Google Cloud has released two generative AI models on its Vertex AI platform, Veo and Imagen 3, as companies leveraging the technology report a sharp increase in revenue.
According to data from Google Cloud, 86% of enterprise companies currently using generative AI in production are seeing increased revenue, with an estimated average growth rate of 6%.
This metric drives the tech giant’s latest innovation push, resulting in the introduction of Veo, its most sophisticated video generation model to date, and Imagen 3, its advanced text-to-image generation system. I did.
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Now available in private preview on Vertex AI, Veo represents a milestone for Google to become the first hyperscaler to offer an image-to-video model. This technology allows businesses to generate high-quality videos from simple text and image prompts, potentially revolutionizing video production workflows across industries.
Imagen 3 – scheduled to be released to all Vertex AI customers next week – promises unprecedented realism in the images produced, with significant improvements in detail, lighting, and artifact reduction. This model includes new features for whitelisted enterprise customers, including advanced editing features and branding customization options.
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Several large companies are beginning to implement these technologies into their operations.
Mondelez International, whose brands include Oreo, Cadbury and Chips Ahoy!, uses this technology to accelerate the creation of campaign content across its global brand portfolio.
Jon Halvorson, senior vice president of consumer experience and digital commerce at Mondelez International, explains: “Our collaboration with Google Cloud has revolutionized content creation, especially by harnessing the power of generative AI through Imagen 3.
“This technology has enabled us to create hundreds of thousands of customized assets, improving creative quality while significantly reducing both time-to-market and cost.”
Knowledge sharing platform Quora has developed Poe, a platform that allows users to interact with generated AI models. Veo and Imagen have been merged into Poe.
Spencer Chan, Product Lead for Poe on Quora, commented: Veo enables millions of users to bring their ideas to life through amazingly high-quality generated videos. ”
Safety and security
In response to growing concerns about AI-generated content, Google has implemented robust safety features in both models. These include:
Watermarking with Google DeepMind’s SynthID. Built-in safety filters to prevent the creation of harmful content. Strict data governance policies ensure customer data is protected. Industry-first copyright coverage for generative AI services.
The announcement of these new models signals Google’s growing influence in the enterprise AI space and signals a shift toward more sophisticated, integrated AI solutions for business applications.
(Image credit: Google Cloud)
Reference: Alibaba Marco-o1: Advances in LLM inference capabilities
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