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Amazon (AMZN) Boosts Cloud Portfolio With New Capabilities

Amazon's (AMZN) AWS unveils the latest capabilities for Amazon Connect namely, Amazon Connect Wisdom, Amazon Connect Voice ID and high-volume outbound...

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Amazon’s AMZN cloud computing arm Amazon Web Services (“AWS”) has unveiled three capabilities for Amazon Connect in a bid to strengthen its contact center technology offerings.



Three capabilities namely, Amazon Connect Wisdom, Amazon Connect Voice ID and automated outbound communications, are well-equipped to aid the contact centers in delivering better customer service.



Notably, Amazon Connect Wisdom identifies customer issues during calls, automatically using Machine Learning (ML)-backed speech analytics. It then suggests content in real-time to help agents solve the issues quickly. The content is arranged by Amazon Connect Wisdom from the homegrown databases and third-party knowledge repositories.



Then again, Amazon Connect Voice ID leverages ML-backed voice analysis to offer real-time caller authentication, without disrupting natural conversation.



Meanwhile, automated outbound communications help organizations to connect to several customers seamlessly on a daily basis, as it offers embedded high-volume outbound communications across multiple channels.



We note that Amazon Connect Wisdom and Amazon Connect Voice ID are generally available, whereas high-volume outbound communications capability is in preview.



We believe that the new capabilities are likely to accelerate the adoption rate of Amazon Connect. Notably, Amazon Connect is currently being used by tens of thousands of customers who support more than 10 million contact center interactions on a daily basis.

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Amazon.com, Inc. Price and Consensus

 

Amazon.com, Inc. Price and Consensus

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Expanding Portfolio

The latest move bodes well for the growing efforts of AWS toward expanding its product and services portfolio.



Apart from the recent Amazon Connect capabilities, the company made its new capability in QuickSight called Amazon QuickSight Q generally available. Amazon made its new storage service called Amazon FSx for NetApp ONTAP generally available as well.



The company made its fully managed data visualization service called Amazon Managed Grafana generally available. The service allows customers to track operational and IoT data from various sources by creating Grafana dashboards seamlessly.



The company made its fully managed in-memory database — Amazon MemoryDB for Redis — generally available. Amazon MemoryDB is Redis-compatible, which helps in the storage of the entire datasets in memory.



The company announced the general availability of Amazon EBS io2 Block Express volumes, which bolstered AWS’s storage area network capabilities. EBS io2 Block Express volumes are equipped with SAN features like multi-attach and elastic volumes.



The company announced the general availability of Amazon Healthlake, which extracts and analyzes important health-related information, and securely stores them on the cloud.



We believe that the expanding AWS portfolio will continue to aid Amazon’s dominance in the booming cloud market.

Expanding Customer Base

We believe that the expanding AWS portfolio will continue to aid AWS in winning customers.



Recently, AWS got selected by Arctic Wolf Networks as the primary cloud provider. Notably, Arctic Wolf will leverage AWS’s containers, serverless, analytics, database, compute, and storage to bolster its cloud-native security operations platform.



Sun Life SLF picked AWS as its long-term cloud technology provider. Sun Life will leverage analytics, ML, storage, security, and databases to deliver an enhanced digital experience to customers.



AWS collaborated with Wyndham Hotels & Resorts. AWS’ cloud technologies will be used by Wyndham for developing digital services and providing better experiences to customers across 21 hotel brands. Notably, Wyndham has selected AWS as its preferred cloud provider.



We believe that the expanding customer base will continue to drive AWS’s top line. In second-quarter 2021, AWS generated revenues of $14.8 billion (13% of Amazon’s net sales), which rose 37% year over year.



Strengthening clientele will continue to aid its competitive edge against peers like Microsoft MSFT, Alibaba, IBM and Alphabet’s GOOGL Google, who are also leaving no stone unturned to strengthen their cloud market position.



Currently, Amazon carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.



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