Chai Prize: AI announces $1 million competition to compete with ChatGPT

Industry: Technology

Chai, AI company, announces the Chai Prize, the first $1 million USD AI language modelling competition evaluated by real user engagement. By open-sourcing their evaluation metrics and giving developers access to user feedback, the company works with the expertise of the AI community to create a world-class user experience.

Palo Alto, CA (PRUnderground) August 15th, 2023

In a move to foster more competition and collaboration among the fast-developing field of large language models, startup Chai has announced the launch of a $1 million competition they are calling ‘The Chai Prize’. Engineers from around the world will be encouraged to create the best-performing natural language model.

Chai’s founder and CEO, William Beauchamp, hopes the prize will lead to meaningful advances in the capabilities of AI to power entertaining user experiences. “When I founded Chai, I envisioned a platform for AI to bring joy to users,” said Beauchamp in a statement. “We at Chai are dedicated to inspiring innovation in the field and created the Chai Prize to help in continuing to make that vision a reality.”

By open-sourcing their methods for evaluating AI, Chai challenges competitors to match or beat their current model, as well as competing against industry leaders such as OpenAI. The competition has already paid out $20,000 within 1 month since launch, two notable prize winners are Philipp Signer and Pascal Pfeiffer, who are both top-ranked AI competition grandmasters.

With a valuation of $205 million, Chai Research is a leader in natural language modelling. As the global competition for the Chai Prize accelerates the innovation of better chat AIs, and more realistic natural language interactions, Chai will not only have another edge over the competition, but potentially a lasting edge in the ever-evolving landscape of AI.

The Chai Prize will take place with support from other prominent companies in the AI landscape, including Nomic, Together and Coreweave.

Submissions to the Chai Prize are now open. Besides taking advantage of potential cash prizes, competing could give engineers their first taste at producing models that as powerful as Chai’s flagship AI.

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