Could AI Reignite Growth at Amazon's AWS?
Last year, Amazon (NASDAQ: AMZN) struggled with various economic headwinds, as well as other company-specific challenges. That led it to report its first annual loss in nearly a decade, and its shares dropped almost 50%.
Things may be looking up, though. The company has made progress on its recovery plan, significantly reducing the outflow of cash and increasing operating income. Amazon may even have just the thing to boost revenue at Amazon Web Services (AWS), which is generally its biggest profit driver. I'm talking about artificial intelligence (AI). Let's find out more.
First, it's important to consider Amazon's story over the past few years. A black swan event hurt many retailers -- but actually led to an enormous wave of demand for Amazon. The pandemic, in its early days, kept people at home and favoring online shopping. To keep up, Amazon doubled its fulfillment network in just two years.
Source Fool.com
