Amazon has recently launched a new accelerator program to help generative artificial intelligence (AI) startups from around the world.
TechCrunch tells us in a report that Amazon Web Services will lead the 10-week program, which will provide founders with access to AI models, machine learning stack optimization, customized go-to-market advice, and $300,000 in AWS credits.
A Demo Day will be held in San Francisco at the end of the program. You can read more about the Amazon program here.
AWS's Focus on Generative Technology
While AWS welcomes all startups, Howard Wright, the company's Global Head of Startups, affirms that those who have developed a minimum viable product, gained traction with customers, are working on refining product value propositions, and are already building on AWS are likely to derive the most benefits.
Although AWS does not invest in startups and does not currently have an AI/ML investment division, accepted applicants will receive up to $300,000 in AWS credits to help build their businesses and other packages.
AWS' focus on generative AI is because the technology has unlocked new developments and creativity, according to Rob Ferguson, AWS' Global Head of AI/ML Startups.
Ferguson told TechCrunch that the technologies of artificial intelligence and machine learning are among the most significant ones of our time, and Amazon has been heavily invested in them for over two decades. He also mentioned that the company is eager to explore new developments that cloud technology can support.
According to Statista, Amazon is one of the largest hyper-scale cloud providers, alongside Microsoft Azure, Google Cloud, and Alibaba. Hyperscalers outperform other players regarding technological advancement, revenue generation, global reach, and qualifications.
AWS provides a wide range of cloud-based services, including databases, analytics, management tools, security, IoT, enterprise applications, and developer tools.
Tapping AI Developers
AWS' generative AI approach involves investing and innovating across three layers of the generative AI stack to make the technology available to customers of any size and developers of all skill levels.
The startups accepted into the program will have the opportunity to build and launch their companies with the help of AI models and tools, machine learning stack optimization, and custom go-to-market advice.
The program is open for applications for the next two weeks, and ten startups will be chosen to participate.
This initiative is expected to generate fresh value propositions for customers by fueling the development of new AI-based technologies, ultimately transforming how we live and work.
Amazon has been at the forefront of AI and machine learning development for over two decades, investing heavily in these technologies.
AWS has been a key player in providing cloud-based AI solutions to organizations worldwide, allowing them to harness the power of AI and machine learning to drive business growth and innovation.
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