Meta is investing large amounts in the field of artificial intelligence to become a leader in this field. The company recently revealed that the cost of the artificial intelligence project significantly exceeded initial estimates. Meta initially expected the cost to be between $30 and $37 billion but had to spend an additional $5 billion, bringing the total cost to between $35 and $40 billion.
Despite the substantial investment primarily focused on artificial intelligence, Meta’s latest artificial intelligence model, Llama 3, has also inspired its CEO, Mark Zuckerberg, to become “more ambitious and optimistic about artificial intelligence,” according to indiatoday.
Zuckerberg affirmed that investing in artificial intelligence research and product development will yield significant profits for Meta in the future. It will help the company solidify its position as a key player in the artificial intelligence industry. Zuckerberg plans to increase investment in artificial intelligence in the coming years to build advanced models and provide wide-ranging artificial intelligence services.
Zuckerberg expressed optimism about the potential for artificial intelligence development during his communications with analysts. He emphasized that the company has the ability to build innovative models and become a global leader in artificial intelligence, offering numerous opportunities for growth and advancement, as reported by Business Insider.
Despite the optimism and high costs, Zuckerberg also plans to generate income through Meta’s artificial intelligence capabilities, aiming to build massive businesses in the long term. This plan includes three main strategies:
Meta plans to generate revenue through business messaging, envisioning the use of the company’s artificial intelligence tools for customer communication. Companies are expected to pay for access to AI-powered chatbots to enhance their customer interactions. Zuckerberg sees this sector as an opportunity to generate revenue over the next five years.
Meta’s business model revolves around digital advertising. The second strategy to boost revenue through artificial intelligence involves integrating ads into AI interactions. This plan includes brands paying to have their products or services displayed within AI responses. While this concept is still in its early stages for AI-powered chatbots, it aligns with Meta’s current strategy of placing targeted ads on its social media platforms and messaging apps.
The third method to generate income from artificial intelligence is by selling access to increasingly complex and advanced AI models. Currently, Meta provides free access to its large linguistic models like Llama 3 for individuals and small businesses. However, in the future, they may charge fees for accessing larger and more powerful models computationally, potentially shifting from their current open-source approach.
While all these revenue plans are long-term projections, Zuckerberg is confident that if technology and products evolve as hoped, enormous value will be unlocked for individuals and companies over time. He believes this makes sense to proceed with these plans, and they will do so.
