Yes you can! We used it for a university project and it allowed us to test different model configurations and datasets much faster. Before that, we'd run the training over the day / night on one of our personal desktop computers with a dedicated GPU. Using Colab reduced the time needed for training by about 75%.
Of note, the cost of the VM and GPU used in Colaboratory is only $0.54/hr total. If you are doing a research project, it might be more pragmatic in terms of workflow to use a more powerful machine that's slightly more expensive.
Yep. Tesla K80 for 12 hours max at a stretch. Has awesome integration with man other services too.
Not sure where your 12 hour figure came from. I found this though:
> Colaboratory is intended for interactive use. Long-running background computations, particularly on GPUs, may be stopped.
Yeah - this kind of tool is ripe for crypto mining abuse.