DATA & ANALYTICS
W ith the evolution of AI in full swing , organisations are realising and grappling with its opportunities and challenges . Against a backdrop of increasing regulatory scrutiny , with the EU AI Act coming into force and similar legislation being considered in the US , UK and Asia-Pacific regions , major technology companies are competing to establish their positions in this endlessly advancing market .
Where concerns about AI safety and ethics intersect with unprecedented technological advancement , several key trends have emerged .
First , there ’ s a growing emphasis on responsible AI development , particularly following the 2023 AI Safety Summit and subsequent international agreements .
Second , there ’ s increasing pressure for AI solutions that can operate within varying regulatory frameworks across different jurisdictions .
Third , businesses worldwide are seeking more cost-effective and efficient ways to implement AI technologies , especially amid economic uncertainties and rising computing costs .
Aiming to address these challenges with not just one but a multitude of new AI models , Amazon has announced its Nova family of AI models in the company ’ s AI strategy .
What sets the Nova announcement apart is its breadth and ambition with not just multiple models , but with each model being optimised for different use cases and computational requirements .
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