More than four months ago in New York City, Amazon executive Panos Panay said a new version of the Alexa virtual assistant would soon launch on the web at Alexa.com. The announcement set the voice-centric, artificial-intelligence-powered assistant that was first launched in 2014 on a new collision course with the popular text-heavy whippersnapper ChatGPT.

But documents from inside Amazon suggest the company underestimated the work needed to launch Alexa.com.

Following the big reveal in February, staff were told that Alexa.com, code-named Project Metis, would launch at the end of June, according to documents seen by The Washington Post. But in late June, Amazon managers told staff that the site would become available no sooner than July 31, according to the documents.

— The Washington Post

Kenvue says that Thibaut Mongon is stepping down as its CEO as the maker of Listerine and Band-Aid brands continues with a strategic review of the company.

Kenvue used to be a part of Johnson & Johnson. J&J announced in late 2021 that it was splitting its consumer health division from the pharmaceutical and medical device divisions in a bid to make each more nimble.

Kenvue said Monday that board member Kirk Perry will serve as interim CEO, effective immediately. Perry has served as a director since December and most recently served as CEO of Circana, a provider of market research. He spent more than 20 years at Procter & Gamble in various roles.

— The Associated Press

Castlelake LP has agreed to purchase as much as $2.5 billion of consumer loans from financial technology firm Pagaya Technologies, the latest in a string of deals for the AI-driven lender.

The firm will buy the loans over a 16-month period through a so-called forward flow agreement, by which investors agree to snap up the loans before they are originated, according to a statement. The deal will help fund the expansion of Pagaya’s personal loan program.

Private credit lenders have been increasing their footprint in the $5.2 trillion asset-based finance market, which includes anything from consumer loans to mortgage debt. Pagaya uses artificial intelligence to help vet consumers when deciding whether to extend credit.

— Bloomberg