Amazon’s annual shareholder meeting featured no surprises on Wednesday, as investors again rejected all proposals from their peers for the company to provide additional oversight and transparency on their business operations and impact.
But the approximately hour-long meeting did provide a venue for Amazon CEO Andy Jassy to once again made the case for the company’s extraordinary—and fast-growing—investments into artificial intelligence infrastructure and products, with capital expenditures primarily focused on this space to grow to around $100 billion in 2025, up from $78 billion last year.
Calling the current gen AI environment a “very unusual opportunity,” Jassy rattled off nearly a dozen different tangible use cases of the technology inside Amazon, across both his opening remarks as well as in response to a question from a shareholder that asked if Amazon was slowing down its AI investments as some thought a recent Wells Fargo report was indicating. (Jassy denied a slowdown).
The CEO cited gen AI uses across two realms: “cost avoidance and productivity” and “altogether new customer experiences.”
In the first bucket, he referenced the company’s core customer service chatbot, that was rearchitected using gen AI, as well as gen AI tools that help Amazon sellers create new listings quicker, as well as ones that help the company forecast customer demand for inventory more accurately.
In the second bucket, Jassy breezed through a bevy of customer-facing products, from the Rufus shopping assistant, to the new Alexa Plus voice assistant, which the company began rolling out to a limited customer base last month (though these new users are currently hard to find). The CEO also pointed to AI-powered customer review summaries on Amazon’s shopping app, and new products geared toward AWS customers like the Nova foundational model and the company’s Trainium AI chips.
“We happen to believe that virtually every customer experience will be reinvented using AI,” Jassy said.
He said that shareholders who see this transformation through over the long term will end up “very happy.”
Jassy’s comments come as he and other rival Big Tech CEOs continue to explain and defend their unprecedented investments into generative AI consumer technologies and infrastructure since ChatGPT burst onto the scene more than two years ago. Such explanations or defenses have become regular occurrences on earnings reports as public-market investors try to balance the potential of what many see as a historic business opportunity with the exceptional resources being poured into this arms race.
For CEOs like Jassy, the explanations not only are designed to appease, educate or excite investors, but also could be seen as signals meant to help attract specialized and coveted talent.
This story was originally featured on Fortune.com
