In recent years, we’ve entered an AI summer, characterized by soaring investments, insatiable demand for compute power, and widespread enthusiasm for AI-driven technologies such as ChatGPT, GitHub Copilot, and MidJourney. As we stand on the brink of the next wave of AI advancements—featuring AI agents, co-pilots, and AI-powered process automation—the success of these advances hinges on developing safe, efficient, and highly capable AI components. In this talk, we will explore the next wave of AI and how open innovation in models, datasets, libraries, and research serves as a critical cornerstone for this progress. By leveraging open innovation, we can provide the foundation necessary to achieve these ambitious goals and propel the next wave of AI forward.