This year, Amazon plans to increase its investment in startups that bring artificial intelligence to robots.
Franziska Bossert, head of Amazon’s $1 billion Industrial Innovation Fund, told the Financial Times on Wednesday that Amazon is investing in generative AI this year, particularly combining generative AI and robotics to increase Amazon’s He said he will focus on startups that support broad business objectives. Logistics automation in warehouses remains a priority for the company.
“This year, we hope to further establish the fund as the venture investor of choice for innovative startups of all sizes in the robotics, fulfillment and logistics space,” Bossert said in a press release. He also revealed that advances in AI are helping automate a “broader range” of responsibilities for the company.
Related: Klarna says its AI assistants are doing the jobs of 700 people. The company laid off the same number of employees two years ago.
For example, Amazon announced last year that it would run a pilot with Agility Robotics to test its bipedal robots in warehouses.
Agility Robotics’ bipedal robot in action.Credit: Amazon
Bossard said: financial times Automation through new hardware and software will not completely eliminate workers, but rather shift them away from hazardous or repetitive tasks.
“We are far from replacing everyone,” Bossert told the outlet.
Separately, Bossert said Amazon’s Innovation Fund will increase investments in autonomous driving this year, but other companies appear to be taking a different path. For example, Apple on Tuesday canceled a 10-year project to develop a self-driving, all-electric car.
Related: Apple cancels 10-year electric car project, transfers some employees to AI division
Amazon’s Innovation Fund, established in 2022, seeks to support startups developing automation tools for warehouses. The company invests directly in startups and currently has 10 listed portfolio companies, seven of which are in the robotics industry.
Click here to apply for the fund.
