What is Google AMP?
The Google AMP Project is a way of fast-tracking content to mobile devices. It improves upon the traditional model of serving mobile content because it relies on a specific form of HTML, called AMP HTML, to strip down the presentation of content. Mobile’s mix is ever increasing and delivering the right experience at high speed is key to success
Why is Google AMP important for SEO?
As Google often preaches to the industry, page speed and mobile-readiness are high-quality ranking distinctions that determine the placement of a site’s content link in the search engine results pages (SERPs). The faster a site is (among other ranking signals), and the more it caters to mobile devices, the more likely it is to be seen and clicked on by Google search users.
Since 2013, Google has been evolving from being the company that provides links to other sites in search results to the company that provides answers to questions in search results.
There is an excellent article on how ot works