Facebook parent company Meta Platforms on Thursday launched what Chief Executive Mark Zuckerberg called "the most intelligent AI assistant that you can freely use." Meta stock gained in Thursday trading.
The trillion-dollar tech giant announced the latest version of its Meta AI assistant, with plans to feature the chatbot more prominently across Instagram, Messenger, WhatsApp and Reels. The company also launched a stand-alone website for the bot at Meta.ai. The product is powered by the latest version of its large language model Llama 3.
"Thanks to our latest advances with Meta Llama 3, Meta AI is smarter, faster and more fun than ever before," the company said in a blog post.
On the stock market today, Meta stock added 1.5% to close at 501.80.
Meta Stock: Targeting AI Leadership
Meta has invested significant resources into launching AI tools in recent years. It is looking to compete with AI models such as OpenAI's ChatGPT, the chatbot that sparked the generative AI craze after it launched in November 2022. Meta released the first version its AI chatbot last September.
Zuckerberg wrote on Threads Thursday that the company's goal is to "build the world's leading AI."
Meta AI's new website features a bar to type in prompts, similar to ChatGPT. It includes the ability to search the web for real-time information. The company's blog post offered a list of suggested uses for the chatbot.
"Planning a night out with friends? Ask Meta AI to recommend a restaurant with sunset views and vegan options," the blog post said. "Organizing a weekend getaway? Ask Meta AI to find concerts for Saturday night."
Meta also released two open-source Llama 3 models for outside developers to freely use. Each will be available across cloud platforms from Amazon, Microsoft, Alphabet, Snowflake, IBM and others, Meta's blog post said.
Earnings Report Ahead For Meta
While Meta is not charging for the use of its models, it certainly expects big returns on its AI investments. Zuckerberg has previously told analysts that the company views AI tools as a way to increase engagement on its apps, helping to sell more advertising. It could also unlock forms of advertising, such as Click-to-Message ads that launch chat prompts between businesses and users of Meta's apps.
Meta will report first quarter earnings on Wednesday, April 24. Meta stock has gained 46% so far this year and 131% over the past 12 months.
