diff --git a/.github/workflows/continuous_integration.yml b/.github/workflows/continuous_integration.yml
index cacb6af1..36cbdae7 100644
--- a/.github/workflows/continuous_integration.yml
+++ b/.github/workflows/continuous_integration.yml
@@ -66,7 +66,7 @@ jobs:
     strategy:
       fail-fast: false
       matrix:
-        AG_VERSION: ["source", "0.7.0"]
+        AG_VERSION: ["source", "1.1.0"]
     needs: cloud_lint_check
     runs-on: ubuntu-latest
     steps:
diff --git a/setup.py b/setup.py
index f7fc2f9a..5a6a5181 100644
--- a/setup.py
+++ b/setup.py
@@ -104,29 +104,27 @@ def default_setup_args(*, version):
     return setup_args
 
 
-version = "0.3.1"
+version = "0.4.0"
 version = update_version(version, use_file_if_exists=False, create_file=True)
 
 install_requires = [
     # common module provides utils with stable api across minor version
-    "autogluon.common>=0.7,<1.1",
+    "autogluon.common>=0.7",
     # <2 because unlikely to introduce breaking changes in minor releases. >=1.10 because 1.10 is 3 years old, no need to support older
     "boto3>=1.10,<2.0",
-    "numpy>=1.21,<1.27",
     "packaging>=23.0,<24.0",
-    "pandas>=2.0.0,<2.2.0",
     # updated sagemaker is required to fetch latest container info, so we don't want to cap the version too strict
     # otherwise cloud module needs to be released to support new container
     "sagemaker>=2.126.0,<3.0",
     "pyarrow>=11.0,<11.1",
     "PyYAML~=6.0",
-    "Pillow>=9.3.0,<10.0",  # unlikely to introduce breaking changes in minor releases
-    "ray[default]>=2.6.3,<2.7",
+    "Pillow>=10.2,<11",  # unlikely to introduce breaking changes in minor releases
+    "ray[default]>=2.10.0,<2.11",
 ]
 
 extras_require = dict()
 
-all_requires = ["autogluon>=0.7,<1.0"]  # To allow user to pass ag objects
+all_requires = ["autogluon>=0.7"]  # To allow user to pass ag objects
 extras_require["all"] = all_requires
 
 test_requirements = [
@@ -134,7 +132,7 @@ def default_setup_args(*, version):
     "pytest",
     "pytest-cov",
     "moto",
-    "autogluon.common>=0.7.0b,<1.1",
+    "autogluon.common>=0.7",
 ]  # Install pre-release of common for testing
 
 test_requirements = list(set(test_requirements))
diff --git a/tests/unittests/general/test_ec2.py b/tests/unittests/general/test_ec2.py
index d13c9a95..65b731db 100644
--- a/tests/unittests/general/test_ec2.py
+++ b/tests/unittests/general/test_ec2.py
@@ -1,12 +1,12 @@
 import os
 import tempfile
 
-from moto import mock_ec2
+from moto import mock_aws
 
 from autogluon.cloud.utils.ec2 import _get_key_pair, create_key_pair, delete_key_pair, get_latest_ami
 
 
-@mock_ec2
+@mock_aws
 def test_key_pair():
     with tempfile.TemporaryDirectory() as temp_dir:
         os.chdir(temp_dir)
diff --git a/tests/unittests/general/test_iam.py b/tests/unittests/general/test_iam.py
index 65eaa5a7..318427b3 100644
--- a/tests/unittests/general/test_iam.py
+++ b/tests/unittests/general/test_iam.py
@@ -1,5 +1,5 @@
 import boto3
-from moto import mock_iam
+from moto import mock_aws
 
 from autogluon.cloud.utils.iam import (
     add_role_to_instance_profile,
@@ -12,7 +12,7 @@
 )
 
 
-@mock_iam
+@mock_aws
 def test_iam_utils():
     iam_client = boto3.client("iam")
     dummy_role = "dummy_role"
diff --git a/tests/unittests/general/test_s3_utils.py b/tests/unittests/general/test_s3_utils.py
index 8eef7ea0..70d848df 100644
--- a/tests/unittests/general/test_s3_utils.py
+++ b/tests/unittests/general/test_s3_utils.py
@@ -2,12 +2,12 @@
 import tempfile
 
 import boto3
-from moto import mock_s3
+from moto import mock_aws
 
 from autogluon.cloud.utils.s3_utils import upload_file
 
 
-@mock_s3
+@mock_aws
 def test_upload_file():
     s3 = boto3.client("s3")
     # We need to create the bucket since this is all in Moto's 'virtual' AWS account