Amazon has entered the competitive AI race with the launch of Bedrock, a new suite of apps that will allow business to create their own chatbots, text, and images that are based on various prompts. Bedrock is not developed by Amazon itself, but instead provides access to foundational models (FMs) made by leading startups such as AI21, Anthropic and Stability AI. Amazon stated “Applications like ChatGPT and Stable Diffusion have captivated everyone’s attention and imagination and all this excitement is for valid reasons. Amazon Bedrock gives customers the freedom to pick the best model that best fits their specific needs from the leading providers“. This announcement follows Amazon’s promise from CEO Andy Jassy to invest heavily in Generative AI and large language models.
As of Thursday, Wall Street stocks are rebounding with reports on the reduction of producer prices and unemployment claims. This could help the Dow Jones Industrial Average reach around 34,029.69 and cause a surge in the S&P 500 to reach 4,146.22. While the technology intense Nasdaq Composite will also rise to 12,166.27. This situation is due to the weak inflation data which is causing a shift in the Federal Reserve’s previous stance. In the upcoming Friday, large banks such as the ones in Wall Street will be releasing their earnings reports. This will arise an even higher demand towards the Silicon Valley Bank amidst its continuing collapse. Preceding this, Treasury yields lowered just a while before returning to its previous rate with the benchmark 10-year Treasury yield increased to 3.44 percent and the sensitive two-year Treasury rate held steady at 3.97 percent.
The original article briefly mentioned Andy Jassy, the Chief Executive Officer of Amazon. Jassy is an American businessman and has been the Chief Executive Officer of Amazon Web Services since April 2016 and became the CEO of Amazon in February 2021. He has been instrumental in transforming companies’ hosting and cloud services and the development of AI technology throughout his career.
Amazon, founded in 1994, is one of the biggest e-commerce companies in the world, selling everything from books to electronics. It is an American multinational technology company that focuses on e-commerce, cloud computing, digital streaming, and artificial intelligence. Amazon is the largest technology company in terms of market capitalization and net sales. It has gained tremendous success in developing customer insights and innovative technologies that aid customers in improving their experience with its products and services. Amazon has successfully entered the highly competitive AI field with its launch of Bedrock and its plan to invest heavily in Generative AI and large language models.
