Posted 3/21/2024, 12:20:00 PM
Amazon Races Ahead in AI to Boost E-Commerce and Advertising, While AWS Leads in Cloud AI Services
- AI is a transformative technology expected to be a $1 trillion market by 2030, with companies like Amazon utilizing it extensively
- Amazon's cloud computing division AWS is dominating the market and sees strong growth from generative AI offerings
- Amazon is using AI to optimize operations and transform customer experiences in e-commerce
- Its advertising business is growing rapidly by delivering personalized and relevant ads via AI
- Despite impressive gains, Amazon stock remains attractively valued given the company's long-term growth drivers like AI