DeepMind's 2022 financials reveal 39% cut in staff costs, 40% profit decrease
Alphabet's AI lab Deepmind cut employee costs by 39% in 2022, according to a filing with the UK government, with staff costs falling from nearly $1.2 billion in 2021 to nearly $731 million. This was accompanied by a more than 40% drop in profits over the same period, from nearly $126 million in 2021 to nearly $74.9 million in 2022. To further improve efficiency, Alphabet merged its Google and Deepmind AI divisions in April 2023 to better share knowledge and computing resources. Google Deepmind's answer to OpenAI's GPT-4, Gemini, is expected to be released later this year.
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