Lingua Custodia wins the Large AI Grand Challenge
The French Fintech company Lingua Custodia, a specialist in Natural Language Processing (NLP) applied to Finance since 2011, was delighted to receive an award in Brussels yesterday. This award, which was presented by EU Commissioner Thierry Breton, is designed to reward innovative start-ups and SMEs for devising ambitious strategies and making commitments to develop large-scale AI foundation models that will provide a competitive edge for Europe.
Together with 3 other technology SMEs, Lingua Custodia will share a prize of a total of €1 million and access to two of Europe’s world-leading supercomputers, LUMI and LEONARDO for 8 million hours. This challenge was highly competitive and received 94 proposals.
Lingua Custodia’s AI foundation models
Lingua Custodia’s winning proposal focused on developing a series of AI foundation models with 3 major objectives, using the company’s existing skills and known expertise in the AI arena:
- Build very cost effective, fast and efficient models to run on smaller servers and democratize the technology while reducing energy consumption
- Ensure the models can handle multilingual queries and make them available to non-English speakers
- Tune the models for the retrieval of information (RAG) to enhance the usage of generative AI for multilingual knowledge management.
Lingua Custodia’s focus on cost and energy efficient AI foundation models
Olivier Debeugny, CEO of Lingua Custodia, declared to Thierry Breton: “Lingua Custodia is an AI company, that has raised a modest amount of capital since its launch. This has been a catalyst for our creativity and resourcefulness and we therefore have the skills to optimize everything we develop. This is why we have been working on the design of multilingual, extremely cost and energy efficient models to be applied to an AI use case with a high Return on Investment.”
About Lingua Custodia
Lingua Custodia is a Fintech company leader in Natural Language Processing (NLP) for Finance. It was created in 2011 by finance professionals to initially offer specialised machine translation.
Leveraging its state-of-the-art NLP expertise, the company now offers a growing range of applications: Speech-to-Text automation, Linguistic data extraction from unstructured documents, etc.. and achieves superior quality thanks to highly domain-focused machine learning algorithms.
Its cutting-edge technology has been regularly rewarded and recognised by both the industry and clients: Investment houses, global investment banks, private banks, financial divisions within major corporations and service providers for financial institutions.