The Wall Street Journal reported that tech giant, Amazon (NASDAQ:AMZN) is planning on bringing in new artificial intelligence (AI) and robotics capabilities when it comes to its warehouse operations. The company intends to roll out Sequoia, a new AI and robotics system designed to revolutionize its warehouse operations.
This system promises faster delivery times and enhanced inventory management, reducing the time it takes to fulfill an order by up to 25%. Sequoia has the capability to store and identify inventory up to 75% faster.
The report quoted Amazon’s Director of Robotic Storage Technology David Guerin, “The faster we can process inventory, the greater the probability that we’re going to be able to deliver when we said we could.” Amazon expects Sequoia to comprise a major portion of its operations over a span of the next three to five years.
Is AMZN a Good Stock to Buy?
Analysts are bullish about AMZN stock with a Strong Buy consensus rating based on 41 Buys and one Hold. The average AMZN price target is $176 implying an upside potential of 33.8% at current levels.