Daily Dose of Tech | 2024-01-23

📄 Leaked: EU's Plan for AI Innovation, ☁️ Oracle Launches Cloud-Based Generative AI Service, 🎖️ 2024's Top 7 Cloud Computing Startups

Hey there, Tech Enthusiasts! 👋

Welcome to Edition 31 of my Daily Dose of Tech, your hub for all things Tech, Cloud Computing & AI. Stay updated with the latest news, expert insights, practical tips, and spotlights on emerging tech trends. Let's dive right in!

☁️ Oracle Launches Cloud-Based Generative AI Service

Oracle Corp. has launched its Oracle Cloud Infrastructure Generative AI service, targeting large enterprises for leveraging generative AI technology. This service, hosted in the cloud, allows businesses to use advanced language models such as Meta's Llama 2 and Cohere Inc.'s algorithms, to automate business processes.

The OCI Generative AI service supports over 100 languages and offers customizable fine-tuning, accessible through API for tasks like text generation. It stands as an alternative to Microsoft's Azure OpenAI, with a focus on using customer data to enhance AI performance.

Available in multiple Oracle Cloud regions and on-premises, this service integrates with Oracle's range of cloud business applications and databases. Despite its innovative approach, it faces stiff competition from Microsoft, Google, and Amazon, which offer more advanced AI services. However, Oracle's integration with its existing applications and potential competitive pricing could attract a niche market of enterprises.

Read the full article here ⤵️

📄 Leaked: EU's Plan for AI Innovation

A leaked draft unveils the European Commission's strategy to foster generative AI through the creation of 'AI Factories'. This initiative is designed to strengthen Europe's AI capabilities in key sectors, aligning with the broader AI Act for regulation. These factories will serve as hubs around European supercomputers, providing the necessary infrastructure and resources for AI model development and application, emphasizing responsible and ethical AI usage.

The strategy proposes significant funding, amounting to €500 million from Horizon Europe and Digital Europe programs, with additional support for AI-oriented microchips and computing infrastructure. This funding aims to facilitate AI integration across various sectors, including healthcare, robotics, and manufacturing, by connecting AI start-ups with established industries.

This leak highlights the European Commission's commitment to enhancing AI technology and infrastructure, focusing on developing a robust ecosystem for AI startups and traditional industries. The strategy reflects a significant step towards Europe's technological advancement and competitiveness in the global AI landscape.

Read the full article here ⤵️

🎖️ 2024's Top 7 Cloud Computing Startups

As the cloud computing landscape continues to evolve rapidly, numerous startups are emerging as key players, bringing innovative solutions and technologies to the forefront. In 2024, several of these companies stand out for their unique contributions to cloud optimization, security, and infrastructure management.

Here's a look at the top 7 cloud computing startups to watch this year, each carving out its niche in this dynamic market.

1. Cast AI: Founded in 2019, Cast AI focuses on cloud cost optimization for Kubernetes users in AWS, GCP, and Azure. Using AI and automation, it reduces operational costs and improves performance. After raising $35 million in series B funding, Cast AI aims to expand its Kubernetes optimization and product offerings.
2. Chronosphere: Established in 2019, Chronosphere offers a cloud platform for monitoring and resolving IT asset issues, helping companies control data growth and complexity in cloud computing. With $342.5 million raised over four rounds, Chronosphere emphasizes data and infrastructure cost management.
3. Dazz: Founded in 2021, Dazz is a cloud security platform that automates security risk mitigation in cloud environments. The platform, designed for modern security remediation, has raised $60 million in funding, enabling quick response to security vulnerabilities.
4. DuploCloud: Started in 2018, DuploCloud provides tools for app provisioning in AWS, GCP, and Azure. Focusing on compliance and security, it integrates DevOps and cloud operations. The company has raised $49.5 million, using the funds for platform expansion and engineering.
5. Grip Security: Founded in 2021, Grip Security specializes in cloud data security. Using a zero-trust approach, it protects data and cloud apps, focusing on SaaS environments. The company has raised $66 million, and its valuation ranges between $200 million and $400 million.
6. Impossible Cloud: A 2021 startup, Impossible Cloud offers decentralized cloud storage based on blockchain and Web3 technologies. It provides scalable and cost-effective data storage services, backed by a fiat-based payment system. The company has raised around $10.9 million in funding.
7. Wiz: Founded in 2020, Wiz is a cloud security startup that aids organizations in public cloud risk management. Serving over 40% of Fortune 100 companies, it has raised $900 million, achieving a $10 billion valuation. Wiz focuses on integrating security across various cloud platforms.

The growth and dynamism in the cloud computing sector are evident in the diverse offerings and advancements of these top startups. As they continue to reshape the cloud landscape, their contributions are not only pivotal for technological advancement but also crucial for the future of business operations in a cloud-centric world. These startups, with their cutting-edge solutions and significant market impact, are definitely the ones to keep an eye on throughout 2024.

Hey there, I'm Tobias Schümann, the visionary behind Cloud Consulting Europe.

I'm passionate about reshaping industries using cutting-edge cloud tech, AI, and innovation. Throughout Europe, I've led various projects, from smooth cloud migrations to game-changing IoT solutions.

Bagging all 12 AWS certifications shows how deep I'm into mastering the cloud. I love discussing digitization and the ever-changing world of technology.

Let's chat and explore the endless possibilities of tech together or simply let me know about other tech topics I should cover in the future. Gladly also by mail: tobias.schuemann@cloud-consulting.eu.

Tech is for everyone ☁️

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