Meta Platforms (META) – Meta AI Release & WhatsApp – April 20, 2024

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Meta Platforms (META) – Meta AI Release & WhatsApp – April 20, 2024

Meta debuted its latest version of Meta AI. This is its conversational GenAI assistant now built on Meta’s latest and greatest Llama 3 open-sourced foundational model. The assistant is infused directly into the search bar of Meta’s apps to give users more intuitive and powerful search and discovery tools. Queries are also sharpened by data sharing from both Google and Bing. Considering this could feasibly be used for commerce discovery and other traditional search use cases, that note was a bit surprising to me in a good way. The Meta AI assistant can now perform real-time content animation and image creation as well.

Meta AI is the “most intelligent free AI assistant” per Zuckerberg. It runs on Llama 3’s 8 billion and 70 billion parameter models, with the 70 billion parameter version already best in class in reasoning and math. Meta will continue to rapidly introduce new models and constantly improve its work here. For example, the 8 billion parameter Llama 3 model is already more powerful than the most dense Llama 2 model.

Meta is giving away Meta AI for free, so why is this relevant to its financial results? Better search means better content matching. Better content matching means more time spent on its apps. And? That means more advertising revenue. That doesn’t even consider the fact that this work will be a valuable piece of its chatbot customer service tools for paid business accounts within ecosystems like WhatsApp.

In other news, Apple removed WhatsApp from the Chinese app store. With Meta largely banned in that market, it is not material to its financial success.

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