In a bid to enhance efficiency within its logistics network, Amazon.com Inc (NASDAQ:AMZN) is set to intensify its investments in companies bridging the realms of artificial intelligence (AI) and robotics.
Franziska Bossart, Head of the corporate venture capital arm established in 2022, highlighted generative AI’s pivotal role in the future of robotics and automation.
Bossart asserted that Amazon’s $1 billion industrial innovation fund’s investment pace would notably escalate throughout 2024, building on its inaugural investment in a generative AI company last year, details of which remain undisclosed.
The industrial innovation fund, the Financial Times notes, has made a total of 12 investments, including in Mantis Robotics, and is strategically focusing on generative AI groups as part of a broader trend in the tech industry.
Microsoft Corp (NASDAQ:MSFT) pledged up to $13 billion to OpenAI, while Amazon independently committed up to $4 billion to generative AI start-up Anthropic.
Beyond the fund, Amazon invested over €400 million in 2022 to advance technologies like industrial ...