Despite tariffs, Andy Jassy says Amazon hasn’t ‘seen prices appreciably go up,’ so far

In an interview with CNBC on Monday, Jim Cramer, Amazon CEO Andy Jassy said that the technology giant has not seen significant price increases and explains the mitigation strategies used by its company and vendors.

“We made too much purchase a few months ago, and then most of our sellers used too many inventory to avoid some problems with the uncertainty about the recipes.” He said. “And so far, we have not seen prices have increased very significantly.”

President Donald Trump has released extensively comprehensive tariffs on imports from many countries, including China, a large supplier for Amazon and sellers.

Jassy said there were about two million vendors in Amazon’s market. Some sellers raise the prices to customers, even if they transfer tariff expenses, instead of “the share will not increase prices” will not be many people, he said. Jassy added that this kind of diversity in the market helps customers.

He also detailed the way artificial intelligence changes the work and was called the productive AI “the most transformative technology of our lives”. Jassy, ​​like artificial intelligence, “really unusual transformative technology”, said there are two options – leaning on the new technology and “to keep it away and then make it to you”. Amazon said he chose the first he said it was historically a better choice.

Lately memory Jassy told employees that AI will shrink Amazon’s labor force. He told Cramer that AI would mean less work for employees and make their jobs more interesting, and they all said that they can “start each task at a more advanced starting point”. Authorized, over time, robotics and artificial intelligence will be recruitment, he said.

AI will change the dynamics not only for workers, but also for customers, Jassy continued. He argued that robots may not be far away from the widespread use of consumer.

“I think most consumers will have robots at home in the next decade.” He said. “I think you’ll see that really big personal assistants like Alexa will be in these robots and will help you a little in your home.”

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