Amazon Web Services (AWS) has announced the launch of a generative AI accelerator program aimed at nurturing the most promising startups in the field. Spanning ten weeks, the program offers startups AWS credits, access to mentors and experts, as well as networking events. Upon completion, participants will have the opportunity to pitch their work to potential investors and customers.
Although the accelerator is open to all generative AI startups, AWS suggests that candidates have at least a basic product developed, with some existing customer interest. Applications are open worldwide until April 17th, and Amazon emphasizes that the AI’s applications can span various sectors, from legal services to the discovery of new medications.
AWS envisions the accelerator as a “catalyst” for innovation in the generative AI domain. The company also acknowledges the potential for increased business at AWS as a result of this initiative. For example, Runway utilized AWS’s cloud computing platform for an artist-centric AI project that contributed effects to the film Everything Everywhere All At Once. As the participating startups grow, they may become more reliant on AWS services to meet increasing demand.
Currently, Amazon’s in-house generative AI offerings are relatively limited. Its Create with Alexa tool, for example, allows users to generate children’s stories on an Echo Show smart display. However, compared to tech competitors like Google and Microsoft, Amazon faces less pressure to develop its own products in this area. As long as the demand for AWS tools remains strong, the company stands to profit, while potentially finding inspiration for its own AI projects.
By fostering the development of innovative generative AI startups, AWS is creating a mutually beneficial relationship that drives growth and advances the AI industry.
