Lede

Amazon CEO, Andy Jassy, has confirmed the company's investment in large language models (LLMs) and generative AI technology, similar to that which underpins ChatGPT and other AI chatbots, which he believes will transform and improve the customer experience across all consumer, seller, brand, and creator experiences.

Summary

• Amazon CEO, Andy Jassy, has confirmed the company's investment in large language models (LLMs) and generative AI technology, which he believes will transform and improve the customer experience across all consumer, seller, brand, and creator experiences.
• Jassy's remarks in his second annual letter to shareholders since taking over as CEO highlight the pressure that many tech companies face to explain how they can tap into the rapidly evolving marketplace for AI products.
• Amazon's goal is to offer less costly machine learning chips so that "small and large companies can afford to train and run their LLMs in production."
• Amazon unveiled a new service called Bedrock, which makes foundation models (large models that are pre-trained on vast amounts of data) from AI21 Labs, Anthropic, Stability AI, and Amazon accessible to clients via an API.
• Jassy thinks Bedrock "will change the game for people."
• In his letter, Jassy also touted AWS's CodeWhisperer, another AI-powered tool that generates code suggestions in real time, as a revolutionary tool that enhances developer productivity.
• Amazon disclosed that Jassy's pay package last year was valued at some $1.3 million, and that the CEO did not receive any new stock awards in 2022.
• Despite the challenges at Amazon, Jassy remains optimistic and energized by what lies ahead, stating that he strongly believes that their best days are in front of them.