Amazon’s annual shareholder meeting featured no surprises on Wednesday, as investors again rejected all proposals from their peers for the company to provide additional oversight and transparency on their business operations and impact.
The CEO cited gen AI uses across two realms: “cost avoidance and productivity” and “altogether new customer experiences.”
“We happen to believe that virtually every customer experience will be reinvented using AI,” Jassy said.
He said that shareholders who see this transformation through over the long term will end up “very happy.”
Jassy’s comments come as he and other rival Big Tech CEOs continue to explain and defend their unprecedented investments into generative AI consumer technologies and infrastructure since ChatGPT burst onto the scene more than two years ago. Such explanations or defenses have become regular occurrences on earnings reports as public-market investors try to balance the potential of what many see as a historic business opportunity with the exceptional resources being poured into this arms race.
For CEOs like Jassy, the explanations not only are designed to appease, educate or excite investors, but also could be seen as signals meant to help attract specialized and coveted talent.
