Connect with us

Business

Amazon’s new Alexa+ is pretty good — but is that enough in the ChatGPT age?

Published

on


I’m going to start with a caveat from the top: This is not a formal product review. That’s not my background nor expertise, and if that’s what you are looking for, you are likely to walk away at least a little bit disappointed. 

What this is, is a first impression based on hands-on experience with the new Alexa from someone who was once a consistent user of Amazon’s original voice assistant. Back then, I relied on Alexa for the kind of straightforward things many of us did every day: playing music, checking the weather, requesting sports scores, setting timers, and answering the types of questions that grade-school kids would get a kick out of (“Alexa, who would win a battle between a lion and a snow leopard?”). But over the years, Alexa’s performance seemed to deteriorate– it had more trouble understanding basic requests and definitely could not hold a conversation like popular AI chatbots could.  Eventually, my family’s interest—and patience—waned.

So I’ve been waiting for a new and improved Alexa for quite some time, and when I recently received an invitation offering “early access” to the beta version of Alexa+, I was eager to take it for a verbal spin.

It’s worth noting that Amazon first announced what would become Alexa+ back in September of 2023, but the launch has been repeatedly held up amid “structural dysfunction and technological challenges,” as Fortune reported last June, and later by issues related to how slow the assistant was to respond to commands or complete actions. In February, Amazon finally unveiled details of Alexa+ at a splashy launch event, but did not launch the service widely at the time; instead, it’s been rolling out Alexa+ little by little, in a phased approach (Amazon says that millions of people now have access to Alexa+). Prime members don’t pay anything for the Alexa upgrade, but non-members will pay around $20 a month after the official launch, the company has said. For now, early access is free to Prime and non-Prime members alike. The company has not formally announced an official full public launch date.

I’ve spent some time over the last few weeks using Alexa+ for some of the same things we used its predecessor for, as well as trying out some of the new actions, like booking an Uber and restaurant reservation, that Amazon is pushing. My first impression, in short, is that the service is pretty good. If it had launched shortly after Amazon first announced an updated version of Alexa in the fall of 2023, I might have said it was very good. Its conversational abilities are real and mostly very fluid. Does it blow away voice modes from LLM-based AI assistants like ChatGPT  and Perplexity? Not in my experience. But it is vastly superior in that way to the original Alexa so will likely come as a delightful surprise to those who haven’t spent much time with those competitor services. On several occasions, though, I had to re-prompt Alexa by name in the middle of a back-and-forth conversation—I thought I had just taken a normal, mid-speaking pause but Alexa thought differently. If such instances continue to occur at public launch, it might not be a deal breaker for regular usage, but would certainly frustrate me – and I assume some others too.

Can you hear the music playing?

I also had some issues with playing Spotify using the new Alexa, unless I specified that I wanted it played on the specific Alexa device in front of me. The gadget in question was an 8-inch Echo Show device (the Echo device with a screen) to test out Alexa+ because the technology isn’t available on some of Amazon’s older speakers, including the original Pringles-box-shaped Echo speakers, one of which still sits on a shelf in our dining room. (If you don’t have an Echo device, you’ll still be able to use the new Alexa+ from the Alexa app.)

Earlier versions of the Echo smart speaker looked like cylindrical Pringles chip boxes. The new Alexa+ is not compatible with some of those earlier versions.

Cayce Clifford/Bloomberg via Getty Images

The new Alexa told me Spotify was playing, when it actually wasn’t. I thought perhaps it was somehow playing on the old Pringles-tube Echo downstairs, but that wasn’t the case. A spokesperson recommended I change the default device for Spotify in the Alexa app but honestly, the Alexa app isn’t the most intuitive and I gave up after about 10 minutes. Considering that playing music is one of the basic and common tasks for a smart speaker, this didn’t inspire a lot of confidence, but I am not ruling out the possibility that I’m overlooking a setting that would fix the issue.

The other flaws I ran into ranged from comical to frustrating. An on-screen prompt on the Echo Show advertised that Alexa could help me choose a new lunch spot, but when I queried Alexa about it the first time, she claimed she couldn’t carry out that task. 

I also made the mistake, apparently, of asking Alexa to slow down her speaking cadence at some point so I could take some hand-written notes. That simple command kicked off a minutes-long bizarro-world exchange in which I would ask Alexa to speed up or slow down her cadence, she’d reply that she had—but at a speed which was even more drastically opposite of what I had been asking. It took several minutes, but what felt like an eternity, to rectify. 

On another occasion, Alexa got snippy with me when I seemed astonished that she had instructed me to simply unplug and then reconnect my Echo device to try to solve the aforementioned Spotify issue. “It’s your problem not mine” was essentially the gist of the response. Can an AI offend me? I mean, that’d be pretty silly. But the exchange was a bit off-putting, though admittedly mildly amusing as well.

