Amazon gearing up for Alexa Version 2.0

Amazon is gearing up for a revamp of its decade-old Alexa services with the aim to incorporate a conversational generative AI with two service tiers.

According to sources, the overhauled version will be called 'Banyan' and it might feature a superior version available for a monthly fee of around $5. 

It has been named 'Banyan' after the expansive ficus trees, which symbolises the first significant update to the virtual assistant since its release back in 2014 alongside the Echo speaker line.

This new iteration, dubbed 'Remarkable Alexa', is expected to enhance the assistant's capabilities manyfold.Sources derived all this information after talking to eight current and former employees involved with Alexa, who shared these details.

Sources added that the tech giant is planning to bring out the latest version of Alexa in the market by August.

The CEO of Amazon, Andy Jassy in a recent shareholder letter, subtly hinted at a 'more intelligent and capable Alexa'. 

He however did not disclose further specifics. There might be a reason for him to not divulge any other details as insiders have warned that the plans, including pricing and release schedules, can possibly change on the basis of the progress of Project Banyan.