AI Competition: Meta

Meta has recently joined the competition of companies seeking to profit off of AI.

Meta CEO Mark Zuckerberg made it a priority to attract investors to his company because of promises of massive innovations and implementation of AI in its platforms.

Meta has used artificial intelligence for a variety of reasons, such as improving reach for advertisers, thus improving effectiveness for many companies using Meta, and making recommendations for users on both Facebook and Instagram. Generative AI has and will continue to power Meta's future endeavors, and Zuckerberg highlighted its power to investors.

This strong wave of enthusiasm for the social media company caused its share price to skyrocket by 13% this month, while distraction investors from its competitors. Meta's main rival Alphabet Inc. saw a massive loss of 9% since its earnings report, and its other rival Microsoft remained stagnant following its earnings report. Meanwhile, Meta just kept on growing.

This does not mean that Meta won the AI wars in the stock market. Combined, large companies in the market spend billions on AI, which could still rival Meta's. Meta's initiative for generative AI integration may just be the turning point in this months-long conflict.