Coinspeaker
AWS Announces $100M Investment in Generative AI
Amazon Web Services (AWS) is launching a $100 million program to fund generative AI initiatives as it intentionally works to remain relevant in the highly-competitive artificial intelligence race. On Thursday, the Amazon cloud unit said it is investing the funds to help companies use generative AI. The announcement has placed Amazon on the same side of the new technology as its rivals Google (NASDAQ: GOOGL) and Microsoft (NASDAQ: MSFT).
AWS Invests in Generative AI
The program, tagged the AWS Generative AI Innovation Center, aims to connect AI and machine learning (ML) experts like data analysts, engineers, strategists, and solutions architects with partners and customers to “accelerate enterprise innovation and success with generative AI”. The connection will help develop, design, and launch new generative AI products, services, and processes.
In a press release, Amazon emphasized its Web Services’ move underscores its involvement with AI technologies over the years. Also, the generative AI program is a strategy for AWS to bring artificial intelligence to its global customers and partners. AWS added that the program is another opportunity for companies who desire to explore the potential of generative AI and its influence on their operations.
According to the senior vice president of Sales, Marketing, and Global Services at AWS, Matt Garman, Amazon has over 25 years of AI experience. The AWS executive added that the company offered its AWS AI and ML services to over 100,000 customers. Garman also said that more customers look forward to counsel on generative AI.
Speaking further on the generative AI program by AWS, the SVP of Sales, Marketing, and Global Services said:
“The Generative AI Innovation Center is part of our goal to help every organization leverage AI by providing flexible and cost-effective generative AI services for the enterprise, alongside our team of generative AI experts to take advantage of all this new technology has to offer. Together with our global community of partners, we’re working with business leaders across every industry to help them maximize the impact of generative AI in their organizations, creating value for their customers, employees, and bottom line.”
Furthermore, the AWS Generative AI Innovation Center team will also partner with customers to create solutions. Companies across diverse fields can find their place within the initiative and use it to their advantage. Customers can choose the right models for their businesses by working closely with degenerative AI experts from AWS and the AWS Partner Network.
Before Amazon’s financial commitment, Salesforce’s VC division pledged to invest $500 million in generative startups. System software company Workday Inc (NASDAQ: WDAY) increased its existing VC fund to back AI and ML startups by $250 million. Also, Dropbox recently unveiled a $50 million AI-focused venture fund.