On this point, Panos Panay, the longtime Microsoft executive who joined Amazon in late 2023 to head up Alexa and its broad array of devices from Echos to Kindles to Fire TV sticks, seemed intrigued.

“We’re testing a few of the boundaries,” he told me in an interview at the company’s New York City headquarters in early July. “Like, yeah, you want a little personality out of your assistant, and you want it to feel or be personal. I think that’s okay. Where is that boundary is an interesting question.”

Alexa’s new tricks

For my daughter, Alexa+’s ability to generate images and “paintings” based on voice commands was a treat. I also tried some of the advertised “actions” that Panay and Amazon believe will set Alexa apart from competitors and transform it into more of an agent than an assistant. I asked Alexa to book a reservation for me and my wife at a new local sushi restaurant we’ve been meaning to try – and finally could with our kids staying the weekend with a relative. Disappointingly, though, Alexa replied that she couldn’t make a reservation at that restaurant – the restaurant doesn’t use OpenTable for its reservations and that’s the only current partner that Alexa+ has in the space. Alexa instead simply offered me the restaurant’s phone number which….was not exactly what i was looking for. It’s possible that Amazon ends up cutting a deal with Resy, the restaurant reservation service that the restaurant in question uses. While Panay said more partnerships were in the works, neither he nor a spokesperson would confirm specifics.

That said, ordering an Uber by voice worked seamlessly (once I agreed to provide access to my Uber account), though I do wonder how often people will opt for this experience versus simply pulling out their phone. Browsing and homing in on the cheapest soccer tickets at a nearby stadium also worked quite well though, again, I wonder if talking out loud to a virtual ticket assistant for 4 minutes is actually any better or more efficient than searching for the tickets on my phone or computer.

Panay told me beta feedback so far is “overwhelmingly positive,” and that the “conversational aspect” of Alexa+ alone—versus the prompt and response mode of the original—is delighting customers. “It’s just a part of the kitchen conversation at this point,” he noted, emphasizing his point with an anecdote about his family settling debates or open questions by querying Alexa+ rather than pulling out a phone and falling prey to all the distractions that come with it. 

“It’s the idea of being engaged with each other and having an ambient assistant there, where I’m not turning on my phone, I’m not opening an app, I’m not being distracted by whatever it is that is on my notifications,” he said.

One major caveat is that I wasn’t able to try out everything that Amazon is excited about. Panay stressed that while engagement with “traditional features” like playing music are increasing, household-management capabilities of Alexa+ are a hit with early users and he believes they’ll continue to be. In one example, he discussed giving Alexa access to a family’s calendar and then prompting it for the best weekend to get away. I haven’t tried that feature  mainly because you can’t yet link work email accounts from Google or Microsoft to Alexa+, and because our kids’ sports calendars are spread across several apps that I’m frankly too lazy to consolidate (yes, embarrassing).

“Please don’t underestimate the power of this”

Amazon’s head of devices Panos Panay at the Alexa+ launch event in February 2025

Andrej Sokolow/picture alliance via Getty Images

Panay also highlighted shopping tools powered by Alexa+ that notify you when a certain product goes on sale. And he stressed the ease with which Alexa users who have outfitted their home with smart devices—think smart lights and smart locks —will be able to speak into existence complex routines.

“Alexa, every night at 8:30, start dimming the lights in the house and then lock the doors,” he said by way of example.

That’s four separate commands in one sentence, versus what would have taken at least a dozen and a half steps within the Alexa app previously, Panos said.

“Jason, please don’t underestimate the power of this,” Panay urged me.

One approach Amazon and Panay could take would be to set expectations a bit low and then overdeliver after such a long wait. After all, the introduction of the original Alexa occurred in a really understated way; it was buried within a larger announcement unveiling a surprise device called the Echo.

But that could be dangerous in its own right, especially amid the realization that former famed Apple designer Jony Ive is now helping ChatGPT-maker OpenAI invent their own AI-powered device

“I hope others make great devices,” Panay said when asked about competitors.

Perhaps in response, though, Amazon recently said it would buy an AI wearable startup called Bee.

Panay, for his part, acknowledged that there is still work to do before the new Alexa is ready to be used by hundreds of millions of existing users. And after such a long wait—with Panay himself setting expectations high—it’s fair to wonder if “pretty good” is anywhere good enough in the new world that Amazon’s famed voice assistant is now reentering. Clearly, there’s more work to do.



Source link

Continue Reading

Business

Crypto wallets now feel a lot more like Venmo

Published

on


Crypto wallets are having a moment. The latest example is Kalshi announcing an integration with Phantom to offer event contracts to the wallet’s 15 million users. While the prediction market angle is intriguing (these markets are a HUGE story right now), the news also highlights the light-speed advancements taking place in the wallet realm.

