Latest news with #AndrewJassy
Yahoo
30-06-2025
- Business
- Yahoo
Amazon boss tells staff AI means their jobs are at risk in coming years
The boss of Amazon has told white collar staff at the e-commerce company their jobs could be taken by artificial intelligence in the next few years. Andrew Jassy told employees that AI agents – tools that carry out tasks autonomously – and generative AI systems such as chatbots would require fewer employees in certain areas. 'As we roll out more generative AI and agents, it should change the way our work is done,' he said in a memo to staff. 'We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs. 'It's hard to know exactly where this nets out over time, but in the next few years, we expect that this will reduce our total corporate workforce.' Amazon employs 1.5 million people worldwide, with about 350,000 working in corporate jobs such as software engineering and marketing. At the weekend the chief executive of the UK telecoms company BT said advances in AI could lead to deeper job cuts at the company, while Dario Amodei, the chief executive of the AI company Anthropic, said last month AI could wipe out half of all entry-level office jobs. Jassy said in the near future there would be billions of AI agents working across companies and in people's daily lives. 'There will be billions of these agents, across every company and in every imaginable field. There will also be agents that routinely do things for you outside of work, from shopping to travel to daily chores and tasks. Many of these agents have yet to be built, but make no mistake, they're coming, and coming fast,' he said. Jassy ended the memo by urging employees to be 'curious about AI' and to 'educate yourself' in the technology and take training courses. 'Those who embrace this change, become conversant in AI, help us build and improve our AI capabilities internally and deliver for customers, will be well positioned to have high impact and help us reinvent the company,' he said. The Organisation for Economic Co-operation and Development – an influential international policy organisation – has estimated the technology could trigger job losses in skilled white-collar professions such as law, medicine and finance. The International Monetary Fund has calculated 60% of jobs in advanced economies such as the US and UK are exposed to AI and half of these jobs may be negatively affected. However, the Tony Blair Institute, which has called for widespread adoption of AI in the public and private sectors, has said the technology could displace up to 3m private sector jobs in the UK but the net loss will be mitigated by the technology creating new roles.
Yahoo
19-06-2025
- Business
- Yahoo
Symbotic (SYM) Soars 14.57% on Amazon's Automation, Robotics Adoption
We recently published a list of These 10 Stocks Boast Double-Digit Gains Amid Boring Market. Symbotic Inc. (NASDAQ:SYM) is one of the best-performing stocks on Thursday. Symbotic surged by 14.57 percent on Wednesday to close at $35.70 apiece as investors gobbled up shares following Amazon CEO Andrew Jassy's letter to employees, underscoring the future of warehouse automation and robotics. In a letter to employees, Jassy underscored the company's increasing adoption of Artificial Intelligence, saying that it will need fewer people to do some of the jobs over time. 'In our fulfillment network, we're using AI to improve inventory placement, demand forecasting, and the efficiency of our robots—all of which have improved cost to serve and delivery speed,' Jassy was quoted as saying. Jassy's message spilled over to Symbotic Inc. (NASDAQ:SYM), which is heavily focused on warehouse automation and robotics, as investors placed bets on expectations of stronger demand for its solutions amid the broader shift towards AI. A warehouse automation system in operation, with robotic arms managing inventory efficiently. In the first quarter of fiscal year 2025, Symbotic Inc. (NASDAQ:SYM) narrowed its net loss attributable to shareholders by 56 percent to $3.9 million from $8.8 million in the same period last year. Revenues rose by 40 percent to $549.6 million from $393 million year-on-year. While we acknowledge the potential of SYM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
Irish Examiner
18-06-2025
- Business
- Irish Examiner
Amazon boss tells staff AI means their jobs are at risk
The boss of Amazon has told white collar staff at the e-commerce company their jobs could be taken by artificial intelligence in the next few years. Andrew Jassy told employees AI agents — tools that carry out tasks autonomously — and generative AI systems such as chatbots would require fewer employees in certain areas. 'As we roll out more generative AI and agents, it should change the way our work is done,' he said in a memo to staff. 