Every November, Amazon.Com, Inc (NASDAQ: AMZN) Amazon Web Services (AWS) hosts re: Inventa major trade show in Las Vegas, attracting thousands of software developers and technology executives.
Traditionally, this event featured the cloud-computing revolution led by Amazon, with AWS executives urging attendees to switch from traditional servers to Amazon’s cloud services. AWS’s success has been remarkable, and it’s on track to earn $90 billion this year, a testament to its dominance in the field, Bloomberg References.
Read also: Amazon’s Cloud and AI Innovations Boosted by Nvidia Partnership, Analyst Predicts Growth
However, the emergence of genetic artificial intelligence (AI) marked a turning point. In November 2022, OpenAI released ChatGPT, demonstrating the capabilities of AI to generate text, images and videos.
Microsoft Corp (NASDAQ: MSFT), in partnership with OpenAI, has incorporated artificial intelligence into its products, including cloud-computing services. Similarly, Alphabet Inc (NASDAQ: GOOG ) (NASDAQ: GOOGL ) Google has begun incorporating genetic artificial intelligence into its offerings. Amazon’s initial efforts in this area seemed less developed in comparison.
At 2023 re: Invent, artificial intelligence was central to Amazon’s product launches and presentations. AWS Chief Adam Selipsky shared the stage with leaders from Nvidia Corp (NASDAQ: NVDA) and Anthropic, highlighting Amazon’s significant investment in artificial intelligence, including key models and a workplace chatbot.
This change indicates Amazon’s urgent need to remain competitive in the rapidly evolving cloud and AI market.
While AWS is still a default choice for many companies modernizing their infrastructure, the rise of genetic AI presents a challenge.
To stay relevant, AWS needs to excel in this area, as Deloitte’s JB McGinnis noted.
At a re: Invent event, AWS took a more humble approach, seeking feedback from startup founders to improve their services.
This change in behavior reflects AWS’s recognition of the need to actively compete in a market where companies like Google are also making significant inroads.
Amazon stock has gained over 79% year-to-date, while Microsoft has gained 56%.
Action Price: Shares of AMZN are trading 0.25% lower at $153.45 at last check on Friday.
Denial of responsibility: This content was created in part with the help of artificial intelligence tools and was reviewed and published by Benzinga editors.
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this article Amazon Raises AI Game at AWS re:Invent to Counter Rise of Microsoft and Google originally appeared on Benzinga.com
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