Amazon (AMZN) Web Services (AWS) has found itself competing with tech giants like Microsoft (MSFT) in the AI race, with some investors perceiving AWS as falling behind.

At the 2024 Goldman Sachs Communacopia and Technology Conference, Yahoo Finance reporter Madison Mills is joined by AWS CEO Matt Garman to get his take on this situation. Garman shares his perspective on why he believes AWS is pursuing the right AI strategy, despite market concerns.

"At Amazon, we have a saying that we're willing to be misunderstood for long periods of time. For us, we felt that it was more important to actually build a baseline platform that customers could really go build real enterprise value into their applications on, as opposed to rushing in and quickly getting out chatbot technology that... looks cool and allows people to write haikus and other things like that. But that's not really the eventual place that the value is gonna come from this technology; it's not just chatbots," Garman states.

Catch Yahoo Finance's full interview with Matt Garman click here

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This post was written by Angel Smith