Consider how, just three years ago, the only thing you could do with Phantom was access the Solana blockchain. MetaMask, meanwhile, was limited to Ethereum. Sure, alternatives like Coinbase Wallet offered access to more assets but, like other wallets of the time, it suffered from a ghastly interface that required users to run a gauntlet of sub-nets, confusing gas fees, and more. The experience was miserable for crypto natives. For everyone else, it was nigh impossible.

Then something changed. After years of promises, developers finally succeeded in pushing the clunky technical elements to the background, while adding a host of practical features. The result has been an uptick in useful real-world applications, including Phantom’s Kalshi offering, and also in souped-up new offerings like Coinbase’s rebranded Base as well as Robinhood Wallet.

This new generation of wallets offers the best aspects of decentralized crypto by making the customers the ultimate custodians of their assets. At the same time, they offer interfaces that are starting to feel like Venmo or online banking apps—which should be table stakes for any of these products looking to break into the mainstream. The question now is where these wallets will fit in day-to-day life. Will they become the successor to web browsers, as Coinbase CEO Brian Armstrong and others have predicted, or will they be something else entirely?

JP Richardson is the founder and CEO of Exodus, another leading wallet that recently added a suite of stablecoin payment tools. He told me the browser analogy doesn’t really fit, arguing wallets are better seen as a superior type of banking app—one that will be able to bridge disparate financial services. “We believe it should not be three apps, it should be one app. Why can’t you take your brokerage app, and tap and buy groceries?” he asked.

Trevor Traina, the founder of a wallet called Kresus, whose customers include Sotheby’s auction house, has another take. He believes the tools will have a much broader footprint. He sees a world where wallets are not just for managing our assets, but also become repositories for vital documents such as a will, insurance, or a law license. 

The technology is certainly there to support Traina’s vision. That includes blockchains, which can supply a permanent and tamper-proof ledger, but also newer privacy tools like zero-knowledge proofs. Together, this tech provides a way to safeguard all of one’s personal data, while also being able to meet the constant need to show identification that modern life demands. All of this could get more interesting still if wallets like Sam Altman’s World App, which includes an anti-bot biometric layer, get more traction.

Now for the cold water: Just because you build it doesn’t mean they will come—or come anytime soon at least. I spoke with analyst James Wester, one of the shrewder observers of the crypto and fintech scene, and he pointed out that the idea of an “everything app” has been around for years but shows few signs of getting adopted. A big reason for this is inertia.

Right now, our existing apps and payment tools work pretty well, so it’s unlikely we’ll see mass wallet adoption anytime soon without some sort of external nudge. Wester points out that Apple Pay and Google Pay have been around for a decade, yet a huge number of people keep paying with physical cards—because they can. This will change as younger people who are well versed in tech and crypto make up a greater portion of the economy. But until then, wallet makers may have to find a way to make their suddenly attractive products downright irresistible.

Jeff John Roberts
jeff.roberts@fortune.com
@jeffjohnroberts

DECENTRALIZED NEWS

Stablecoins at YouTube: In a landmark moment for crypto in mainstream commerce, YouTube is now giving U.S. creators on the platform the option to receive payment in the form of PayPal’s stablecoin PYUSD. (Fortune)

Circle’s new privacy coin: Stablecoin giant Circle is working with an upstart blockchain called Aleo to issue a spin-off of its flagship token called USDCx, which will let banking clients obscure private transaction histories. (Fortune)

Charters for all: The OCC issued national trust bank charters to Circle, Ripple, BitGo, Paxos and Fidelity Digital Assets. The move comes amid a broader move by the agency to issue more such charters, which do not allow taking customer deposits or accessing FDIC insurance. (Axios)

Tokenization tipping point? The SEC issued a no-action letter to the DTCC, which will let the country’s main clearing house custody stocks on the blockchain. The permission applies only to 1,000 of the most liquid stocks, but is a key first step for what is likely to be a wholesale shift toward putting custody and record keeping on-chain. (Bloomberg)

Think I’ll buy me a football team: Tether, whose CEO is Italian and a lifetime fan of Juventus, made a bid to buy the storied football club. Its board rebuffed the offer even as the publicly-traded club struggles to keep up with financial dominance of Premier League teams and Real Madrid. (Reuters

MAIN CHARACTER OF THE WEEK

Do Kwon in Podgorica, Montenegro, in 2024—before he was extradited to the U.S.

Filip Filipovic—Getty Images

Do Kwon is arguably the second most notorious fraudster in crypto history. Now, the Terra Luna founder, known for his “steady lads” rallying cry, will get to test how steady he is after a U.S. judge sentenced him to 15 years in prison. If it’s any consolation, this earns him Fortune Crypto’s weekly Main Character designation.

MEME O’ THE MOMENT

Satoshi Nakamoto wanted to reinvent finance. Now, he’s at the New York Stock Exchange.

