Amazon.Com Inc's (NASDAQ: AMZN) leadership, through Stefano La Rovere, the Director of Global Robotics, Mechatronics, and Sustainable Packaging, debunked the common belief that robots and advanced technology lead to job losses.
La Rovere emphasized how these innovations augment existing roles and spur the creation of new job categories, countering the narrative that technology displaces human workers.
Over 1,000 new technologies have been introduced across Amazon's European fulfillment centers in the past five years, involving an investment exceeding 700 million euros.
Amazon reports that this technological advancement has enriched over 50,000 jobs within the region, CNBC cites La Rovere.
La Rovere highlighted the benefits of robotics and technology in the workplace, such as minimizing the physical strain on employees, reducing unnecessary movement, and eliminating monotonous tasks.
He argues that this not only enhances the work environment but also offers employees opportunities to upskill, fostering career growth and enabling them to achieve their professional goals.
La Rovere also pointed out the creation of over 700 job categories attributed to technological adoption, exemplified by his team's efforts in automating processes within Amazon's fulfillment centers to streamline order packaging and delivery operations.
Amazon is swiftly expanding its robotics fleet, deploying over 750,000 robots to assist its workforce.
Reportedly, the company's staff count stands at 1.5 million, down from 1.6 million in 2021, reflecting a gradual reduction in its human workforce even as the number of robots has surged from 200,000 in 2019 to 520,000 in 2022.
These robots, including advanced models like Sequoia and Digit, are tasked with handling repetitive duties to boost efficiency, safety, and the speed of deliveries.
Earlier reports have highlighted Amazon's focus on leveraging AI-powered targeted advertising for the 2023 holiday season.
Furthermore, the company has incorporated sophisticated AI and robotics into its warehouse operations, enhancing inventory identification and shortening delivery periods.
Andy Jassy, the CEO, has underscored generative AI's significant role in elevating customer experiences throughout Amazon's commercial and consumer sectors.
Amazon stock gained over 92% in the last 12 months. Investors can gain exposure to the stock via SPDR Select Sector Fund - Consumer Discretionary (NYSE: XLY) and Vanguard Consumer Discretion ETF (NASDAQ: VCR).
Price Action: AMZN shares traded lower by 0.94% at $187.27 on the last check Friday.