The advancements in artificial intelligence (AI) have been receiving a lot of attention from companies recently. Following the success of Open AI’s ChatGPT, several companies have started exploring the AI segment.
Recently, Mark Zuckerberg, CEO of Meta revealed that the company would work on a new AI-powered chatbot. The tech giant will dedicate resources to creating its chatbot. The CEO’s revelation comes at a time when OpenAI’s chatbot ChatGPT has taken over the world, sparking an arms race of sorts in the tech world. Notably, Microsoft has also begun integrating ChatGPT into its products, including the browser Bing.
On Monday, Zuckerberg announced the company’s initiative through a Facebook post but didn’t offer much specific information apart from the relation with AI.
He stated that the company is excited about the new initiative and will focus on making the most out of it. In his words:
We’re creating a new top-level product group at Meta focused on generative AI to turbocharge our work in this area. We have a lot of foundational work to do before getting to the futuristic experiences, but I’m excited about all the new things we’ll build along the way. We’ll focus on developing AI personas that can help people in a variety of ways.
Meta has now joined the list of companies who have joined the race of AI recently. Besides ChatGPT and Microsoft, Google has also released its bot called Bard. On Monday, Snapchat also revealed its plan for its AI chatbot which ChatGPT will power.
The craze for ChatGPT has taken over the world and has captured the attention of users as people have shown enthusiasm for the services. The application has been used by people for varied services from creating novels to solving coding issues.
This has led to many tech companies releasing their AI-powered chatbot, which could challenge Google’s supremacy on the internet for the time being. Notably, Elon Musk also announced his intentions and approached AI researchers recently to create a new research lab.
Moreover, it is worth noting that Meta has steadily shifted its focus from pure social media to the metaverse over the past 18 or so months. However, it has paid the price for this shift, with several disappointing quarterly results. Now, it appears to have turned its attention to AI and keeping revenues and results on track.
2023 is a “year of efficiency” for Meta, which some have interpreted to mean a year of layoffs. The tech industry is having a tough time at the moment, but perhaps Meta could successfully steer itself back on course.
In recent times, AI has taken over the metaverse and blockchain. Bill Gates cited AI as the most intriguing area for technical growth in an interactive session. In response to a Redditor’s query, the business tycoon responded, “AI is the big one.” The query was on what modern technology has the promise that the internet did in 2000. Although he doesn’t think Web3 is even that significant or that the metaverse alone was revolutionary, he does believe that AI is fairly revolutionary.
According to a survey by JP Morgan released in early February, 53% of the institutional investors surveyed believe that AI and machine learning will be the most influential technology in shaping the future of trading over the next three years, a significant increase from 25% the previous year. This made AI the clear winner, four times more often cited than blockchain and distributed ledger technology (DLT), which landed in third place with 12% of the vote.