08:19:46 EDT Tue 01 Jul 2025
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Amazon.com CDRs (CAD Hedged)
Symbol AMZN
Shares Issued 25,050,000
Close 2024-08-30 C$ 21.34
Market Cap C$ 534,567,000
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Globe/wire say Amazon revamps Alexa

2024-09-03 07:24 ET - In the News

The Globe and Mail reports in its Saturday edition that five unnamed sources say Amazon's revamped Alexa, due for release in October, will be powered primarily by Anthropic's Claude artificial intelligence models, rather than its own AI. A Reuters dispatch to The Globe reports that according to one source, Amazon is planning to introduce a new version of Alexa called "Remarkable," which will cost $5 (U.S.) to $10 (U.S.) per month. This version will use advanced generative AI to answer complex queries. The original version of Alexa, referred to as the "Classic" voice assistant, will remain free to use. In June, Reuters reported that initial versions of the new Alexa, using in-house software, experienced difficulties in responding promptly to prompts, sometimes taking six or seven seconds to reply. Sources say that is why Amazon turned to Claude, an AI chatbot developed by start-up Anthropic, as it performed better than the on-line retail giant's own AI models. Amazon's efforts to boost revenue through Alexa shopping have been unsuccessful, leaving the division unprofitable. Senior management aims for Alexa to show meaningful sales by 2024, with the revamped paid version seen as a way to achieve this and compete with rivals.

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