The CEO of Amazon urges enterprises to invest heavily in artificial intelligence.

Amazon CEO Urges Companies to Invest Heavily in Artificial Intelligence

Andy Jassy, the CEO of Amazon, believes that companies should now "actively" invest in artificial intelligence to reap comprehensive financial rewards in the future. In the annual letter to Amazon shareholders released on Thursday, Jassy said that "substantial funds" are needed to keep up with the pace of AI innovation and customer demand for AI products. He added that Amazon also needs to invest this money now if it hopes to see substantial returns on investment in the coming years. In the shareholder letter, Jassy said that Amazon is currently building more than 1,000 generative AI applications. He also added that Amazon's AI revenue is growing at a "triple-digit" year-over-year percentage, representing a "multi-billion-dollar annual revenue run rate."

—— Techcrunch

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