- Amazon's (NASDAQ:AMZN +0.2%) Alexa Fund will invest up to $100M in "developers, manufacturers, and start-ups of all sizes who are passionate about creating new experiences designed around the human voice."
- Investment decisions will be based on "the potential for unique or novel applications of voice technology that leverage the Alexa Skills Kit (ASK) or the Alexa Voice Service (AVS)," both of which were announced today and aim to create an ecosystem around Amazon's Alexa voice assistant. To date, Alexa has been built into Amazon's Echo Web-connected speaker/assistant (just became generally available for $180).
- ASK provides developers APIs to create Alexa-powered apps with custom "skills." One of Amazon's examples: "A fitness service can enable Alexa to access a user’s workout history, so a customer can say 'Alexa, ask My Fitness how many miles I have run this week.'"
- AVS provides hardware makers and their developer partners with tools for creating Alexa-powered devices and related apps. One of Amazon's examples: "A home sound system that lets customers turn on music just by saying 'Play my barbeque playlist on the back deck.'"
- Google (Now), Apple (Siri), Microsoft (Cortana), and Nuance (Dragon PC, mobile, and auto assistants) are among the other firms investing heavily voice assistant platforms, with varying levels of API support. Nuance (NUAN -0.8%) is believed to be powering Amazon's Fire TV and Phone's voice search features; no word yet on its role with Alexa.
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Earlier: Evercore downgrades Amazon, cites valuation and growing capex