Capgemini has struck a new partnership with Mistral AI in order to accelerate more accessible, versatile and cost-effective generative artificial implementation at scale, the two companies shared with QA Financial.
The collaboration between the Paris-based information tech multinational and Mistral AI, generally considered one of the world’s leading players in artificial intelligence, should allow Capgemini to help its client portfolio of banks, insurers and financial services firms to speed up their generative AI use cases by embedding Mistral AI’s foundational models into their relatively young AI architecture.
Since Capgemini aims to target a large portion of its clientbook, ‘scale’ is the key driver behind this partnership, according to Fernando Alvarez (pictured right), Chief Strategy and Development Officer at Capgemini and Group Executive Board member.
“Sustainable business transformation demands the ability to scale, and for generative AI this means efficient, high performing open models with smaller compute size and lower carbon footprint installations,” Paris-based Alvarez explained.
“With Mistral AI, we will help to spearhead the artificial intelligence revolution.”
Fernando Alvarez, Capgemini
In addition, Arthur Mensch, co-founder and the current CEO of Mistral AI, said in agreement that his company “is on a mission to push generative AI forward.”
Like Alvarez, Mensch stressed that deployment at scale is one of the biggest barriers to the widespread adoption of generative AI.
“It is only through collaboration with like-minded visionaries that we will accelerate the diffusion of this world changing technology,” he noted.
Market exploding
The demand for generative AI services has exploded in recent years and continues to swell globally, with more and more firms, as well as investors, piling into the fast-evolving space.
According to recent data from Stocklytics, the generative AI market exceeded the $66 billion mark earlier this year.
Stocklytics analyst Edith Reads understands why Capgemini is embracing a partnership with Mistral AI as the London-based financial observer pointed out that “nearly every tech giant has leaped the Generative AI bullet train.”
“The recent increase in revenue is a testament to the intensifying interest in the generative artificial intelligence field.”
Stocklytics analyst Edith Reads
She added that, with the industry bound to gain more support, the overall generative market is expected to secure nearly $207 billion by 2030 with a 20.8% compound annual growth rate.
Global rollout
As a result of the deal, Capgemini’s clients will get access to Mistral AI’s capabilities in data and AI, generative AI services and industry expertise, as well as the company’s various AI models.
In addition to banks, insurance companies and other financial services firms, the companies also plan, at a later stage, to open up their partnership to Capgemini clients in the aerospace and defense, utilities and telcos, and public sectors.
Based in France and with a team of AI scientists primarily across Europe, Mistral AI’s models work to realise customization and are pre-trained for multi-lingual competencies, which is increasingly an important requirement for the global financial services space, particularly since this is a fairly regulated sector.
Mistral AI was only founded in April of last year by researchers previously employed by Meta and Google DeepMind: Arthur Mensch (pictured left), Timothée Lacroix and Guillaume Lample. It raised about $415 million in October of last year.
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