Amazon reportedly plans to invest nearly $1.3 billion in technology projects in France.
The e-commerce giant is one of several global companies poised to announce new overseas investments in France this week, Bloomberg News reported on Sunday (May 12). It is a company.
French President Emmanuel Macron on Monday (May 13) invited 180 CEOs and executives to attend the country's seventh annual “Choose France” summit as part of the government's campaign to make France the financial hub of Europe. 180 people were welcomed to the Palace of Versailles.
The report cited a statement from Macron's government saying that overall investments exceeded last year's total of $14 billion.
Amazon's $1.29 billion investment includes strengthening its logistics and increasing its computing power, particularly in its cloud arm AWS, and will bring about 3,000 new jobs.
Other companies participating in the summit include Pfizer, AstraZeneca and Morgan Stanley, according to the report.
The investment comes on the heels of Amazon's latest earnings report in which it announced several new generative AI (GenAI) products and services and showed AI to be a key driver of growth for the company in its most recent quarter. .
“Most notable of these was Amazon Q, a GenAI-powered assistant that accelerates software development and leverages companies’ internal data,” PYMNTS writes. “Amazon also introduced Bedrock, a fully managed AI service that enables customers to quickly build and deploy AI applications.”
According to the report, Amazon continues to expand its partnerships with top AI companies such as Anthropic, Meta, and Nvidia to enhance its AI products.
And in the face of increasing competition from rivals such as Microsoft Azure and Google Cloud, AWS showed signs of a comeback in the first quarter of 2024. The division's sales increased 17% year-on-year to his $25 billion, and operating profit increased to his $9.4 billion. , which was $5.1 billion in the first quarter of last year.
Meanwhile, PYMNTS investigated last week the company's increased use of AI to combat fraudulent reviews. This is an essential effort to retain consumers who rely on these ratings in their purchasing decisions and businesses who require genuine feedback from their customers.
Andrew Sellers, head of technology strategy at Confluent, told PYMNTS: “AI assesses fraud risk by incorporating many characteristics of end-customer behavior, including transaction time, amount, location, and purchase/billing history. “We can build very detailed models for this.”
These models can be based on rules set by experts or on patterns learned by machines using transaction data, he added.
“Running this type of analysis at scale requires automation,” Sellers says.
For all of PYMNTS’ retail coverage, subscribe to our daily retail newsletter.
More information: AI, Amazon, Amazon AI, artificial intelligence, AWS, Choose France, e-commerce, France, GenAI, generative AI, news, PYMNTS news, retail, updates
Source link
