The shift towards AI has proven beneficial for Meta, which has emerged as a leading player in the AI race. The company has advocated for an open-source approach to AI development and released Llama 2, a mostly open-source AI model, in July. Despite setbacks in other areas, such as a $4 billion loss in the first quarter of 2023 from virtual and augmented reality projects, the increased focus on AI seems to be paying off.
Key takeaways:
- Mark Zuckerberg's interest in AI was sparked after a conversation with Google CEO Sundar Pichai in 2021, where Pichai praised a Facebook AI breakthrough that Zuckerberg was unaware of.
- Zuckerberg has since educated himself on the subject and has made AI a key priority for Meta, stating that it will be the company's biggest investment area in 2024.
- Meta, formerly Facebook, has become one of the leading players in the AI race and is advocating for an open-source approach to AI development.
- Zuckerberg's previous ventures into cryptocurrencies and the metaverse have not been as successful, with the company's virtual and augmented reality projects losing $4 billion in the first quarter of 2023.