Amazon The company reportedly plans to invest nearly $1.3 billion in high-tech projects in France.
The e-commerce giant is one of several global companies waiting to make an announcement. new overseas investment Bloomberg News reported on Sunday (May 12) this week in France.
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: pfizerAstraZeneca and Morgan Stanley, the report said.
The investment comes on the heels of Amazon’s latest earnings report. became an important driver of growth The company announced several new generative AI (GenAI) products and services in recent quarters.
“Most notable of these was Amazon Q, a GenAI-powered assistant that accelerates software development and leverages companies’ internal data,” PYMNTS writes. “Amazon has also introduced bedrocka fully managed AI service that allows customers to: Build and deploy Deliver AI applications quickly. ”
Amazon continued to expand Collaboration with top AI companiesamong them humanmeta and Nvidiato enhance AI products, the report states.
In the face of increasing competition from rivals such as: microsoft azure and google cloudAWS showed signs of resurgence in the first quarter of 2024. The division’s sales rose 17% year over year to $25 billion, and operating profit rose to $9.4 billion from $5.1 billion in the first quarter of last year.
Meanwhile, PYMNTS reported last week that the company’s Increased use of AI It’s an essential effort to combat fraudulent reviews, keep consumers relying on these ratings to make purchasing decisions, and businesses that need genuine feedback from their customers.
Andrew SellersHead of Technology Strategy Confluencetold PYMNTS, “AI can build highly granular models to assess fraud risk that incorporate many characteristics of end-customer behavior, such as transaction time, amount, location, and purchase/billing history. ” he said.
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.
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