulations, echoing sentiments from Canada’s AI minister about balanced regulation.