Amazon to spend $1 billion on startups that mix AI with robots

Bipedal robot at Amazon

Enlarge / Digit, a bipedal robotic, is being examined at an Amazon facility within the US. (credit score: Monetary Instances)

Amazon’s $1 billion industrial innovation fund is to step up investments in firms that mix synthetic intelligence and robotics, because the ecommerce big seeks to drive efficiencies throughout its logistics community.

Franziska Bossart, head of the company enterprise capital arm that was arrange in 2022, informed the Monetary Instances that “generative AI holds plenty of promise for robotics and automation” and is an space “we’re going to give attention to this 12 months.”

She added that the fund’s tempo of funding would “completely” speed up in 2024. It made its first funding in a generative AI firm final 12 months, the small print of which haven’t been disclosed.

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