Meta AI

Mark Zuckerberg changed his focus in 2023 from the metaverse to AI. His ability to change his mind is remarkable, especially since he had already rebranded the Facebook group as Meta Platforms.

It now seems that spending billions on trying to create an appealing metaverse was wasted. Maybe Meta is just too early? At this time, consumers do not want to "live" in an online world.

The Meta share price tripled last year thanks to the redeployment of data centres to AI projects, improved advertising technology, and a user rebound in Facebook.

Meta's AI research team was established in 2013, but was largely unseen by the outside world. In 2023, they deployed predictive AI tools that figure out what social media users are interested in, to ensure that advertisers can target their sales pitches appropriately, and get more value for money.

Meta has also released its own AI model, which it gives away for free as an open-source software. It aims to make money from partnerships.

Meta is one of the frontrunners in the AI race and Mark Zuckerberg is one of the best CEOs in the world.

Bloomberg reviews the transition here - How AI replaced the metaverse.