Amazon Banking on AI, Invests $100M Towards AWS Generative AI Center
- Amazon recently introduced Bedrock, an AI tool that is similar to ChatGPT.
- It is also planning to introduce an AI-powered “search” feature for its e-commerce.
Amazon Web Services (AWS) is spending $100 million on a solution to compete with Microsoft and Google in the field of generative AI. Supposedly, the planned AWS Generative AI Innovation Centre would serve as a conduit between Amazon’s AI and machine learning specialists and customers who want to develop cutting-edge software.
Generative AI is the use of algorithms to generate original media including music, software, art, writing, simulations, and videos. Highspot, Twilio, Ryanair, and Lonely Planet are among the companies Amazon has named as early users of the innovation center. Despite rising competition in the cloud infrastructure industry, the firm plans to increase cloud service sales with the help of its new center.
AI-powered Search Feature
Enterprise expenditure on cloud solutions hit $63 billion globally in the first quarter of 2023, up 20% from the same quarter the previous year, according to a new survey comparing the largest cloud services providers conducted by Synergy Research Group.
Microsoft and Google’s year-over-year growth rates were the highest, with 23% and 10%, respectively, of the global market share. Amazon, the industry frontrunner, maintained its 32% Q1 market share.
Amazon recently introduced Bedrock, an AI tool that enables users to construct their own ChatGPT-like models, as part of its aim to compete with large tech firms. Titan, which will be released soon, will have two new core models created by Amazon ML.
Recent job postings on LinkedIn for AI developers suggest that Amazon is also planning to introduce an AI-powered “search” feature for their e-commerce website, perhaps using a user experience similar to ChatGPT.
Highlighted Crypto News Today:
ChatGPT and Hedera Integration Simplifies Managing Assets
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
