- Following the popularity of ChatGPT, Meta is rushing into generative AI.
- Mark Zuckerberg said Meta will create a new “top-tier product group” focused on generative AI.
- But in the constant pursuit of the Metaverse, Meta lost about $14 billion in 2022.
After chasing the Metaverse, Meta now lives up to the AI hype.
CEO Mark Zuckerberg has created a new “top-tier product group” focused on generative AI (AI that can create content) and “builds delightful experiences around this technology across our range of products. ‘, he said. Facebook Posted on Monday.
“Long-term, we will focus on developing AI personas that can help people in a variety of ways,” he said, adding that Meta will use WhatsApp and Messenger texts and Instagram images to explore AI experiences. I added that there are.
Zuckerberg didn’t specify in his post what he meant by top-level.
Meta’s foray into generative AI follows a huge rush into the technology that followed. Chatbot ChatGPT has gone viral. Big tech rivals Google, Microsoft, and Snapchat have all released their own versions of AI bots.
But Zuckerberg’s foray into AI followed his foray into another product, the Metaverse, a version of virtual connectivity that Zuckerberg envisions as the future of the Internet. His constant pursuit of the Metaverse has cost him $13.7 billion in 2022.
2021 vs 2023
But times are very different compared to 2021, when Facebook’s parent company announced a strategic pivot to the metaverse. The entire tech industry is reeling from mass layoffs. Companies that overhired during the e-commerce boom during the pandemic are now facing a drop in demand.
Meta is no stranger to these challenges. To cut costs, Meta promised in November that he laid off 11,000 people and that 2023 would be the “year of efficiency.”
Meta’s Reality Labs, which builds the metaverse, will also be a target for the company’s efficiencies, Zuckerberg said in a company statement. Fourth Quarter Financial Results Announcement Measures include flattening the organizational structure, just like the rest of the company.
Meta is also looking to monetize more revenue streams. has launched a paid subscription program. Facebook and Instagram Called Meta Verified, it will start at $11.99 per month when purchased via a web browser, Zuckerberg announced last Sunday.movement — similar to The Twitter Blue program — could bring in $2 billion in revenue for Meta, according to Wall Street analysts.
Meta shares closed 0.5% higher at $169.54 on Monday, up nearly 41% so far this year.