Dataiku Launches GenAI Real-Time Cost Monitoring Solution

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The transformative power of GenAI is undeniable and this is evident in the unprecedented hype it has created. However, organizations have to be mindful of the associated costs of harnessing the power of large language models (LLMs). The cost of GenAI is an integral part of the entire process of executing an enterprise GenAI strategy. 

To help make it easier for organizations to gain real-time oversight of their spending, Dataiku has launched a dedicated GenAI cost monitoring solution – LLM Cost Guard. The New York-based company is known for its data science and machine learning platform. 

The LLM Cost Guard, which will be a component of the Dataiku LLM Mesh, will empower organizations to gain a deeper understanding and management of the associated costs of GenAI deployment. It is designed to track and optimize GenAI use cases across the enterprise. Not only does this allow for improved tracking, but it also helps organizations anticipate GenAI costs. 

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Users can dig into costs at a granular level for a comprehensive understanding of which LLM use cases are driving costs. In addition, users get to choose from any LLM provider including Google Cloud Platform, Databricks, Anthropic, OpenAI, Microsoft Azure, Cohere., Amazon Web Services,  and AI21 Labs. 

“AI is a critical strategy for every enterprise’s innovation and growth, yet we constantly hear business leaders’ concerns not only about the potential costs of Generative AI projects but the inherent variability of that cost,” said Florian Douetteau, co-founder and CEO, Dataiku.

He further added  “With LLM Cost Guard, we’re aiming to demystify these expenses. IT leaders will now not only have controlled, governed LLM access within the Dataiku LLM Mesh, but detailed, real-time control over spend, so that they can focus their time on building and innovating. By distinguishing between various costs and setting early warnings, we empower leaders to move forward with their Generative AI initiatives confidently.”

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The potential of GenAI has resulted in massive growth of the GenAI market, and it is expected to continue growing. Cognizant expects the technology to inject over $1 trillion into the U.S. economy. While concerns about the lack of AI skills, government regulations, and data security risks have been highlighted in several studies, the costs of GenAI have been largely overlooked. 

According to a study by Forrester, spending on GenAI is expected to grow 36 percent annually. This means that there has been solid justification in terms of ROI for investing in GenAI initiatives. LLM Cost Guard can play a key role in helping organizations determine the ROI of their GenAI initiatives. This will help promote sustainable growth with better visibility of GenAI costs. 

With the LLM Cost Guard, organizations can tag and track specific LLM expenditures and differentiate between the costs of production and development. In addition, users can set up warning systems in the platform to alert them if there is governance failure or financial risk. GenAI costs are also the primary inhibitor of scaling GenAI projects. Now the LLM Cost Guard organization can plan for overruns and other unexpected hurdles. 

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