Amazon CEO Andy Jassy to shareholders in annual letter: Amazon has to operate like the ‘world’s largest startup’

Amazon CEO Andy Jassy has highgligted seven points on why the e-commerce major should operate like the “world’s largest startup.” In his 2024 annual letter to shareholders, Jassy outlined principles such as focusing on customer needs, fostering a culture of builders and owners, eliminating bureaucracy, and embracing risk-taking. Jassy also pointed out the potential of generative artificial intelligence (AI), describing it as a significant technological shift. He also shared details about Amazon’s investments in AI across various layers, including the development of foundational models, managed services like Amazon Bedrock, and AI-driven applications such as the Rufus shopping assistant and enhancements to Alexa.