Stitch Acquires ExiPay to Offer Omnichannel Payment Solutions to Enterprises
South African fintech startup Stitch acquires ExiPay to integrate online and in-person payments, expanding its product offerings to large enterprises.
Jordan Vega
Rivian, the electric vehicle (EV) manufacturer, has appointed Aidan Gomez, co-founder and CEO of generative AI startup Cohere, to its board of directors, according to a recent regulatory filing. This strategic move signals Rivian's intent to leverage AI expertise to drive its software ambitions and position itself as a leader in the automotive industry.
Gomez, a renowned data scientist and AI expert, brings a wealth of experience to Rivian's board. Prior to founding Cohere in 2019, he was a researcher at Google Brain, the deep learning division led by Nobel Prize winner Geoffrey Hinton. Gomez is also credited with co-authoring the influential 2017 technical paper "Attention Is All You Need," which laid the foundation for many of today's most capable generative AI models.
Cohere, which sells its AI foundation model training services to companies like Oracle and Notion, has established itself as a key player in the generative AI space. Gomez's appointment to Rivian's board suggests that the EV maker is keen to tap into his expertise to accelerate its software development and integration efforts.
Rivian's software ambitions are already evident in its $5.8 billion joint venture with Volkswagen Group to develop software for the automotive industry. Under this partnership, Rivian will share its electrical architecture expertise with Volkswagen Group's various brands and license existing intellectual property rights to the joint venture. The potential for this joint venture to sell its technology to other companies in the future adds another layer of significance to Gomez's appointment.
In addition to the joint venture, Rivian has been working on an AI assistant for its EVs since 2023. According to Rivian's chief software officer, Wassym Bensaid, the AI work focuses on the orchestration layer or framework for the assistant, which operates outside the joint venture with Volkswagen Group. Gomez's expertise in AI and data science will likely be instrumental in shaping this project's development.
Rivian founder and CEO RJ Scaringe welcomed Gomez to the board, highlighting the value his "thinking and expertise" will bring to the company as it integrates cutting-edge technologies into its products, services, and manufacturing processes. This move underscores Rivian's commitment to staying at the forefront of the automotive industry's technological evolution.
As Rivian continues to navigate the rapidly changing landscape of electric vehicles and software development, Gomez's appointment is a clear indication of the company's intent to drive innovation and growth through strategic partnerships and expert talent acquisition. With Gomez on board, Rivian is poised to make significant strides in AI integration, software leadership, and ultimately, shaping the future of the automotive industry.
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