SqueezeBits Introduces AI Model Compression SaaS Toolkit That They are Developing… “Aims to Target Global Market with Big Demand!”

Provided By – SqueezeBits

SqueezeBits Inc. (CEO Hyungjun Kim) attended ‘COMEUP 2022’, which was held in Dongdaemun Design Plaza (DDP) in Seoul for 3 days between November 9th(Wed) and 11th(Fri) and introduced the AI model compression toolkit that they are currently developing independently.

SqueezeBits is a startup that was established in March 2022 by a team who had been researching AI compression technology for 6 years at POSTECH. They have proven their expertise with their presentations on compression technology every year in globally authoritative academic conferences in the field of AI, such as NeurIPS, ICLR, and CVPR. They have also succeeded in attracting seed investment from Naver and POSTECH Holdings soon after their establishment.

They are now in the midst of conducting PoC with AI startups and Naver Clova, and it has been said that they are preparing for the launch of their SaaS compression toolkit that helps quickly and easily compress AI models.

SqeezeBits’ AI model compression SaaS toolkit is a software that helps people without prior expertise to apply and test out related technology and was developed based on AI model quantization technology. It is characterized by its provision of 3 core functions, which are △AI model visualization, △AI model quantization, △ and a comparative analysis of the accuracy and speed of compressed models.

When the user uploads an AI model, it shows the user how the model is composed through a graph, and it is possible to select a specific part to compress. It can currently be compressed through quantization methods, and there are plans to add various other compression functions in the future.

Their quantization method is a method that simplifies data used in AI models into a simpler format like 8-bit instead of 32-bit, and one can expect reduction in AI model memory usage and faster calculation speeds.

A spokesman for SqueezeBits said that, “The most surprising thing we found out as we verified our technical capabilities, which we accumulated over a long time of doing research, was that more teams than you’d expect service AI models without even trying even the simplest attempts at compressing them,” and “They’d obviously require a compression expert for optimization through extreme compression, but even though there were various compression toolkits on the market, most were unable to utilize these.”

Provided By – SqueezeBits

They then went on to explain the background of their service development, saying, “That’s why our company thought that there was a need to create a toolkit that allows people to easily try compression and helps them understand the process, even if they aren’t compression experts.”

SqueezeBits’ compression toolkit is soon to be revealed and released, and the company says they are preparing to officially launch the toolkit in the first half of next year. A spokesman of the company shared their future plans, saying, “We will launch the toolkit after improving the product through our clients who are currently collaborating on the PoC, and making it easier for users to use.” They then went on to say, “The compression needs of each company varies wildly. That’s why our company has a deep history of studying compression, and we plan to quickly target the global market where the there is a big demand.”

Having its 4th iteration this year, ‘COMEUP 2022’ was hosted by the Ministry of SMEs and Startups (Minister Young Lee) and organized by the Korea Startup Forum (Chairman Jaewook Park). Startups, investors, and people related to startups from over 15 countries attended, and this year in particular was the start of COMEUP’s rebranding from the previous government-private collaboration to the private-led event that it is now, as it aims to become a global Top 5 startup event. With the slogan of ‘WE MOVE THE WORLD’, the event was conducted both on and offline, and had various programs like Academic Conferences (Conference), Open Innovation Strategy of Global Companies (Open Innovation), COMEUP Stars Company Introduction (IR) and Booth Exhibitions, and Business Matching (Biz Matching).