In Melbourne, Australia, on May 22, 2024, the InnovateGPT Group made a significant investment of 5.1 million Australian dollars in a generative AI startup called Space GPT. This startup aims to redefine spatial environments in various sectors such as architecture, construction, education, healthcare, and retail. InnovateGPT CEO George Stavrakakis and CTO Ruperto Walsh have more than 40 years of combined experience in executive positions at Microsoft in Australia.
The partnership with Space GPT is part of InnovateGPT’s strategy to nurture and launch AI startups. In its first year of operation, the company has incubated and launched 13 AI startups and invested a total of 15 million dollars in its portfolio. The appointment of Robert Marolda as CEO of Space GPT underscores his 9+ years of experience at Microsoft in Modern Work and Security, highlighting his leadership skills for future expansion.
Space GPT is leveraging technologies like Microsoft Azure OpenAI Service, Microsoft Copilot, Apple Vision Pro, and JigSpace to create AI-powered solutions that will transform how spaces are built, managed, and used. The solutions aim to increase operational efficiency, accuracy, and cost optimization in various industries.
Initially focusing on the construction industry, which represents around 10% of Australia’s GDP, Space GPT plans to offer AI-powered co-pilot solutions to optimize construction workflows. The company will later expand into education, healthcare, and retail sectors, reinventing space environments in these critical industries.
George Stavrakakis, CEO of InnovateGPT, highlighted the potential for positive change in the construction sector and the opportunities for innovation within the industry. Robert Marolda, CEO of Space GPT, emphasized the company’s commitment to innovation and partnership to lead transformative change across multiple industries.
Microsoft Australia and New Zealand’s Software as a Service Partnership Leader, Matt Furse, expressed excitement about partnering with Space GPT to unlock the potential of generative AI in critical sectors. Space GPT is focused on revolutionizing space environments through generative AI and spatial computing to deliver efficient and immersive experiences.
Overall, InnovateGPT Group and Space GPT are at the forefront of reshaping traditional industries with innovative AI solutions. Through strategic partnerships and a focus on technological excellence, Space GPT aims to drive industry transformation and create a more connected world using generative AI technologies.
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https://finance.yahoo.com/news/ex-microsoft-execs-launch-generative-010000839.html