Meta CTO Reveals Plans of Generating Revenue From AI-based Ads

• This is the first time the business has publicly discussed its strategy for commercializing AI.
• Meta aims to release AI-based apps by the end of the year 2023.

In an effort to compete with OpenAI and Google’s offerings, tech giant Meta has announced ambitions to begin generating income from its unique generative artificial intelligence firm by the end of 2023. While Meta has been active in the AI sector since at least 2013, this is the first time the business has publicly discussed its strategy for commercializing AI.

Meta’s CTO, Andrew Bosworth, said on Wednesday the firm aims to release AI-based apps by the end of the year 2023. Meta has already declared its intention to launch a new AI research and development firm.

New Generative AI Team

Late in 2022, OpenAI’s ChatGPT caused a major stir in the field of artificial intelligence chatbots, amplifying the excitement around generative AI at the time. In the same area of generative AI, Google has unveiled its own chatbot, Google Bard.

Bosworth further stated:

“We feel very confident that we are at the very forefront. I expect we will start seeing some of them commercialization of the tech this year. We just created a new team, the generative AI team, a couple of months ago; they are very busy.”

In addition to the much-discussed Metaverse, the CTO has said that attempts are underway to use AI techniques in advertising campaigns. 

Reality Labs, the Meta division responsible for making the metaverse a reality, is shaping out to be an even greater financial black hole. In February, Reality Labs reported its fourth-quarter financial results, revealing an operating loss of $4.28 billion, an increase from the $3.3 billion loss reported in the previous quarter.

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