AI research in Europe takes major leap forward with launch of new innovation hub

AI research in Europe takes major leap forward with launch of new innovation hub

A new hub for Artificial Intelligence (AI) research and product development has been launched in the heart of Europe, laying the foundation for European AI applications on a competitive, global level.  

NXAI GmbH was founded in December 2023 by AI researcher, Sepp Hochreiter, company builder, Netural X GmbH and PIERER Digital Holding, in close collaboration with the Johannes Kepler University in Linz and its leading research centre, LIT AI Lab, at the Linz Institute of Technology. NXAI will forge ahead with cutting-edge technological research into Large Language Models (LLMs), particularly the xLSTM algorithm developed by Hochreiter.  

Initial results show that xLSTM works more efficiently (with less computing capacity), faster and, above all, with higher accuracy rates than previous LLMs. In particular, xLSTM understands the semantics of texts better than previous LLMs and can understand and generate complicated texts. In addition, NXAI will be researching world-class algorithmic methods in the field of deep learning, for example, to accelerate simulations of complex dynamic systems.  

Setting a new standard in AI language processing 

AI mastermind, Sepp Hochreiter, laid the foundations back in 1991 and invented LSTM (Long Short Term Memory) technology. In doing so, he paved the way for AI as we see it today. The technology was the leading method in speech processing and text analysis until 2017 and has been used billions of times in Smartphones to date.

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