<div id="readability-page-1" class="page"><p>Jeff Bezos, chair of Amazon's (AMZN) board of directors, says fears that artificial intelligence (AI) will displace human workers are overblown.</p><h3>Claim 55% Off TipRanks</h3>AMZO: built for a short position on AMZN <p>In a wide-ranging interview with CNBC, Bezos dismissed fears of AI-fueled job displacement, arguing that the technology will augment workers and improve the global economy in coming years. &#34;I think those people are dead wrong,&#34; he said of AI's critics. &#34;What's really going to happen is that it's going to elevate all of these people.&#34;</p> <p>Bezos predicted that AI technologies, now and in the future, will boost productivity, resulting in deflation across a range of goods and services. However, he added that AI will only benefit the world if &#34;we let this technology play out and don't hamstring it with regulation too early.&#34;</p> <h2><strong>Layoffs at Amazon</strong></h2> <p>Bezos' comments about Amazon come after the company announced 16,000 corporate job cuts globally this year as it looks to find AI efficiencies and allocate $200 billion in capital expenditures to AI technologies. </p> <p>The comments from Bezos, who co-founded Amazon and has an estimated net worth of $272 billion, also come as public perceptions of AI turn negative. A recent Pew Research Center survey found half of U.S. adults are more concerned than excited about the increased use of AI. </p> <h2><strong>Is AMZN Stock a Buy?</strong></h2> <p>AMZN stock has a consensus Strong Buy rating among 46 Wall Street analysts. That rating is based on 45 Buy and one Hold recommendations issued in the last three months. The average AMZN price target of $318.21 implies 20% upside from current levels.</p></div>

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<p>Jeff Bezos, chair of Amazon's board, claims fears of AI displacing jobs are exaggerated, stating it will enhance productivity and benefit the economy. He warns against premature regulation of AI. This follows Amazon's announcement of 16,000 job cuts as it seeks AI efficiencies. Despite negative public sentiment towards AI, AMZN stock holds a consensus Strong Buy rating among analysts, with a target price suggesting a 20% upside.</p>

- Jeff Bezos, chair of Amazon's board, argues that fears of AI displacing workers are exaggerated and that the technology will enhance productivity and the economy.  
- He highlights that AI's benefits will be realized if allowed to develop without premature regulation, despite recent Amazon layoffs aimed at increasing AI efficiencies.  
- A Pew Research survey indicates that public sentiment is largely negative regarding AI, but Amazon stock remains attractive with a Strong Buy rating among analysts.

Amazon's (AMZN) Jeff Bezos Says AI Fears Are Overblown