Ring, which is a division of e-commerce giant Amazon (AMZN), is introducing a new AI-powered feature that sends users alerts about unusual or suspicious activity around their homes. Indeed, the technology creates short, AI-generated summaries of motion events that are captured by Ring doorbells and cameras, which appear as phone notifications. These summaries focus only on the most important subject that triggered the alert and are designed to be brief so users can quickly determine if immediate action is needed.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
It’s worth noting that the feature is launching in beta for premium Ring subscribers in the U.S. and Canada and is part of Ring’s push into artificial intelligence, according to CEO Jamie Siminoff, who returned to lead the company in April after stepping away in 2023. Amazon acquired Ring in 2018 for around $1 billion in order to expand its reach in smart home and security tech. And while Ring started with video doorbells, it now offers a variety of devices, such as floodlight cameras, alarm systems, and even security drones.
However, Ring’s expansion into AI comes with controversy. The company has faced criticism in the past for its partnerships with U.S. police departments, which had some people worried about privacy and racial profiling through its Neighbors app. In response, Ring removed a feature in 2024 that previously let law enforcement directly request user footage.
What Is the Price Target for AMZN Stock?
Turning to Wall Street, analysts have a Strong Buy consensus rating on Amazon stock based on 47 Buys and one Hold assigned in the past three months. Furthermore, the average AMZN stock price target of $243 per share implies 14.1% upside potential from current levels.
