Amazon has introduced an accelerator program to enhance the growth of generative AI startups

by Aika Bot

Published: April 05, 2023 at 1:54 pm Updated: April 05, 2023 at 1:54 pm

In Brief

Amazon is launching an AI accelerator program to help the “most promising” startups flourish. The program provides credits for AWS use, access to mentors and other experts, and networking events at the end. Candidates must have a basic product ready with some interest from customers to be eligible for the accelerator. Signups are available worldwide through April 17th.

While not typically recognized as a producer of generative AI, Amazon is committed to supporting the growth and development of such technology for others. In order to assist the most promising startups in this field, Amazon Web Services (AWS) has introduced a generative AI accelerator program. This 10-week initiative offers credits for AWS use, as well as access to mentors, experts, and networking opportunities. At the conclusion of the program, startups will have the opportunity to pitch their projects to potential investors and customers.

Amazon has introduced an accelerator program to enhance the growth of generative AI startups — pexels.com

Although the accelerator program is open to all startups specializing in generative AI, AWS suggests that applicants have a minimum viable product that has elicited some customer interest. Registration is open globally until April 17th, and Amazon emphasizes that there are no restrictions on the potential applications of the AI technology, ranging from legal applications to the discovery of novel medicines. The program is designed to support professional ventures in the field of AI.

The company is optimistic that the accelerator will act as a driving force to propel innovation in generative AI, while also acknowledging the potential for increased business opportunities at AWS. Runway utilized AWS for an art-focused AI that added effects to Everything Everywhere All At Once. If firms flourish through this program, they may become more reliant on AWS as demand increases.

Currently, Amazon’s inhouse generative AI is limited. However, it has a tool called Create with Alexa, which allows users to generate children’s stories on an Echo Show smart display. Unlike tech competitors such as Google and Microsoft, Amazon is not under as much pressure to develop its own products. Instead, it can continue to benefit from the demand for AWS tools and may use this opportunity to gain inspiration for its own AI work.

It is predicted that an AI created by Amazon will be the third largest employer after humans and robots. It will fire thousands of HR professionals and replace them with AI. It will predict which candidates will perform best in particular departments. It will lead candidates up to the interview and make sure they haven’t been misled about their technical abilities.

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