Amazon is developing Olympus, a groundbreaking AI model capable of processing text, images, and videos, to enhance AWS offerings, reduce reliance on Anthropic and compete with AI leaders like Google and Microsoft. (Source: Image by RR)

AWS Prepares to Showcase Game-Changing AI Model at re:Invent Conference

Amazon has reportedly developed a new generative AI model, codenamed Olympus, capable of processing text, images and videos, marking a significant step toward reducing its reliance on external AI providers like Anthropic. The new model, as reported by The Information, will enable users to search for specific scenes in images and videos, such as a winning basketball shot, using simple text prompts. This advancement, as reported in finance.yahoo.com, signals Amazon’s push to innovate and strengthen its generative AI offerings, particularly within its cloud computing division, Amazon Web Services (AWS).

The development of Olympus comes as Amazon seeks to position itself as a major player in the competitive generative AI space, where rivals like Google, Microsoft and OpenAI have gained considerable ground. The new large language model (LLM) is expected to diversify AWS’s AI capabilities beyond the widely used Claude chatbot developed by Anthropic, in which Amazon has invested heavily. Just last week, Amazon committed an additional $4 billion to Anthropic, following a similar investment made in September 2023, signaling its strategic focus on generative AI technology.

Olympus is expected to be unveiled at Amazon’s annual AWS re:Invent customer conference, potentially as soon as next week, highlighting the company’s commitment to showcasing its advancements in AI and cloud-based solutions. By integrating text, image, and video comprehension into one model, Olympus aims to cater to a broad range of applications, such as e-commerce, media analysis and content creation, further solidifying AWS’s position as a leading cloud platform for AI innovations.

Amazon’s development of Olympus also reflects its efforts to counter the narrative that it has fallen behind competitors like Microsoft, Google and OpenAI in the AI race. With this new model, Amazon is doubling down on its capabilities in generative AI, aiming to reclaim its status as an innovator in the field. However, Amazon has not yet commented on the report, leaving the industry eager for confirmation and details at the anticipated announcement.

read more at finance.yahoo.com