Beyond Big Tech - How Brand Engagement Network (NASDAQ: BNAI) Is Shaping The Future Of AI
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March 26, 2024 09:15 AM Eastern Daylight Time
By Faith Ashmore, Benzinga
Generative AI has taken the world by storm but the not-so-secret reality is it's largely owned by Big Tech. While many thought that AI would become a thriving competitive ecosystem where start-ups and established companies alike could take advantage of new technology, the truth is much more stark. Almost every startup, new player and even AI research lab relies on Big Tech. They depend on the computing infrastructure of Microsoft (NASDAQ: MSFT), Amazon (NASDAQ: AMZN) and Google (NASDAQ: GOOG) to train their AI systems, as well as the extensive consumer market reach of these firms to deploy and market their AI products.
In fact, many AI companies opt to license and rebrand AI models – in a method referred to as “wrapping” – that were originally developed and sold by these tech giants or their affiliated startups. While these systems may be operational, it begs the question; ‘By using AI, are we granting even more power to these industry behemoths?’ It's an important question to consider, especially when it seems like every week there is a new congressional hearing with Big Tech CEOs to gain transparency into their systems. AI is certainly the way of the future, but smaller companies shouldn’t be run out of the equation by Big Tech either.
The AI Company Standing Up To Big Tech And Setting Itself Apart
Brand Engagement Network (NASDAQ: BNAI) (BEN) seems to be making a splash in the AI industry. The pure-play AI company's target market encompasses client service businesses seeking heightened efficiencies and enhanced customer experiences. Having commenced operations in 2018 and initiated its generative AI in 2019, the company is committed to furthering the future of AI. The company has spent the past several years acquiring patents to enhance sound and image processing, sensor data and AI perception and understanding.
The company released its AI/3D avatar prototype in 2020, showcasing BEN's ability to blend cutting-edge technology with immersive user experiences. BEN’s AI has distinguished itself from competitors through 16+ perception, understanding, and response AI modules that facilitate a truly human-like interaction in the ways it can listen, see, speak, and react.
Another way it distinguishes itself is through its data. It isn’t like most LLMs, where there is a risk of the conversational AI “losing its mind,” infringing copyrighted information, or hallucinating. In other words– businesses determine the parameters of what BEN’s AI can and cannot say.
BEN’s AI assistants are walled gardens for each business, meaning they learn and are trained on what the business specifies they learn and train on and the benefits are contained to that individual instance. It truly is the businesses’ AI. BEN’s full stack solutions can be ring fenced and operate without access to 3rd party systems or without an external internet connection for companies where maximum data security and compliance are a must.
BEN has just announced the successful completion of its business combination with DHC Acquisition Corp., under which DHC shareholders approved the transaction at its extraordinary general meeting held on March 5, 2024. The combined company will now operate under the name of Brand Engagement Network Inc., and it commenced trading on the Nasdaq Stock Market on Friday, March 15, 2024. Its common stock is traded under the ticker symbol BNAI, while publicly traded warrants will be traded under the ticker symbol BNAIW.
“We are pleased to complete our business combination with DHC and begin our next chapter. As a pure play public AI company, we expect BEN will continue to lead the design of business-safe AI solutions. We are committed to AI that delivers to our customers personalized consumer engagement, superior CX, productivity and performance through helpful, friendly AI assistants,” said BEN CEO Michael Zacharski. “We are incredibly grateful to our leadership team, employees and partners around the world for their support in our journey. We are looking forward to the future and believe BEN is well-positioned to capitalize on significant growth opportunities and generate substantial value for all stakeholders.”
With Big Tech dominating the AI industry, companies like BEN are a breath of fresh air. Not to mention, its technology, in many ways, supersedes some of the limitations of existing AI. For businesses that want a tailored customer experience and are looking to cut costs with AI, BEN’s technology could be the solution.
Featured photo by Growtika on Unsplash.
Benzinga is a leading financial media and data provider, known for delivering accurate, timely, and actionable financial information to empower investors and traders.
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