The online retail firm has become the latest tech giant to announce plans for a sharp rise in AI spending.

Andy Jassy, Amazon's chief executive, said as the company announced the latest financial results: "It's an unusual opportunity.

"I passionately believe every customer experience we have today will be reinvented by AI. We're going to invest aggressively."

The announcement actually prompted a drop in Amazon's share price, with Mary Therese Barton, chief investment officer at Pictet Asset Management, explaining that the news prompted "jitters" on Wall Street.

She told the BBC: "It has definitely been a bit of a rupture and a bit of a wake up call as well, in terms of 'are these investments in AI going to come good?'"

Meanwhile, Dr Richard Fletcher previously claimed that attitudes towards AI often depend on where it's applied.

He explained to the BBC in 2024: "People’s hopes and fears for generative AI vary a lot depending on the sector.

"People are generally optimistic and about the use of generative AI in science and healthcare, but more wary about it being used in news and journalism, and worried about the effect it might have on job security."