Can you explain the process of launching an Amazon EC2 instance from an AMI, considering factors like instance type, storage, and network settings?

To launch an EC2 instance from an AMI, follow these steps:

1. Choose the desired AMI in the AWS Management Console.
2. Select the appropriate instance type based on compute, memory, and storage requirements.
3. Configure instance details like VPC, subnet, IAM role, and monitoring settings.
4. Add storage by selecting EBS volume types, sizes, and encryption options.
5. Configure security groups to define inbound and outbound traffic rules.
6. Review and launch the instance.

Instance type affects performance and cost; choose wisely. Storage configuration impacts durability and IOPS. Network settings determine accessibility and security of the instance.