3 Reasons Amazon Is Still a Top Artificial Intelligence (AI) Stock to Buy Right Now
The launch of OpenAI's generative artificial intelligence (AI) chatbot, ChatGPT, sparked a technology hype cycle that has created boatloads of shareholder returns this year. One big beneficiary of this trend has been Amazon (NASDAQ: AMZN) with its stock price up by a whopping 62% year to date. Let's explore three fundamental reasons why the e-commerce giant could become a long-term AI winner.
In business, the flywheel effect occurs when small improvements compound to create substantial long-term gains. Amazon is using this strategy to incorporate artificial intelligence into many aspects of its operations. On the retail side, the company is working on an initiative called Project Nile, which will revamp its e-commerce platform with generative AI capabilities over the coming quarters.
This strategy could include adding things like AI-powered search and a conversational shopping assistant designed to help customers locate and get information about products on the Amazon marketplace.
Source Fool.com
