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In his annual letter to shareholders, Amazon CEO Andy Jassy touted the transformative potential of generative AI while also committing to ongoing cost-cutting measures.that Andy Jassy, CEO of tech and e-commerce giant Amazon, proclaimed in his 2024 letter to shareholders that generative AI could usher in the largest technological transformation since the rise of cloud computing and the internet itself.
Despite the visionary AI rhetoric, Jassy also emphasized Amazon’s continued focus on cost reduction. The company has been reevaluating its fulfillment network and delivery systems to find additional areas to lower expenses, while it also cut hundreds of jobs in recent months across divisions like AWS, grocery technology, entertainment and Alexa.
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