Facebook’s parent company Meta has shown a strong interest in artificial intelligence and has been investing heavily in AI research and development. They use AI for various tasks such as computer vision, natural language processing, recommendation systems, and more.
The company has also open-sourced numerous AI tools and libraries, such as PyTorch and Detectron2, to support the wider AI community. Facebook’s AI initiatives aim to improve user experience and help the company stay at the forefront of technological advancements in the field.
Bloomberg reports that in a call with investors on Wednesday, CEO Mark Zuckerberg promised, like pretty much everyone else in Silicon Valley, to make Meta’s AI development a priority.
This is probably a sound goal to pursue, considering that Meta spent 2022 burying $14 billion in digital landscape that is the metaverse, meanwhile laying off entire towns’ worth of workers.
“We’re working on flattening our org structure and removing some layers of middle management to make decisions faster,” Zuckerberg said on the call, according to Bloomberg, “as well as deploying AI tools to help our engineers be more productive.”
“There’s going to be some more that we can do,” he added, “to improve our productivity, speed, and cost structure.”
And with this Mark Zuckerberg’s fortune jumped by $12.5 billion on Thursday, the largest one-day increase in his wealth, after he vowed 2023 will be the “year of efficiency” for his social-media giant, Meta Platforms Inc.
The CEO rebounded from his worst year on record, with his wealth tumbling from a peak of $142 billion in September 2021. He had a number of daily ups and downs in 2022: he lost as much as $31 billion in a day last February, then gained $11 billion in April, only to lose $11 billion in October after another disappointing earnings report.
Zuckerberg told investors that, outside of that note about integrating helpful “AI tools” into engineering work, Facebook will be focusing on using AI to improve its content-recommendation algorithms.
In the near future, many platforms will have to modify their algorithms in anticipation of a surge in AI-generated content. It is fortunate that Zuckerberg is taking proactive steps, as this will help ensure that content-filtering algorithms are functioning optimally. With the increasing creation of content by AI, it is crucial to keep the algorithms updated.