Tech giant Meta has been expanding its ventures with recent investments in AI technology in hopes of competing with the likes of ChatGPT. The company, through its CEO Mark Zuckerberg, has made an announcement of exploring “chat experiences” in WhatsApp, Messenger and also the Metaverse. Additionally, the Silicon Valley-based firm is harnessing the power of AI to create visual tools for adverts and Facebook and Instagram posts.
The move indicates Meta recognizing the importance of AI for it to remain a leader in the market. To meet their objective, the company is prepared to put forth massive investments of $33 billion in AI technology. The investment is just part of the company’s cost-cutting measures as the tech giant had to cut 10,000 from its current workforce.
Despite the investment, Meta seems to be doing fine as the recent quarterly earnings report suggested that the sales for the tech giant has increased for the first time in three quarters. The win can be attributed to Instagram’s new Reel feature which has kept users on the app for an additional 24%.
At the moment, the company is developing LLaMa – a large-scale conversational language model along the lines of ChatGPT, Bing Chat, and Google Bard. The unsupervised training model is well equipped to handle advanced prompts with its 65 billion parameters. Despite this, it still is not yet close to the 175 billion of ChatGPT.
Meta is a Silicon Valley based technology company with a mission to make the world more connected. It was founded by Mark Zuckerberg in 2004 and is currently one of the world’s largest technology companies. Meta is the parent company to several popular social media platforms including Facebook, Instagram, and WhatsApp. The company has created tools designed to bridge people from different walks of life and build meaningful communities.
Mark Zuckerberg is an American technology entrepreneur and one of the world’s most influential people. He co-founded Facebook in 2004 and has served as its CEO and board director ever since. Zuckerberg has invested heavily in the company’s mission to give people the power to build community and bring the world closer together. His other ventures include investing in a wide range of artificial intelligence technologies and founding the Chan Zuckerberg Initiative, a philanthropic organization that focuses on the welfare of humanity.
