Meta, the parent company of Facebook and Instagram, discussed its use of artificial intelligence (AI) during its Q1 2023 earnings call on April 26.
AI fuels content discovery
Meta CEO Mark Zuckerberg called AI one of two “major technology waves” alongside the metaverse, a priority on the company’s roadmap.
Zuckerberg says AI is already driving content discovery. He noted that on Facebook and Instagram, his 20% of user feed content is suggested by AI and comes from accounts that users don’t follow. He said it accounts for 40% of the content seen on Instagram.
The CEO also said AI is being used to direct users to Instagram after the launch of Reels, Facebook’s video platform.
Zuckerberg said Meta’s AI efforts have also improved monetization, with Reels’ monetization efficiency increasing by 30% on Instagram and 40% on Facebook each quarter.
Zuckerberg proposed that generative AI (that is, AI that can create media and content) could be used to create more engaging advertising experiences or create ads on behalf of clients.
He also suggested that businesses, especially small businesses, could use AI to create agents that can handle more customer interactions.
We see an opportunity to introduce AI agents to billions of people in useful and meaningful ways. We’re also looking at chat experiences in WhatsApp and Messenger, posts, visual creation tools for Facebook and Instagram and ads, overtime videos, and multimodal experiences. We expect these tools to be of value to everyone, from ordinary people to creators to businesses.
CFO Susan J. Li said the company will resume hiring once layoffs are completed in April and May, and said generative AI is one of the biggest areas the company is adding headcount to.
Responding to a question about the company’s internal use of AI and how it will affect long-term employment, Li said, “We still don’t know how AI will improve employee productivity. We don’t have enough visibility, but that’s what we’re excited about.”
“I think it will become clearer as the industry as a whole starts developing tools to improve employee productivity,” added Li.
Metaverse still a priority
Zuckerberg further suggested that his company remains focused on the “metaverse,” despite suggestions that it has moved away from some of its missions.
So it’s not accurate. We’ve been focused on both AI and the metaverse for years and will continue to focus on both.
He said the two areas work together, and that mixed reality involves using AI technology to combine the physical world with digital objects.
Zuckerberg also said Meta intends to create an “AI-centric operating system” for its AR headsets, which he believes will “be the foundation of the next generation of computing.”
The CEO did not specifically mention blockchain-based NFTs, which are often considered part of the more general “metaverse.” The company announced in March that it would be phasing out NFT functionality. Did.