Mark Zuckerberg, CEO of Meta, has made it clear to investors this Wednesday that his company remains invested in the competitive artificial intelligence (AI) technology. He mentioned it no less than 22 times during his initial presentation and five more times during the Q&A session. In total, AI was mentioned 57 times during the earnings call this week.
Zuckerberg stated that AI is a “key theme” of Meta and that it is going to make an impact on every service or application operating under its name. It has already made a noticeable improvement on Instagram, one of the many services Meta offers; according to the CEO, its usage rate increased by 24% after the launch Reels, its AI-powered feature.
He added that the language model, LLaMA, could be available to more users in the future. Later on in the earnings call, he emphasized Meta has not abandoned its plans for the metaverse, mentioning it less than 90 seconds.
The CEO made it clear that Meta invests in AI, but it is not the only one claiming its commitment to the technology. Microsoft CEO Satya Nadella and Alphabet CEO Sandar Pichai used the word AI more than 25 times during their earnings calls respectively.
Meta’s CFO stated that the company is planning to spend around $30 billion to $33 billion in 2023 in order to support AI and its services such as ads, Feed and Reels. Additionally, they will invest an increased amount to its Generative AI initiatives.
Meta is a well-recognized tech company engaged in the development of AI technology. It is headquartered in California, and its services span across online operations, digital media, communications, and marketing among many other areas. Founded by Mark Zuckerberg, Meta works to bring the power of AI to users across the world through its many apps and services.
