Driven by its artificial intelligence (AI) developments, Amazon (NASDAQ:AMZN) keeps stamping its position among the "Mag 7" stocks with shares climbing 25.5% year-to-date and over 21% in the past six months.
At the re:Invent conference in Las Vegas, Amazon Web Services (AWS) presented several significant artificial intelligence projects. These comprise the launch of basic artificial intelligence models, collaborations with GitLab (NASDAQ:GTLB) and PagerDuty (NYSE:PD), and a new video search tool created with startup Twelve Labs. Working with Amazon Q, GitLab Duo seeks to speed up software development by including AI-powered DevSecOps processes.
Ashley Kramer, GitLab's interim chief revenue and marketing officer, stated, "GitLab Duo with Amazon Q provides an enterprise-grade platform that accelerates and automates software development while ensuring security, compliance, and privacy." Complementing its 11-year relationship with AWS, PagerDuty announced improved generative AI and automation capabilities for its Operations Cloud platform. "
We are enhancing our alliance to include generative artificial intelligence into digital operations management," PagerDuty CEO Jennifer Tejada said. AWS also displayed Twelve Labs' creative video search system, which allows extremely contextual searches similar to human vision.
CEO Jae Lee emphasized how the platform might reveal insights from the 80% of the world's data kept in videos. AWS also unveiled a new collection of basic artificial intelligence models called Amazon Nova, which range in capability from text-to-text processing to video conversion from text and images.
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