Amazon CEO defines gen AI strategy amid cost concerns – Axios
Photo by Thos Robinson/Getty Images for The New York Times
Amazon CEO Andy Jassy revealed details about the company's investments in generative AI in his annual shareholder letter published Thursday morning.
Why it matters: It costs money to make money and before many companies can reap outsized rewards from selling new AI products and services, they are expected to outlay enormous sums to build them.
What he's saying: "[T]here are three distinct layers in the GenAI stack, each of which is gigantic, and each of which we're deeply investing," Jassy writes.
Zoom out: A year ago, Amazon was emerging from a state of transition as pandemic-era trends melted away into a new state of normal.
Now, Amazon aims to expand from cloud computing through AWS to becoming the world's largest AI playground, Axios' Ryan Heath reported in March.
The big picture: The twin engines of Amazon's business are its cloud computing unit, AWS, and its e-commerce platform.
Another notable takeaway: Jassy says Amazon Prime Video "can be a large and profitable business on its own."
The intrigue: Amazon's overall growth strategy is complex because the company is in so many different types of businesses, including satellite internet and healthcare.
What we're watching: Amazon's next quarterly earnings report is estimated to come out on April 25.
Related: Amazon pushes further into sales periods
This is a developing story. Check back for updates.
This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
Amazon CEO Andy Jassy revealed details about the company's investments in generative AI in his annual shareholder letter published Thursday morning.
Why it matters: It costs money to make money and before many companies can reap outsized rewards from selling new AI products and services, they are expected to outlay enormous sums to build them.
What he's saying: "[T]here are three distinct layers in the GenAI stack, each of which is gigantic, and each of which we're deeply investing," Jassy writes.
Zoom out: A year ago, Amazon was emerging from a state of transition as pandemic-era trends melted away into a new state of normal.
Now, Amazon aims to expand from cloud computing through AWS to becoming the world's largest AI playground, Axios' Ryan Heath reported in March.
The big picture: The twin engines of Amazon's business are its cloud computing unit, AWS, and its e-commerce platform.
Another notable takeaway: Jassy says Amazon Prime Video "can be a large and profitable business on its own."
The intrigue: Amazon's overall growth strategy is complex because the company is in so many different types of businesses, including satellite internet and healthcare.
What we're watching: Amazon's next quarterly earnings report is estimated to come out on April 25.
Related: Amazon pushes further into sales periods
This is a developing story. Check back for updates.
This article was autogenerated from a news feed from CDO TIMES selected high quality news and research sources. There was no editorial review conducted beyond that by CDO TIMES staff. Need help with any of the topics in our articles? Schedule your free CDO TIMES Tech Navigator call today to stay ahead of the curve and gain insider advantages to propel your business!
