Amazon’s CEO, Andy Jassy, reassured investors that the company is keeping up with the latest advances in artificial intelligence (AI). In a letter to shareholders, Jassy stated that Amazon is investing heavily in large language models (LLMs) and generative AI technology, which powers AI chatbots such as ChatGPT. LLMs are trained on vast amounts of data to generate responses to user prompts, and Amazon aims to make machine learning chips more affordable for small and large companies to use.

Amazon recently launched Bedrock, a new service that offers foundation models from AI21 Labs, Anthropic, Stability AI, and Amazon accessible to clients through an API. Jassy believes that Bedrock “will change the game for people.” In addition, Jassy discussed AWS’s CodeWhisperer, which generates code suggestions in real-time, and expressed his optimism for Amazon’s future despite recent challenges. Amazon has cut 27,000 jobs and reevaluated certain free shipping options, but Jassy remains optimistic about what lies ahead.