'We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs. It's hard to know exactly where this nets out over time, but in the next few years, we expect that this will reduce our total corporate workforce. Amazon employs 1.5 million people worldwide, with about 350,000 working in corporate jobs such as software engineering and marketing. The retail giant employs 6,500 people in Ireland across Amazon and AWS, including corporate offices, operations sites, data centres and a customer service centre. At the weekend, the chief executive of the UK telecoms company BT said advances in AI could lead to deeper job cuts at the company, while Dario Amodei, the chief executive of the AI company Anthropic, said last month AI could wipe out half of all entry-level office jobs. Jassy said in the near future there would be billions of AI agents working across companies and in people's daily lives. 'There will be billions of these agents across every company and in every imaginable field. There will also be agents that routinely do things for you outside of work, from shopping to travel to daily chores and tasks. Many of these agents have yet to be built, but make no mistake, they're coming, and coming fast,' he said. Jassy ended the memo by urging employees to be 'curious about AI' and to 'educate yourself' in the technology and take training courses. Those who embrace this change, become conversant in AI, help us build and improve our AI capabilities internally and deliver for customers, will be well-positioned to have high impact and help us reinvent the company. The Organisation for Economic Co-operation and Development — an influential international policy organisation — has estimated the technology could trigger job losses in skilled white-collar professions such as law, medicine and finance. The International Monetary Fund has calculated 60% of jobs in advanced economies such as the US and UK are exposed to AI and half of these jobs may be negatively affected. However, the Tony Blair Institute, which has called for widespread adoption of AI in the public and private sectors, has said the technology could displace up to three million private sector jobs in the UK, but the net loss will be mitigated by the technology creating new roles. The Guardian
The Guardian
18-06-2025
- Business
- The Guardian
Amazon boss tells staff AI means their jobs are at risk in coming years
The boss of Amazon has told white collar staff at the e-commerce company their jobs could be taken by artificial intelligence in the next few years. Andrew Jassy told employees that AI agents – tools that carry out tasks autonomously – and generative AI systems such as chatbots will require fewer employees in certain areas. 'As we roll out more generative AI and agents, it should change the way our work is done,' he said in a memo to staff. 'We will need fewer people doing some of the jobs that are being done today, and more people doing other types of jobs. 'It's hard to know exactly where this nets out over time, but in the next few years, we expect that this will reduce our total corporate workforce.' Amazon employs 1.5 million people worldwide, with about 350,000 working in corporate jobs such as software engineering and marketing. At the weekend the chief executive of the UK telecoms company BT said advances in AI could lead to deeper job cuts at the company, while Dario Amodei, the chief executive of the AI company Anthropic, said last month AI could wipe out half of all entry-level office jobs. Jassy said in the near future there will be billions of AI agents working across companies and in people's daily lives. 'There will be billions of these agents, across every company and in every imaginable field. There will also be agents that routinely do things for you outside of work, from shopping to travel to daily chores and tasks. Many of these agents have yet to be built, but make no mistake, they're coming, and coming fast,' he said. Jassy ended the memo by urging employees to be 'curious about AI' and to 'educate yourself' in the technology and take training courses. 'Those who embrace this change, become conversant in AI, help us build and improve our AI capabilities internally and deliver for customers, will be well-positioned to have high impact and help us reinvent the company,' he said. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion The Organisation for Economic Co-operation and Development – an influential international policy organisation – has estimated the technology could trigger job losses in skilled white-collar professions such as law, medicine and finance. The International Monetary Fund has calculated 60% of jobs in advanced economies such as the US and UK are exposed to AI and half of these jobs may be negatively affected. However, the Tony Blair Institute, which has called for widespread adoption of AI in the public and private sectors, has said the technology could displace up to 3m private sector jobs in the UK but the net loss will be mitigated by the technology creating new roles.
Wall Street Journal
17-06-2025
- Business
- Wall Street Journal
Amazon CEO Says AI Will Lead to Job Cuts
Amazon AMZN -0.45%decrease; red down pointing Chief Executive Andrew Jassy expects the e-commerce conglomerate will reduce its workforce because of artificial intelligence developments. Jassy said Tuesday that generative AI and agents are increasingly capable of doing more tasks at Amazon, which will impact the number and types of jobs human workers have in the next few years.
