Globally, AI investments are projected to hit $200 billion by 2025. Reuters
Globally, AI investments are projected to hit $200 billion by 2025. Reuters
Globally, AI investments are projected to hit $200 billion by 2025. Reuters
Globally, AI investments are projected to hit $200 billion by 2025. Reuters

Amazon Q: AWS launches AI tool to rival ChatGPT and Bard


Alkesh Sharma
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Amazon Web Services has launched a generative artificial intelligence tool as it rivals Google-owned Bard and Microsoft-backed OpenAI in the fast-growing industry.

Amazon Q was announced at AWS’s re:Invent conference in Las Vegas.

It came almost one year after the start-up OpenAI launched its ChatGPT, which gained instant popularity for its use of generative AI, allowing it to produce human-like text in response to minimal input.

Amazon Q is focused on businesses and customers can get “fast, relevant answers to pressing questions, generate content and take actions” based on their information repositories.

It aims to enable employees to streamline tasks, and accelerate decision making and problem solving.

The tool can also customise its interactions with different users based on an “organisation’s existing identities, roles and permissions”, AWS said.

“Amazon Q builds on AWS’s history of taking complex, expensive technologies and making them accessible to customers of all sizes and technical abilities,” said Swami Sivasubramanian, vice president of data and AI at AWS.

“By bringing generative AI to where our customers work … whether they are building on AWS, working with internal data and systems, or using a range of data and business applications … Amazon Q is a powerful addition.”

ChatGPT and Bard are two front-runners in the burgeoning field of generative AI.

In September, the Abu Dhabi government-supported research centre the Technology Innovation Institute launched Falcon 180B – an advanced version of its flagship language model – to boost generative AI in the region.

Investors have put more than $4.2 billion into generative AI start-ups in 2021 and 2022 through 215 deals after interest surged in 2019, recent data from CB Insights showed.

Globally, AI investments are projected to hit $200 billion by 2025 and could possibly have a bigger impact on gross domestic product, Goldman Sachs Economic Research said in a report in August.

Amazon Q’s preview version is available and many of its features are free.

But after the preview period, it will cost $20 a person each month for business users.

AWS chief executive Adam Selipsky said that prompts asked on Amazon Q and business customers’ content will not be used to train any foundation models.

According to the query, Amazon Q will provide concise responses that include citations and source links.

Amazon Q is currently available only for users of Amazon Connect – the company’s cloud contact centre that enables organisations to deliver better customer experiences at lower costs.

It will be soon available on other platforms including Amazon Supply Chain, which allows customers to monitor their supply chains.

“New Amazon Q capabilities help our analysts build dashboards in hours when it used to take days,” said Christoph Albrecht, data engineering and analytics consultant at car maker BMW, one of the early users of Amazon Q.

“We are seeing an even greater impact with our business users, where Amazon Q is accelerating critical business decisions at the highest levels.”

Top investing tips for UAE residents in 2021

Build an emergency fund: Make sure you have enough cash to cover six months of expenses as a buffer against unexpected problems before you begin investing, advises Steve Cronin, the founder of DeadSimpleSaving.com.

Think long-term: When you invest, you need to have a long-term mindset, so don’t worry about momentary ups and downs in the stock market.

Invest worldwide: Diversify your investments globally, ideally by way of a global stock index fund.

Is your money tied up: Avoid anything where you cannot get your money back in full within a month at any time without any penalty.

Skip past the promises: “If an investment product is offering more than 10 per cent return per year, it is either extremely risky or a scam,” Mr Cronin says.

Choose plans with low fees: Make sure that any funds you buy do not charge more than 1 per cent in fees, Mr Cronin says. “If you invest by yourself, you can easily stay below this figure.” Managed funds and commissionable investments often come with higher fees.

Be sceptical about recommendations: If someone suggests an investment to you, ask if they stand to gain, advises Mr Cronin. “If they are receiving commission, they are unlikely to recommend an investment that’s best for you.”

Get financially independent: Mr Cronin advises UAE residents to pursue financial independence. Start with a Google search and improve your knowledge via expat investing websites or Facebook groups such as SimplyFI. 

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Updated: November 30, 2023, 7:02 AM