Amazon is developing a new AI chatbot named "Metis" to rival OpenAI's ChatGPT, promising to provide more up-to-date responses and perform complex tasks like a virtual assistant. Powered by the internal AI model Olympus, Metis aims to offer smart, conversational text and image-based answers, suggesting follow-up queries and generating images. The AI assistant will use retrieval-augmented generation to retrieve information beyond its training data to provide current stock prices and more. Amazon's CEO, Andy Jassy, is directly involved in the project, expected to launch in September alongside a major Alexa event. While Amazon faces tough competition in the AI-assistant market, Metis represents the company's ambitious leap into AI development, aiming to catch up with rivals in the race for advanced AI technology.