Meta believes AI chatbots can revolutionize advertising
Meta is turning its attention to AI chatbots as a way to draw in advertisers, according to Chief Product Officer Chris Cox. At the WSJ Tech Live conference held in California, Cox discussed the increasing demand from businesses for better tools. "One of the most profoundly impactful applications for the near term for AI is helping businesses be more effective," he said.
Meta's signature monetization strategy
Meta usually has a strategy for monetizing new features, which involves rolling them out to users first and then quickly finding ways to generate revenue through advertisers. This approach has been used with short-form videos and Stories on Instagram, as well as opening up chat apps for selling and purchasing. By shifting AI chatbots toward business clients, Meta hopes to tap into the growing demand for advanced advertising tools.
Recent AI features released on Instagram and WhatsApp
To cash in on artificial intelligence, Meta recently launched a variety of free AI features for Instagram and WhatsApp users. These features include personalized sticker creation, image editing, and celebrity chatbot characters driven by generative AI. This represents the company's most extensive release of consumer-facing AI features to date, along with rolling out the AI technology for developers. Meta's sticker-making tool, however, landed in controversy recently for generating inappropriate content.
The company's evolution and focus on AI
Formerly known as Facebook, Meta changed its name in October 2021 to underscore its dedication to the metaverse, a virtual reality platform that CEO Mark Zuckerberg believes is the next generation of the internet. However, following the success of OpenAI's ChatGPT last year, Zuckerberg and other top executives have refocused on artificial intelligence. This shift underscores Meta's ongoing efforts to establish itself as a frontrunner in the fast-paced AI arena.
