Key Takeaways

Amazon (AMZN) became the latest big tech firm to go all-in onartificial intelligence (AI). The company announced that it is offering new AI language models through itsAmazon Web Services (AWS)cloud platform. Called Amazon Bedrock, the product will allow customers to boost their software with AI systems that create text, similar to OpenAI'sChatGPTchatbot.

Swami Sivasubramanian, vice president of Data and Machine Learning at AWS, said that Amazon's mission "is to make it possible for developers of all skill levels and for organizations of all sizes to innovate using generative AI." He indicated that this is just the beginning of what the company believes "will be the next wave of machine learning."

The competition in the AI field is heating up. In March, OpenAI released its latest version of ChatGPT, and Meta Platforms (META), Microsoft (MSFT), and Alphabet's (GOOGL) Google all recently introduced their moves into the sector.

Sivasubramanian added that "we are truly at an exciting inflection point in the widespread adoption of machine learning" and that most customer experiences and applications "will be reinvented with generative AI."

The news helped lift Amazon shares 4.7% on April 13.

Read more:

Amazon Joins the Rush Into Artificial Intelligence - Investopedia