Details on what precisely Essential plans to do with the money are still sparse, but in a news release the company said it is developing full-stack AI products designed to increase productivity by automating time-consuming and monotonous workflows.With human feedback and technical breakthroughs, Essential AIs LLMs will empower users to solve progressively harder tasks and unlock critical skills, scaling the impact of organizations on society, the company said.The founders of Essential have impressive backgrounds. Ashish Vaswani and Niki Parmar were formerly researchers at Google Brain, where they helped develop the companys Transfomer technoogy, based on a neural network architecture specifically designed for natural language processing (NLP) tasks.Vaswani and Parmar were also recently involved in another AI startup, Adept, which recently raised $350 million in new capital. This ability fosters a collaborative, empowering, and user-centered experience and propels the generative AI frontier forward.Firms such as Adept and Essential are rapidly introducing AI products to the market, driven by the belief that the technology will reduce costs by automating tasks currently performed by humans, said Nico Dekens, the Director of Intelligence Collection and Innovation at ShadowDragon, a threat monitoring and detection company.What also makes them rush is FOMO, said Dekens, who has written about AI-human interaction. He added that just like cloud computing simplified things where they didnt require the expertise of racking and stacking servers. Ultimately, they think the value will be retained by entities with their own R&D, to maintain independence and safeguard their COGS, and to control their accuracy, scale, security, and speed."