Amazon has announced its earnings for the first quarter of 2024, touting the expansion of its generative artificial intelligence (GenAI) for its cloud computing services as well as its fastest ever delivery times for its e-commerce business.
Amazon saw its net income increase from $3.2 billion in the first three months of 2023 to $10.4 billion in Q1 of 2024, which CEO Andy Jassy credited in part to Amazon Web Services' (AWS) expanded GenAI capabilities. The company has integrated the technology across a swathe of industries, including:
- Imaging for healthcare tech company Philips to help with medical diagnostics and research
- Generating metadata for the Deutsche Fußball Liga in Germany, so that football clubs can search for specific content in thousands of hours of video footage
- Parsing through millions of pages of scientific journals to assist human genome research organization Genomics England in identifying links between genetic variants and health conditions
- Helping clinicians at Dana-Farber Cancer Institute interpret lab results to diagnose medical conditions
Amazon also boasted improvements to its delivery services, reporting that almost 60% of Prime customers in the 60 largest U.S. metro areas had orders arrive on the same or next day in Q1. That came after a shift to regionalize the company's U.S. network, as Amazon started using machine learning to predict the products customers in specific regions would want, and then storing those products in facilities closer to those areas. The company now estimates that more than 76% of its orders are shipped from fulfillment centers in each customer's region.
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