Amazon initially ventured into the realm of accelerator programs in 2016, aiming to assist early-stage startups in the development and launch of conversational AI. Seven years later, Amazon Web Services (AWS) leads a new AI accelerator with a focus on the latest trend: generative artificial intelligence.
AWS has introduced a 10-week program for generative AI startups worldwide. Founders participating in the cohort can expect access to AI models, tools, machine learning stack optimization, and customized go-to-market advice, culminating in a Demo Day in San Francisco.
Accepted startups will be eligible for up to $300,000 in AWS credits to support their business growth. Applications are open for the next two weeks, with 10 startups set to be selected, according to the company.
AWS has no plans to invest in the startups and currently does not have an AI/ML investment arm, as reported by TechCrunch. Amazon’s approach to AI has been more cautious than other tech giants, particularly when it comes to generative AI initiatives like Google’s Bard and Microsoft’s ChatGPT. Apple is also exploring language-learning models, but it remains uncertain whether it will develop its own or seek external sources. Nevertheless, Amazon has forged partnerships with leading AI companies such as Hugging Face and Stability AI, the latter of which has named AWS as the “preferred cloud provider to build and scale its AI models for image, language, audio, video, and 3D content generation.”
Evidently, corporations are competing to incorporate artificial intelligence, whether through direct integrations, in-house product development, or exposure via investments and startups. Just last month, Salesforce unveiled a new $250 million investment fund targeting generative AI startups.
