Amazon (AMZN) has scheduled an event for Feb. 26, where it is widely expected to unveil a new Alexa digital assistant that’s powered by advanced artificial intelligence (A.I.).
The e-commerce company has confirmed that the event taking place in New York City will include news about Alexa.
The technology giant has been teasing for several years the release a new version of its voice-activated Alexa device that contains advanced A.I. capabilities.
The company first previewed a redesigned Alexa back in 2023, demonstrating a live conversation between a company executive and the voice assistant as part of a yet-to-be-released feature called “Let’s Chat.”
Amazon did not hold its usual autumn event last year where it announces new products.
The company faces rising competition in generative A.I.-enabled devices from rivals such as Alphabet (GOOGL) and Microsoft (MSFT).
There are rumors that Amazon plans to charge a monthly subscription fee for the new Alexa voice assistant to help cover the steep costs involved in making the technology.
Although hundreds of millions of customers worldwide have Alexa-enabled devices in their homes, Amazon has struggled to monetize the product.
Media reports claim that Amazon has lost tens of billions of dollars over the years on its various devices, though the company has never acknowledged or confirmed those reports.
The stock of Amazon has increased 40% in the last 12 months to trade at $236.17 U.S. per share.
