11 Best AI Assistants in 2024

2. Amazon Alexa

Insider Monkey Score: 14

Amazon.com, Inc. (NASDAQ:AMZN)’s AI virtual speech assistant service, Alexa, is accessible on over 100 million devices made by Amazon and other manufacturers. It’s intended to assist consumers in purchasing Amazon things, playing music, and controlling smart home gadgets (Echo). Many IoT devices and Amazon items come pre-installed with it. The Echo Show 8 is the most recent Alexa show device.

In its May 2024 investor letter, Lakehouse Global Growth Fund provided an update on Amazon.com, Inc. (NASDAQ:AMZN), sharing their analysis and perspective on the company’s performance and future prospects:

“Amazon.com, Inc. (NASDAQ:AMZN) delivered an impressive quarterly result that also came in well ahead of analyst expectations. Net sales increased 13% year-on-year to $143.3 billion and operating profits increased 219% year-on-year to $15.3 billion (vs the high end of guidance at $12.0 billion). As has been the case for several quarters now, the highlight of the result was the significant improvement in profitability metrics, as management continues to drive cost efficiencies across its retail operations and Amazon Web Services (AWS). Amazon delivered to Prime members at its fastest speeds ever. In March, across the top 60 largest U.S. metro areas, nearly 60% of Prime member orders arrived the same or next day, and in London, Tokyo, and Toronto, 3 out of 4 items were delivered the same or next day. Bigger picture, we continue to believe that the market underestimates the length of the runway ahead in the core retail business (note that e-commerce sales in the U.S. still only make up 15% of total retail sales) and that there is still significant margin expansion ahead as scale and efficiency benefits continue to come through.”