NEWS
2024/06/27
alt.ai establish JV "LUVO Inc." with Caster on September 1, 2024
Aiming to improve productivity through product development and service operation utilizing generative AI
alt Inc. (https://dev-corporate-web.poc-dev.com/en/), the Japan-based developer and distributor of Personal Artificial Intelligence (P.A.I.®️) and AI clone technology (head office: Minato-ku, Tokyo; CEO: Kazutaka Yonekura), is pleased to announce the signing of a joint venture (JV) agreement with Caster Co. Ltd. (head office: Saito City, Miyazaki; CEO: Shota Nakagawa), whose mission is to make remote work the norm, on June 27, 2024. The JV company, named LUVO Inc., is scheduled to be established on September 1, 2024.
■Background to the establishment of JV company
As announced in a press release published on May 23, 2024, both alt and Caster have been in discussions and deliberations to form a JV for the purpose of developing products and operating services utilizing generative AI.
The JV company will serve as a foundation for collaboration aimed at improving people's productive labor by combining alt's AI technologies—including deep learning, generative AI, and large language models—with Caster's expertise in the human resources field.
In a Japanese society where the working population is declining, there is an urgent need to address the shortage of workers and to proactively utilize new technologies that will help improve labor productivity. In particular, generative AI is expected to create significant social change by reducing the burden on workers and boosting workers’ productivity.
By leveraging Caster's capabilities in building operations and expanding human resources together with alt's industry-leading P.A.I. technology, LUVO Inc. will create the future of work styles and help resolve Japan’s serious labor shortage.
*For reference: press release announced on May 23, 2024: https://dev-corporate-web.poc-dev.com/news_en/news_en-2726/
■Overview of the JV
Company name: LUVO Inc.
Address: to be decided
Representative: CEO Masahiro Inumaki
Established: September 1, 2024
Business: Product development and service operation utilizing generative AI
Investment ratio: Caster 100%
■Business summary
LUVO Inc. will primarily develop the following three businesses. In the future, by focusing on the annotation business, we will further accelerate the utilization of Caster's remote human resources and promote the creation of a foundation for the development of productive human labor.
1. Annotation Business
Annotation refers to the process of adding semantic information like tags and metadata to data such as images, text, and audio in order to make AI learn. In the Annotation Business, LUVO will provide a platform for enhancing AI agents through customization with personal data, as well as create training data for AI development.
2. AI Agent Contract Development Business
Among the codes or mechanisms that act to achieve predetermined goals, we will undertake contracted development of AI agents that can be made autonomous to a certain degree by utilizing AI that can replace humans.
3. AI Agent Dispatch Business
We will develop and dispatch AI agents for in-house use that support and replace human tasks.
■The thoughts behind the JV's name "LUVO"
The name ‘LUVO’ was created through dialogue with a generative AI, based on the idea of incorporating into the company name an attitude of valuing human-like thinking while placing importance on harmony with AI. The name, which sounds familiar and memorable, can mean love, depending on the interpretation, or, in Xhosa language, opinion or thought. It also contains the initials Life, Unique, Valuable, and Overture.
Along with the company name LUVO, we will build a foundation for productive labor based on our thoughts and love as human beings, working in concert with AI in unique and valuable overtures.
▶For inquiries about LHTM-2/LHTM-OPT/GPT and other large language models solutions
https://dev-corporate-web.poc-dev.com/aiprojects/gpt/
■About Caster Co. Ltd.
Caster was founded in September 2014 with the mission of “making remote work the norm” and is itself a fully remote company. We operate human resource businesses, including the CASTER BIZ series of remote assistant services, which is No. 1* in terms of companies using our services, and provide services to a total of more than 4,700 companies. In a society where the working population is declining, our mission is to lift the various “labor biases” associated with work, which have traditionally been viewed as how work should be done.
*In-house research based on a comparison of the number of companies using major remote assistance and online assistance services in Japan (as of February 2024).
■About alt Inc.
Founded in November 2014, alt is a startup that "aims to free people from unproductive labor" by creating P.A.I.®️ (Personal Artificial Intelligence) and AI clones. We also develop and provide various AI products that utilize our variety of foundational AI technologies, including generative AI, a proprietary LLM, and speech recognition technologies. As of April 2024, alt has raised over 10 billion yen.
https://dev-corporate-web.poc-dev.com/en
<Media Inquiries to:>
Misako Nishizawa (Media Relations)
e-mail: press@alt.ai