LightOn, a pioneering French company in the field of artificial intelligence (AI), is advancing its expansion plans into Europe and the Middle East, targeting sectors that require stringent data protection measures, such as banking, defence, high-tech industries, and healthcare. Laurent Daudet, co-CEO of LightOn, highlighted these sectors as key areas where the company plans to deliver its custom AI models during an interview with Reuters.
The firm recently made headlines by debuting on the Euronext Growth exchange, becoming Europe's first listed generative AI company. This move positions LightOn strategically within a rapidly evolving technology landscape. The company's clientele includes notable organisations such as Safran and the French Space Command, underlining its reputation in high-stakes industries.
As part of its international growth strategy, LightOn is eyeing opportunities in Middle Eastern nations, including Saudi Arabia and the United Arab Emirates, where there is a concerted effort to move towards AI-driven solutions as a means to diversify and reduce reliance on oil revenue. "Being European in this type of geography is interesting," Daudet remarked, suggesting that the company's status could allow it to maintain a neutral standing amidst the competitive dynamics between major global players, notably the United States and China.
LightOn’s partner, telecommunications giant Orange, has also recognised the demand for AI solutions perceived as trustworthy by customers in France. Steve Jarrett, Chief of AI at Orange, stated, “Either they have particular governmental regulation restrictions, or they made their own business decision and would rather have the AI models running in an Orange data centre as opposed to a public cloud.” This sentiment reflects a broader trend among businesses prioritising data sovereignty and security.
Despite the promising prospects, LightOn faces stiff competition from industry leaders like OpenAI, Anthropic, and Mistral. Daudet acknowledged this challenge, indicating that the company is proactively seeking international distribution partnerships to bolster its market presence.
With the evolution of AI technology, companies like LightOn are working to carve out a significant role in an increasingly competitive landscape, aiming to provide innovative solutions tailored to the nuanced needs of various sectors across Europe and the Middle East.
Source: Noah Wire Services