Generative AI has seamlessly integrated itself into the fabric of enterprise technology landscapes since its debut in late 2022. Initially celebrated for its prowess in generating intricate textual content, the scope of this technology has expanded far beyond the confines of natural language. Now, an exciting new chapter in the saga of generative AI unfolds with the emergence of multimodal models. These cutting-edge models transcend the limitations of textual data alone, venturing into a realm where they can adeptly process images and various other data modalities concurrently. In this evolutionary leap, these models seamlessly amalgamate disparate streams of information, mirroring the multifaceted processing abilities inherent in human cognition.

Multimodal Models: A Brief Overview

Multimodal models represent a breakthrough in machine learning (ML), capable of seamlessly processing information from diverse data modalities such as images, videos, and text. Unlike traditional unimodal systems, which focus solely on one type of data source, multimodal AI endeavors to transcend these limitations. While models operating across different data modalities have existed previously, they often functioned in a unidirectional manner, designed for specific tasks like converting speech to text or text to image. However, the contemporary approach to multimodal AI extends far beyond these constraints. By assimilating contextual cues and supplementary information necessary for precise predictions, it furnishes a comprehensive and nuanced comprehension of data.    

Multimodal AI has been steadily emerging in the last couple of years and It is expected to outpace unimodal AI models in coming years.

   

Market Size and Outlook 

The rapid adoption of multimodal AI, is driving market growth at an unprecedented pace. According to market research firm Markets & Markets, the market for multimodal AI is estimated to grow from $1B in 2023 to $4.5B by 2028, representing  CAGR of 35%,  during 2023-28.

 

Unleashing Potential: Use Cases for Enterprises

Multimodal AI can mimic the complexity of human perception and communication, by integrating various modes of sensory input such as text, speech, images and even gestures. This advancement opens up a plethora of possibilities for enterprises across industries, Here’s a glimpse of what can be achieved.

Empower Your AI Journey with Blackstraw’s Multimodal AI Framework

At Blackstraw, we understand the transformative power of multimodal AI and are dedicated to helping businesses unlock its full potential. We have developed a Framework for rapid experimentation and deployment of Multimodal AI solutions that leverage several proprietary Data and AI assets across Computer Vision, Predictive and LLM technologies. Blackstraw’s Multimodal Framework provides

• Ready to use, highly accurate fine-tuned Models for data extraction from Unstructured Documents like Receipts, Invoice, Email Invoices, Hand-written Timecards, Product Images & Labels. 
• Support on the Retrieval Augmented Generation (RAG) pipeline to expand the insights retrieval from Tables and Images present in content.
• Proprietary Agent Orchestration architecture enabling Applications to combine the power of insights from Structured and Unstructured data in a single inference cycle. 

Discover how we leveraged our Multimodal Framework along with deep expertise in text, image and video based deep learning techniques, to 

• Optimize the matching process for Staffing firms by 5X times while matching 1000s of Jobs posted everyday against a pool of 100K+ candidates.
• Extract Job Order for Healthcare staffing in real time and enrich using LLMs and ML before funneling them to the Fulfillment systems.
• Achieve unprecedented accuracy and productivity gains, surpassing limitations of image-based methods to parse 1.5 million email orders per day from 1000+ ecommerce retailers for 64 different fields.
• Automate creation of Product claim bank for CPG by extracting Product information such as Nutritional, Ingredients, Claims, Sustainability and Credibility  from Product Labels with over 90% accuracy
• Automate 95% of manual data entry across global retailers from millions of receipts in multiple languages worldwide                                                          

Whether you’re looking to streamline operations, improve decision-making, or create personalized content at scale, our tailored AI solutions are designed to meet your unique needs and objectives. Partner with Blackstraw, to embark on a journey of innovation and growth, powered by the limitless possibilities of multimodal AI