AI and E-Commerce: How Amazon Leverages AI for Growth
Amazon's (NASDAQ: AMZN) massive web presence has made it one of the leading technology companies. But despite its leadership in e-commerce and cloud services, it was not immune to the 2022 bear market. Even though it has risen 30% from recent lows, the stock still trades at a discount of almost 45% from its all-time high.
However, its cloud leadership has helped spark an interest in artificial intelligence (AI). Not only can it help bring AI to the companies it serves, but it also makes Amazon more explicitly a cloud and AI investment.
The emphasis on AI comes down to one factor: growth. According to Grand View Research, the global AI market will have a compound annual growth rate of 37% through 2030. If Grand View is correct, that means a market valued at $197 billion this year will grow to more than $1.8 trillion over the next seven years.
Source Fool.com
