Amazon.com Inc. CEO Andy Jassy said on Thursday in the annual shareholder letter that the company's artificial intelligence (AI) revenue is growing "at triple-digit YoY [year over year] percentages and represents a multi-billion-dollar annual revenue run rate."
He added that the company still believes AI is a "once-in-a-lifetime reinvention," insisting that both its customers and shareholders will benefit from Amazon "aggressively" investing in it.
Talking about moving fast in the tech world, Jassy noted that one way to gain speed is by cutting bureaucracy. "Builders hate bureaucracy. It slows them down, frustrates them, and keeps them from doing what they came here to do ... We've already made over 375 changes based on this feedback. We need to move fast, and we are committed to rooting out bureaucracy that ties up time and dispirits our teammates," the Amazon chief commented.
