This month, three of Amazon's senior leaders participated in the flagship yearly European Business Summit in Brussels, engaging in discussion and contributing insights across critical themes such as economic resilience, sustainable growth, and technological innovation. Attendees had the opportunity to explore our exhibit to learn more about Amazon’s presence and investments in the EU.
Russell Grandinetti, Senior Vice President for International Stores - a competitive and resilient European Union
Russell Grandinetti, Senior Vice President for International Stores, engaged in a fireside chat that directly addressed building a competitive and resilient European Union in the face of global challenges. He reflected that Amazon has been investing in the EU since 1998, and making long-term investment decisions in people, buildings and technology. Our EU businesses are a big part of who we are, where we’ve come from, and where we want to go. Given that we employ more than 150,000 people in the EU, and have invested more than €180 billion since 2010, we see the importance of a strong, and stable, EU policy framework.
Russell referenced the report on the ‘future of European competitiveness’ by Mario Draghi, in particular the focus on productivity, and a number of its key recommendations for boosting EU competitiveness - for instance closing the innovation gap, enhancing productivity through technology diffusion, and deepening the Single Market to create scale. Increasing productivity also means doing more with less. The good news is that the technology is available, and Russell advocated a supportive regulatory framework for future-oriented technologies, including AI, automation, and satellite systems, underscoring the need for coherence with global standards.
Legislation should also be simple enough for the small and medium sized enterprises (SMEs) to harness the EU Single Market. Harmonisation, simplification, and consistent enforcement of existing rules are critical to ensuring a frictionless EU market for SMEs. We care deeply about the more than 127,000 small and medium sized enterprises (SMEs) operating in the EU, who in 2023 were able to sell 1.3 billion products worldwide via Amazon, generating over €14 billion in export sales.
Lucy C. Cronin, Vice President for Public Policy - investments in a green and clean transition
Lucy C. Cronin, Vice President for Public Policy, took part in a panel discussion on investments and a green and clean transition, reflecting on Amazon's strong support for the EU Green Deal as an enabling regulatory framework to catalyse the transition. She underscored Amazon's role in stimulating demand for low-carbon technologies, including investing in 180 wind and solar projects in Europe, from Ireland and Greece to Portugal and Poland, and committing to spend €1 billion EUR in the coming years to further electrify our transport network. She stressed that for the EU to progress, competitiveness and sustainability must go hand in hand.
James Waterworth Director for Public Policy – AI and Innovation
During the “AI Regulations: a Threat or a Way to Innovation” panel, James Waterworth Director for Public Policy emphasised that Amazon is committed to responsible AI development, whilst innovating for customers and sellers. For example, the recent launch of Rufus, a generative AI-powered shopping assistant, AI tools supporting over 30,000 European sellers, and AWS's support for more than 100,000 customers innovating with ML and AI. He also stressed the need for future digital policies that foster innovation and competitiveness, whilst ensuring appropriate guardrails.
Amazon’s Exhibit: Showcasing Our Commitment to European Innovation and Growth
Complementing our leaders' participation, Amazon presented an exhibit that illustrated our contributions and commitments to the European Union, where we've been operating since 1998.
The exhibit featured an interactive map highlighting our substantial investments across EU member states, including more than €30 billion in 2023 alone. It also highlighted our role in creating growth opportunities for small and medium-sized enterprises (SMEs) across the EU. In 2023, more than 127,000 EU-based SMEs sold products in our stores, generating more than €11 billion in intra-EU sales.
Visitors went behind the scenes at our fulfilment centres, learning about our investments in skills training and safety.
The exhibit demonstrated ways we are using AI and ML to enhance the experience of our customers, selling partners and employees – and reduce our environmental footprint. Sustainability was a key focus, with updates on The Climate Pledge, our commitment to reach net-zero carbon emissions by 2040, and our investments in The Climate Pledge Fund and the Right Now Climate Fund.
This display reinforced the themes of competitiveness, innovation and resilience discussed in the panel sessions, reflecting Amazon's approach to contributing to the EU's economic and environmental goals.