@NYSE

The cult of Satoshi keeps spreading as the New York Stock Exchange becomes the latest venue to install a physical statue of the Bitcoin creator. 



Source link

Continue Reading

Business

Magnificent 7 isn’t that magnificent: 5 stocks have underperformed the market this year

Published

on



S&P 500 futures were up 0.44%  this morning after the index lost 1.07% on Friday, a day after setting a new all-time high on Dec.11.

The index is still up 16% year-to-date—an above-average performance for U.S. stocks. Analysts have long complained that the index is dominated by the “Magnificent 7” tech stocks. Between October 2022 and November 2025 roughly 75% of gains in the S&P 500 came from this handful of companies.

But as we draw near to the close of the year, only two of those stocks—Alphabet and Nvidia—have beaten the market as a whole, year to date:

What appears to be happening is that investors are picking between winners and losers in tech, as opposed to just herding into the index or tech stocks as a whole. That’s probably healthy if you are worried that AI spending is creating a bubble in tech stocks.

The best example of this is Oracle, which is up a respectable 14% year to date but has declined 42% from its high in September. Investors have not liked the extra debt that Oracle has taken on, at increasingly wider interest spreads above the risk-free benchmarks, to fund its AI buildout. 

Wall Street is not yet ready to declare the AI gold rush a bubble. “If this is a bubble, it is still in its early stages,” Deutsche Bank analysts Adrian Cox and Stefan Abrudan said in a recent deep-dive research note on AI.

Thus far, the capital expenditure and the revenue is real: it’s hitting the top and bottom lines of Alphabet and Nvidia, and that’s why valuations for those companies are so healthy. “The charge is led by well-established Big Tech companies with multiple revenue streams, who are paying for their investment in data centers mostly out of free cash flow and from which they are generating immediate returns from enterprise customers,” Cox and Abrudan wrote.

“We think that reports of a bubble are exaggerated (for now),” they said.

Elsewhere: Asian markets were down today but markets in Europe largely rose in early trading. The STOXX Europe 600 was up 0.63% at the time of writing; The U.K.’s FTSE 100 was up 0.74%.

Here’s a snapshot of the markets ahead of the opening bell in New York this morning:

  • S&P 500 futures were up 0.44%  this morning. The last session closed down 1.07%. 
  • STOXX Europe 600 was up 0.63% in early trading. 
  • The U.K.’s FTSE 100 was up 0.74% in early trading. 
  • Japan’s Nikkei 225 was down 1.31%. 
  • China’s CSI 300 was down 0.63%. 
  • The South Korea KOSPI was down 1.84%. 
  • India’s NIFTY 50 was down 0.12%. 
  • Bitcoin was at $89K.
Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.



Source link

Continue Reading

Business

Visa launches stablecoins advisory practice to keep up with crypto wave

Published

on



Another major financial institution is doubling down on stablecoins and on crypto. This time, it’s Visa. The company announced on Monday the launch of its Stablecoins Advisory Practice, a service which aims to aid fintechs, banks, and other businesses with their strategy and implementation of stablecoins. 

“Helping our clients grow is frankly the reason we exist in stablecoin,” said Carl Rutstein, global head of Visa Consulting and Analytics, in an interview with Fortune. “What Visa is doing in this space is just one more area where our clients have a need.” 

Stablecoins are a type of cryptocurrency designed to maintain a constant value by means of reserves that peg them to a fiat currency, typically the U.S. dollar. They have recently been embraced by a wide range of companies from the traditional financial sector following President Donald Trump’s signing of the Genius Act in July, legislation which creates rules for issuing the digital asset. In the months since, other payments powerhouses like Paypal and Mastercard have boosted their stablecoin capabilities. 

Rutstein said that Visa’s stablecoins advisory has dozens of clients, among whom are Navy Federal Credit Union, the credit union VyStar, and a financial institution called Pathward. He said the practice will help businesses with their strategy, tech and operations, and implementation of stablecoins. Its clients use cases for stablecoins include cross-border transactions, especially to countries with volatile currencies, and business-to-business transactions. After using Visa’s advisory, Rutstein said some businesses may push forward with stablecoins, while others may conclude there is not a customer need. The company said that it expects the practice will grow to hundreds of clients. 

Visa is by no means new to crypto. In 2023, the company piloted stablecoin settlement using USDC, and it now has over 130 stablecoin-linked card issuing programs in more than 40 countries. Visa also has about $3.5 billion in annualized stablecoin settlement volume. 

“Stablecoins may represent an opportunity to enhance speed and lower cost in payments,” said Matt Freeman, senior vice president of Navy Federal Credit Union, in the statement. “So with the support of Visa, we are evaluating how this technology could fit into our broader strategy to deliver meaningful value to our 15 million members worldwide.”

Join us at the Fortune Workplace Innovation Summit May 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.



Source link

Continue Reading

Trending

Copyright © Miami Select.