Amazon’s (AMZN) new AI-driven shopping assistant could be “the next big thing” for the tech giant, Cory Johnson, Epistrophy Capital Research’s Chief Market Strategist, told Schwab Network yesterday.

Moreover, it’s too early to count Amazon out of the competition to develop the best overall AI assistant, Johnson stated.

A customer entering an internet retail store, illustrating the convenience of online shopping.

The Shopping Assistant Is an Opportunity for AMZN, Johnson Says

Amazon’s recently unveiled shopping assistant, called Interests, will help users find products that align with their tastes, needs and economic status, the company stated.

According to Johnson, the tool could meaningfully boost Amazon’s revenue and enable it to connect users to its products more effectively.

So even though the tech giant develops many offerings that don’t survive for more than a year, Interests could be a positive needle mover for AMZN, Johnson reported.

Alexa Could Make a Comeback

Noting that Amazon’s Alexa assistant has fallen behind Apple’s (AAPL) Siri in many respects, AI-powered Alexa+, which is expected to be launched soon, could close the gap, the investor stated.

“Do not count Amazon out of the AI competition,” Johnson advised.

While we acknowledge the potential of AMZN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is as promising as AMZN but trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: The author owns shares of AMZN but has no intention of trading them in the next 48 hours. This article is originally published at Insider Monkey.