The report The economic potential of generative AI: The next productivity frontier, published by McKinsey & Company, estimates that generative AI could add an equivalent of $2.6 trillion to $4.4 trillion in value to the global economy. The largest value will be added across four areas: customer operations, marketing andContinue Reading
In the rapidly evolving digital content industry, multilingual accessibility is crucial for global reach and user engagement. 123RF, a leading provider of royalty-free digital content, is an online resource for creative assets, including AI-generated images from text. In 2023, they used Amazon OpenSearch Service to improve discovery of images byContinue Reading
This post is co-written with Deepali Rajale from Karini AI. Karini AI, a leading generative AI foundation platform built on AWS, empowers customers to quickly build secure, high-quality generative AI apps. GenAI is not just a technology; it’s a transformational tool that is changing how businesses use technology. Depending onContinue Reading
As generative AI moves from proofs of concept (POCs) to production, we’re seeing a massive shift in how businesses and consumers interact with data, information—and each other. In what we consider “Act 1” of the generative AI story, we saw previously unimaginable amounts of data and compute create models thatContinue Reading
wellesenterprises/iStock Editorial via Getty Images Archer Daniels Midland (NYSE:ADM) said Friday its previously planned joint ventures with LG Chem to make materials for plant-based products such as bioplastics will not move forward, citing high costs. “Since we originally announced our two joint ventures with LG Chem for lactic and polylacticContinue Reading
pcess609 The Consumer Price Index comes out on Thursday at 8:30 AM, providing fresh data on whether the Federal Reserve’s tight policy is succeeding in pushing inflation down toward its 2% goal. On average, economists expect the headline CPI number to rise 0.1% in June, vs. 0.0% in May. ThatContinue Reading
Manchester United (NYSE:MANU) reported a wider third-quarter loss on Wednesday as the English soccer club tackled surging operating expenses and saw segment revenues decline sharply from last year. For the full year, the club expects to generate revenue of about £660 million, revised from the previously provided forecast range ofContinue Reading
Today, Amazon SageMaker announced a new inference optimization toolkit that helps you reduce the time it takes to optimize generative artificial intelligence (AI) models from months to hours, to achieve best-in-class performance for your use case. With this new capability, you can choose from a menu of optimization techniques, applyContinue Reading
As generative artificial intelligence (AI) inference becomes increasingly critical for businesses, customers are seeking ways to scale their generative AI operations or integrate generative AI models into existing workflows. Model optimization has emerged as a crucial step, allowing organizations to balance cost-effectiveness and responsiveness, improving productivity. However, price-performance requirements varyContinue Reading
mohd izzuan/iStock via Getty Images With the cost of prescription drugs soaring by nearly 40% over the past decade, affordability concerns have forced about a third of Americans to leave their prescriptions unfilled at the pharmacy, drug-saving platform GoodRx Holdings (GDRX) said in a report this week. According to GoodRx’sContinue Reading
