Cathie Wood says Amazon workers could be surpassed by robots in 2030

Per CNBC

With things like automation or ChatGPT on the rise, Ark Invest's Cathie Wood shares her thoughts on how robots could surpass Amazon workers by 2030. Woods noted that that year, Amazon could potentially have more robots than employees.

While OpenAI's ChatGPT took the world by storm, showing what artificial intelligence is capable of, Amazon has been pouring significant amounts into robots. In April 2022, the company invested $1 billion in warehouse technologies, per another article by CNBC.

Amazon's funds included investments made towards companies that focused on robotics. Amazon said during that time that they wanted to become the safest place for people to work and that their investment was towards robotic development that would complement and "coexist with people's lives."

Cathie Wood has been bullish on some of the biggest tech companies in the industry, especially Tesla. Now, the Ark Invest CEO says that Amazon could increase its use of robots in the workplace.

Wood: “Amazon is adding about a thousand robots a day. ... If you compare the number of robots Amazon has to the number of employees, it’s about a third. And we believe that by the year 2030 Amazon can have more robots than employees,”

Cathie Wood then said that it is the "dawn of the robotics age" and clarified that battery tech and AI were also included in the movement. She also pointed out cost declines in terms of improving technologies.

Amazon, however, is still testing out new tech, as seen in its decision to ditch the home delivery robot last year as it saw a slump in sales growth. The company previously tested out the Scout home delivery robot, which had a team of 400 people at that time. Still, after they decided to shut it down, the employees were offered new positions within the business.

The company has also been looking at AI for its software coding, as an employee shared that ChatGPT was being tested to see its impact on the business. They found that the AI tool did a "very good job" answering AWS customer support questions.

See flow at unusualwhales.com/flow.

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