All you need to know about Amazon’s Flywheel
Agree or not? Amazon and its AI have been ruling over the retail industry!
Artificial intelligence in Amazon was imbued since the initial days of the organization. Similarly, the Flywheel at amazon is one such AI approach of the firm that works on understanding the experience its customers are having which helps it to drive the traffic to its platform and to its third-party sellers. You might wish to know some other impact of the Flywheel, scroll ahead!
Flywheel strategy at Amazon as developed by its former CEO Jeff Bezos has improved the cost structure of the firm and improved selections of goods. Flywheel is used at the organization to ensure certain advantages it might offer, for instance of more customer loyalty, minimum effort structure, lower costs.
Having informed you about the benefit Flywheel is offering, it is equally essential to bring the negative effects of this AI. Majorly this strategy is prompting employee isolation in the firm. Jobs that can be replaced by AI, indicate that workers might lose their job roles and likewise, customers might also lose a chance of receiving human help. The Flywheel approach as is analyzed by scholars might replace human jobs and also change the manner by which a service is provided to customers.
You might be amazed to know; in the US the jobs are getting computerized so much that it is estimated around 70% of human jobs might get replaced by machines. A similar danger of human substitution also hovers around Amazon with its Flywheel concept. It also brings a moral worry for the marketers regarding the effective use of AI flywheel innovation within a public setting.
AI has for long encouraged the replacement of the human workforce, which has led to mechanical joblessness on a huge scale. Other than that, the replacement of the human workforce with the implementation of flywheel might change the necessity profiles of employees, for instance, employees might have to perform shifts in roles and must mandatorily have AI-explicit skills.
The flywheel concept at Amazon has hence been both of advantage as well as a disadvantage to the firm. I believe it depends on how the firm strategizes to use it, will determine whether it will benefit it or push it towards more of a loss.
What’s your take on Amazon’s Flywheel? Do you think it is a good strategy to come up with?