June 23 (Cointime) - Amazon Web Services (AWS) has launched a $100 million fund to support startups focused on generative AI, a subset of artificial intelligence that can create new content instead of just classifying data or predicting outcomes.

The AWS Generative AI Innovation Center will connect AWS-affiliated data scientists, strategists, engineers, and solutions architects with customers and partners to accelerate enterprise innovation and success with generative AI.

The program will prioritize customers who have demonstrated interest in generative AI and focus on sectors such as financial services, healthcare, life sciences, media and entertainment, automotive, energy, utilities, and telecommunications.

The global economy could potentially benefit by $4.4 trillion annually from generative AI, according to a recent McKinsey report, and the entire AI industry is estimated to reach $15.7 trillion by 2030.