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A Amazon makes a big bet on generative artificial intelligence and believes that this technology will become “big deal“for your business in the future,” said the CEO Andy
A Amazon makes a big bet on generative artificial intelligence and believes that this technology will become “big deal“for your business in the future,” said the CEO Andy Jassi this Thursday (13).
In his second annual letter to shareholders, Yassi stated that the tech giant will invest heavily in both generative artificial intelligence and large language models (LLMs) — AI trained on large datasets to eventually create new content and complex text on its own..
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“I will mention another area of investment that is critical to getting Amazon ready to innovate in all areas of our business for decades to come, and in which we are investing heavily: large language models and generative artificial intelligence.“, He said.
“I could write a whole letter about LLM and Generative AI as I believe they will be so transformative, but I’ll save that for a future letter.Jassy added.Let’s put it this way, LLM and generative artificial intelligence will be big business for customers, shareholders, and Amazon.“, he concluded.
Yassi also warned of the hurdles Amazon Web Services is facing and told employees to return to the office at least three days a week. He succeeded Amazon founder Jeff Bezos as the company’s CEO in July 2021.
Two tech giants Amazon, Microsoft and Alphabet’s parent Google, also announced major investments in generative artificial intelligence this year.
In February, Microsoft launched a new ChatGPT-powered version of its Bing search engine from OpenAI, and last month Google rolled out its Bard AI chatbot to users in the US and UK.
Yassi is likely hoping that Amazon’s foray into artificial intelligence will help lift the company’s stock price, which plummeted in 2022, when he was at the helm for the first time.
Shares have fallen 36% over the past 12 months, despite a 16% recovery in 2023 as part of a broader rise in tech stocks. They recovered as investors bet that the Federal Reserve would soon end its campaign to raise interest rates.
Amazon shares rose 0.5% in premarket Thursday and traded at just over $98 before the open.
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Donald Salinas is an experienced automobile journalist and writer for Div Bracket. He brings his readers the latest news and developments from the world of automobiles, offering a unique and knowledgeable perspective on the latest trends and innovations in the automotive industry.
