Amazon’s Alexa Could Have Large Growth Prospects in Offices

Amazon’s (AMZN) cloud computing business Amazon Web Services (or AWS) has decided to take its virtual assistant Alexa to offices. Alexa is the technology behind Amazon’s smart speaker, Echo. It can support businesses by facilitating conference calls, booking rooms for meetings, or finding directions. The voice-based service called “Alexa for Business” can also manage appointments, organize data, make calls, give reminders, operate lights and fans, and order supplies from Amazon with only a command directed at the Echo device.

Alexa became a household name after its launch in 2014, and now it has widened its reach to offices. Many companies like Apple (AAPL) with Siri, Alphabet (GOOGL) with Google Assistant, and Microsoft (MSFT) with Cortana have been building out their voice-activated offerings.

Alexa already has more than 20,000 abilities, which can be used and further developed by businesses. A lot of companies like SAP (SAP) SuccessFactors, Concur, Ring Central, and ServiceNow are integrating their applications with Alexa for Business. Other partners, which include Capital One and WeWork, are using Amazon Echo devices and have been building skills for office purposes.

RBC Capital Markets believes that Amazon’s Alexa has high growth prospects. A report from the firm released early this year stated that Alexa-based products such as the Echo smart speaker could contribute more than $10.0 billion in revenues for Amazon by 2020.