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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 244.22

+9.6%

Oct 31 9:30 AM EST

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From: Julius Wong	5/16/2023 8:44:33 AM
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Amazon Says Its AI Already Knows What to Stock for You Nearby Amazon VP Stefano Perego said that AI will help customers find items, help drivers plan routes, and help the company figure out where to stock inventory. In its bid to continue dominating online commerce, Amazon is enlisting artificial intelligence to help. The company is reportedly using artificial intelligence to map where products are in-demand to increase delivery speed. Amazon vice president of customer fulfillment and global ops services Stefano Perego described the approach to CNBC. Artificial intelligence will help Amazon plan delivery routes and map stops while accounting for rogue variables like weather and online shopping will be enhanced to help customers better find what they’re looking for. Amazon’s big push, according to Perego, is what the company calls “regionalization,” or, using AI to figure out where to place in demand inventory to cut down on delivery times. “So now, I’m pretty sure you’re familiar with the vast selection we offer to our customers,” Perego told CNBC. “Imagine how complex is the problem of deciding where to place that unit of inventory. And to place it in a way that we reduce distance to fulfill to customers, and we increase speed of delivery.” In order to compress delivery times with the regionalization strategy, Amazon needs to quickly analyze datapoints and patterns for hundreds of thousands if not millions of products in order to determine where—and potentially why—certain items are in demand in certain geographic areas. Those items will then be fulfilled to warehouses that are in a hotspot. Perego told the outlet that the plan is working, and that 74% of products shipped to customers are from warehouses in their region. gizmodo.com

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