Amazon allocates $100 million to develop generative AI

The Amazon Web Services (AWS) cloud division of the Amazon corporation founded a $100 million fund to finance its own projects focused on generative artificial intelligence (AI).

According to the statement, the primary aim of the company is to ‘accelerate enterprise development and advance AI technologies.’

The AWS program, titled the Center for Generative AI Innovation, will work with clients on ‘creating bespoke solutions’ under the guidance of strategists, data specialists, engineers and solutions architects.

‘For example, healthcare and life sciences companies may be seeking tools to accelerate research and drug development. Manufacturers may develop solutions to rethink industrial design and processes. Financial services firms may devise ways to improve the personalization of information and recommendations,’ the company said.

Projects will work closely with Amazon experts and their partners. The Center for Generative AI Innovation’s team will provide guidance on applying generative AI and optimizing machine-learning operations to reduce costs.

AWS offers the following tools:

• the AI programming companion Amazon CodeWhisperer;
• a platform for building generative AI applications Amazon Bedrock;
• the Amazon Titan family of foundational models;
• the Amazon SageMaker model builder.

Among AWS customers are Highspot, a sales-productivity company; Lonely Planet, the international travel firm; and data-services provider Twilio.

Amazon also signed an agreement with tech giant Nvidia to build next-generation AI-model training infrastructure based on its own Trainium hardware.

Earlier reports indicated that Google invested $300 million in the AI startup Anthropic. The project attracted another $450 million.

In June, OpenAI established a $1 million grant program in the field of cybersecurity for AI-based technologies.