Amazon Quietly Acquired an AI Company Last Year -- Here's What Investors Need to Know
Artificial intelligence (AI) has taken center stage in 2023. The emergence of next-level generative AI systems -- including OpenAI's ChatGPT -- have given many people the first glimpse of what an AI-powered future could be, and they were captivated by what they saw. The ability of these systems to summarize information, write text, and even generate images opens up a whole new world of technological advances for consumers and businesses alike.
Yet big technology companies -- including Amazon (NASDAQ: AMZN) -- have been relying on AI for years. The digital retailer has long used these advanced systems to track inventory, help predict customer demand, recommend products to shoppers on its e-commerce site, and as a foundational offering for Amazon Web Services (AWS) -- its cloud infrastructure platform.
Now, Amazon has quietly acquired a start-up AI company to develop features for its streaming music and podcasts business.
Source Fool.com
