Amazon is establishing a new program to support customers and partners that are interested in generative AI in order to keep up in the fiercely competitive AI race. According to a press release, Amazon will invest $100 million in a program called the AWS Generative AI Innovation Center to “accelerate enterprise innovation and success with generative AI.” This center will connect AWS-affiliated data scientists, strategists, engineers, and solutions architects with customers and partners.
A subclass of AI, generative AI includes program like ChatGPT and Midjourney that can generate fresh material rather than learn to categorize data or forecast outcomes. Based on previously acquired patterns, it can generate everything from text and graphics to music. Modern artificial intelligence like this may boost work output and innovation by generating concepts humans never would have thought of.
A new analysis by McKinsey estimates that generative AI may boost global GDP by an astounding $4.4 trillion per year. By 2030, the total value of the artificial intelligence business is predicted to soar to a staggering $15.7 trillion.
Through free workshops, engagements and training, AWS will help customers imagine and scope the use cases that will create the greatest value for their businesses, based on best practices and industry expertise.
Amazon wrote in a press release
Customers that have already sought out to AWS with “plans, goals, or requests for assistance” with generative AI will be given first priority by the Generative AI Innovation Center from the outset. Organizations in the banking, insurance, securities, investment, securities brokerage, healthcare, life sciences, media, entertainment, transportation equipment, industrial machinery, energy, utilities, and telecommunications industries would be given priority under the program.
Months after AWS launched a 10-week program for generative AI companies and introduced Bedrock, a platform to develop generative AI-powered applications using pre-trained third- and first-party models, the company opened the Generative AI Innovation Center. In addition to its in-house Trainium hardware, AWS recently stated that it will collaborate with Nvidia to develop “next-generation” infrastructure for training AI models.
Although the market is large and growing, there will be obstacles to overcome. Most cloud customers were still waiting for access to Bedrock six weeks after its introduction, which was met with some initial hiccups. However, it seems that Amazon’s gamble is paying off, since prominent companies like Stability AI and AI21 Labs have opted to use AWS as their cloud provider of choice.
