Google Cloud has launched two generative AI models on its Vertex AI platform, Veo and Imagen 3, amid reports of surging revenue growth among enterprises leveraging the technology.
According to Google Cloud’s data, 86% of enterprise companies currently using generative AI in production environments have witnessed increased revenue, with an estimated average growth of 6%.
This metric has driven the tech giant’s latest innovation push, resulting in the introduction of Veo – its most sophisticated video generation model to date – and Imagen 3, an advanced text-to-image generation system.
Breaking ground
Veo, now available in private preview on Vertex AI, represents a milestone as Google becomes the first hyperscaler to offer an image-to-video model. The technology enables businesses to generate high-quality videos from simple text or image prompts, potentially revolutionising video production workflows across industries.