Meta CEO shifted focus toward the Artificial Intelligence (AI) tech innovation race.
Meta (formerly Facebook) is the parent company behind Instagram, Facebook, & WhatsApp. In Q2 2021, Meta rebranded its name from Facebook to Meta and also announced its full focussed development on Metaverse via its Reality Labs, the company’s metaverse division which develops virtual and augmented-reality technologies.
In a recent speech, Meta CEO Mark Zuckerberg talked about the company’s Inclination toward AI tech Innovations. Zuckerberg said that the company needs to take steps forward to assure that Meta is focused on the future’s tech innovations.
Zuckerberg confirmed that now the company is focussing on AI tech as a top priority and after it there will be a Metaverse project.
Further Meta’s CEO tried to assure people that the company is focused on all of its plans parallelly. In short, Meta will focus on AI & Metaverse equally.
“Beyond AI, the other major technology wave that we’re focused on is the metaverse,” said Zuckerberg. “A narrative has developed that we were somehow moving away from focusing on the metaverse vision. I just want to say upfront that is not accurate.”
Many reports noted that if Meta will openly announce its plan to ignore the Metaverse project then surely it will result in very bad news for Meta shareholders. In 2022, Reality Labs already lost $14 billion & also the company expects that 2023 will also be the year where the company will face huge losses for the Metaverse project. Despite huge investment & loss in Meta’s Metaverse project, company is healthy enough in its other business.
Since Dec 2022, the majority of tech companies are shifting their focus toward the AI chatbot race, just after the launch of the first version of OpenAI’s chatbot ChatGPT.
Last month, Tesla CEO Elon Musk also said that he was crazy about cryptocurrencies but now he is interested in AI tech and also he established his AI tech company.
Read also: CFTC commissioner says fraud is a hallmark of Crypto