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Meta Bets Big on Meta AI

Meta has turbocharged its role in the generative AI sector by introducing its new AI assistant, Meta AI, which is now integrated into its popular apps, including Facebook, Instagram, WhatsApp, and Messenger.

Meta AI Paves Way For New Search Play

Utilising the sophisticated Llama 3 model, this integration enables real-time interactive capabilities directly via the app’s search bars, aiming to significantly enhance the way users retrieve information and interact with content. This could lead to instant responses to user queries and allow for dynamic creative content generation directly within the app interface.

The incorporation of Meta AI into Meta’s suite of apps offers not just a revisit to its earlier AI efforts but a substantial upgrade in technology. The Llama 3 model, enhances both conversational and creative functionalities, such as generating high-quality visuals in real-time. These capabilities set Meta AI apart, enabling it to provide more dynamic and responsive interactions, potentially outperforming competitors like OpenAI’s ChatGPT and Google’s Gemini.

Meta’s strategic move to embed AI deeply into its platforms provides the company with a notable advantage given its large, existing user base and the seamless integration of AI features within these platforms.

ChatGPT Is In Meta’s Crosshairs

eMarketer highlights that fewer than half (43%) of US Facebook users would need to use Meta AI at least once per month for it to rival the market leader, ChatGPT. This target is plausible, especially considering the prominent placement of Meta AI within Meta’s apps.

Additionally, Meta’s strong presence in product searches—21% of US consumers began their online product searches on Facebook in Q3 2023—underscores its potential to engage further through AI-driven searches.

Moreover, Meta AI is available for free even as a standalone tool on the meta.ai website, enhancing its accessibility compared to paid services like ChatGPT Plus. This could foster higher adoption rates among users who are cost-sensitive or prefer not to commit to a monthly subscription. The open-source nature of Llama 3 allows broad access and innovation, encouraging ongoing enhancements based on community feedback, which could swiftly improve AI functionalities and address existing limitations.

Despite these strengths, the success of Meta AI largely depends on the capabilities of the underlying Llama 3 model. Meta is actively developing a new version of the model, which is expected to be six times as powerful as the largest current Llama 3 model and aims for multilingual and multimodal functionalities. This development might resolve current limitations, such as the language support, since Meta AI is currently only available in English, while competitors like ChatGPT support multiple languages.

AI Monetisation With Ads Will Follow

In addition to enhancing user engagement, Meta’s deep integration of AI across its platforms, combined with its strong position in digital advertising, presents unique monetisation opportunities as generative AI search advertising evolves.

Already a major player in digital ad spending, expected to account for 23% of worldwide spending in 2024, Meta could leverage AI-driven ads and business features in Meta AI as it scales.

Ultimately, Meta’s strategic deployment of its AI assistant across its extensive platform ecosystem not only aims to redefine user interactions within social media but also positions it as a formidable contender in the competitive generative AI market, enhancing practical utility and opening new avenues for creative expression and monetisation.

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