Amazon CEO Andy Jassy Says Generative Artificial Intelligence (AI) May Be the Largest Technology Transformation Since the Internet. 1 Stock to Buy If He's Right.
In Amazon's (NASDAQ: AMZN) annual shareholder letter released on Thursday, CEO Andy Jassy said, "Generative AI may be the largest technology transformation since the cloud ... and perhaps since the Internet." If his excitement about artificial intelligence (AI) was apparent from that statement, he went on to say, "The amount of societal and business benefit ... will astound us all."
There's no denying that AI has the potential to generate a windfall for companies that get in on the ground floor. You might be surprised to learn that Amazon is one such company. According to Jassy, "much of this world-changing AI will be built on top of Amazon Web Services (AWS)."
When AI adoption started in earnest last year, many believed Amazon was falling behind, but that narrative is flawed. The company has since unveiled a wide range of AI initiatives across its vast retail and cloud computing empire. It developed specialized processors that run AI models, AI-powered apps to help its e-commerce customers, and conversational digital assistant Q to help AWS users. Amazon also has a $4 billion stake in start-up Anthropic AI, further boosting its credentials.
Source Fool.com
