Meta Platforms Inc. META has appointed Clara Shih, former Salesforce Inc CRM artificial intelligence chief, to head its newly formed Business AI division, marking a significant expansion of the social media giant’s AI strategy for enterprise customers.
What Happened: Shih, who announced her move via LinkedIn on Tuesday, will spearhead Meta’s efforts to develop AI tools for businesses using Meta’s social platforms. “Our vision is to make cutting-edge AI accessible to every business, empowering all to find success and own their future in the AI era,” Shih stated.
The appointment comes as Meta accelerates its unique open-source AI approach, differentiating itself from competitors like Microsoft Corp. MSFT-backed OpenAI and Alphabet Inc.’s GOOG GOOGL Google.
Rather than monetizing AI through direct subscriptions, