AWS opened an accelerator program for generative AI startups Here’s what to know
“AI at this point in time demands massive scale in terms of the data that is available to create artificial intelligence elements, such as, most commonly, models that you feed in something and get something out,” Andrews said. Also, AWS data scientists will work with customers to build new products, scale them and then put them into action. 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. $300k in AWS credits can be very significant for AI startups, as computational demands for training and inference in AI is incredibly high. AWS cloud computing credits offset these costs, making it easier for startups to develop and scale their AI models.
COVID-19 and the IT Industry
The open letter signatories say AI labs and independent experts should pause AI advancement to jointly develop and implement a set of shared safety protocols for advanced AI design and development that are rigorously audited and overseen by independent outside experts. Any data, text, or other content on this page is provided as general market information and not as investment advice. Google has not made an announcement yet, which is surprising since CEO Sundar Pichai declared a Code Red earlier this year to prioritize Google’s AI capabilities. Hackers can find an entry point into your company’s digital spaces through your employees.
FinTech Magazine and its entire portfolio is now an established and trusted voice on all things FinTech, engaging with a highly targeted audience of 113,000 global executives. We provide key industry players with the perfect platform to showcase their brands, develop content syndication plans, webinars, white papers, demand generation as well as a global set of events (In-Person & Virtual). A six-week programme, AWS’ latest venture will focus on scaling fintech startups leveraging AI/ML in its solutions.
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To fully benefit from the program, startups should have a minimal viable product (MVP) already developed, some traction with customers, and be working to enhance their product value proposition in order to scale. Although the program is open to all startups, those already building on AWS will receive the most benefit from the accelerator’s dedicated Yakov Livshits AWS Solutions Architect team, who will support every step of their product development. The program is open to companies around the globe, with no limitations around use case—we want to empower companies applying generative AI to solutions from legal and marketing, to software engineering, green energy, and life sciences, including drug discovery.
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Ordaos, a drug design company, was selected for the AWS Generative AI Accelerator. TechCrunch+ is our membership program that helps founders and startup teams get ahead of the pack. To demonstrate the development and progress of its AI accelerator, the company has scheduled a kick-off event in the San Francisco Bay Area in the US on May 24 and 25, and a Demo day on July 26 and 27. He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
Yakov Livshits
Founder of the DevEducation project
A prolific businessman and investor, and the founder of several large companies in Israel, the USA and the UAE, Yakov’s corporation comprises over 2,000 employees all over the world. He graduated from the University of Oxford in the UK and Technion in Israel, before moving on to study complex systems science at NECSI in the USA. Yakov has a Masters in Software Development.
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In the fast-paced tech industry, a small startup can quickly grow into a large company with a substantial cloud budget. That’s particularly true in growth markets that are drawing significant amounts of venture capital. Applications for the AWS Generative AI Accelerator, as the program is called, opened today. The program is geared toward startups that have a minimal viable product, are seeing at least “some” traction with customers, and plan to scale up their business operations. In addition to its creative potential, generative AI has numerous practical applications.
The AWS Generative AI Accelerator will last for 10 weeks, giving startups the resources and mentoring to build their products before putting them in contact with investors and customers. The AWS Generative AI Accelerator is open to any startup from anywhere in the world, but those companies that are already building their technology on AWS will reap the greatest benefits from the program. Generative AI—including tools like ChatGPT or Midjourney—is a subset of artificial intelligence which, instead of learning to classify data or predict outcomes, is capable of generating new content. This cutting-edge AI can augment human productivity and creativity by churning out designs, ideas, and solutions that were previously inconceivable. In an announcement, AWS stated generative AI startups within the cohort can expect to have acccess to AI models and tools as well as machine learning stack optimisation and custome go-to-market advice.
What are the applications of generative AI?
The timing of this fund follows an AWS 10-week program for generative AI startups and the launch of Bedrock, a platform for building generative AI-powered apps. In collaboration with Nvidia, AWS aims to construct “next-generation” infrastructure for training AI models, supplementing its in-house Trainium hardware. It just announced plans to invest $100M to help companies make use of genAI and also recently launched a 10-week accelerator program focused on supporting generative AI startups. To aid in the development of their AI services and solutions, chosen firms will get up to $300,000 in AWS credits.
It is like a creative powerhouse that can generate all sorts of things – from artwork to music, and even entire conversations! It’s like having an infinite number of virtual artists at your fingertips, ready to create on command. InBusiness PHX
KORE Power, Inc. will use ENTEK lithium separators manufactured in Terra Haute, Indiana in the battery cells that the company produces at the Arizona KOREPlex, according to a supply agreement announced Tuesday. The call for applicants came at a time when venture capital spending had tightened. The total number of late-stage deals fell for the seventh straight quarter and the volume of angel and seed-stage deals hit a 10-quarter low, during the first three months of the year, according to PitchBook data. The chosen 10 will embark on the program from May 24 to July 27, 2023, which will mainly take place online.
ChatGPT started the generative AI craze late last year, giving Microsoft a lead in the cloud AI space thanks to its huge investment in OpenAI. The launch comes just days after some 7,344 people — including major industry figures Elon Musk and Steve Wozniak — signed an open letter to Pause Giant AI Experiments, as detailed in the Virtualization & Cloud Review article, “Commercial AI Pushes Receiving More Blowback.” Just to give you an idea of scale, Nvidia is the market leader in GPUs, and Facebook announced in 2022 that they were procuring 16,000 Nvidia A100 GPUs to train their AI models.
- The AWS Generative AI Accelerator is open to all startups from around the world, but the companies already building their tech on AWS will receive the most benefit from the program.
- A collaboration of the Dallas Regional Chamber and Dallas Next, Dallas Innovates is an online news platform covering what’s new + next in Dallas – Fort Worth innovation.
- At the same time, it’s not subtle about the potential for increased business at AWS.
- Tech startups will play an important role in bringing this technology into the mainstream.
