Amazon CEO Says About Role of His Company in Generative AI Boom

Chief Executive Officer Inc. Andy Jassy said that the cloud infrastructure of the company he heads will become an essential part of the boom in the generative artificial intelligence industry.

Amazon CEO Says About Role of His Company in Generative AI Boom

In the annual letter to shareholders, Mr. Jassy noted that the mentioned firm independently develops a significant number of generative machine intelligence apps. At the same time, he said, the vast majority of relevant digital products will eventually be built by other companies.

In a letter to shareholders, Andy Jassy also stated an optimistic perception of the fact that most of the artificial intelligence, which is a world-changing force, will be developed on top of Amazon Web Services (AWS).

Mr. Jassy began his career at Amazon, whose ownership structure, among other things, includes the best American delivery service, in 1997. In 2021, he became CEO of the company after its founder Jeff Bezos stepped down from the relevant position, taking over as executive chairman. Andy Jassy implements a management strategy that provides for the making and subsequent implementation of decisions such as a campaign to massively reduce the workforce, save costs, and stop production. It is worth noting that this concept of the activity of the current CEO of Amazon is associated with a kind of adaptation of the firm to the reality and challenges that arose during the coronavirus pandemic, which became a factor in the transformation of many processes in the business environment.

Jeff Bezos’ management style was different. His concept of activity as head of the company provided for investing revenue in successful projects. At the same time, he sometimes made decisions about saving money. It is worth noting that such actions had a peculiarity, which was that a kind of frugality of Mr. Bezos was not permanent and manifested itself only in certain cases, not being a permanent element of his management strategy.

In April, the media reported that Amazon was starting to cut hundreds of jobs at AWS. At the same time, in a letter to shareholders, Andy Jassy stated that the mentioned unit of the company will be a kind of core of apps and artificial intelligence models. Also, according to him, AWS will help democratize the next stage of machine intelligence development.

Andy Jassy has decided to focus the company’s investments on several major initiatives. In this case, it means projects for the construction of data processing centers, which are necessary to ensure the functioning of artificial intelligence both on a global scale and within the framework of corporate scenarios for the use of advanced technology. Amazon will also provide investments to develop a franchise in the spheres of groceries and healthcare. The implementation of the mentioned projects was one of the main topics of Andy Jassy’s letter to shareholders last year.

Amazon CEO says artificial intelligence could be the biggest technological transformation since the days of cloud technology or perhaps the Internet. According to him, the number of benefits from the use of AI for society and business will astound everyone.

Amazon has also added artificial intelligence specialists to its board of directors. Andrew Ng, who helped found Google Brain and was the chief scientific of Baidu Inc., became director this week. The relevant information is contained in the official message of the company.

Judith McGrath, a member of the board of directors since 2014, will not run for re-election in 2024. She was re-elected a year ago.

Serhii Mikhailov

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Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.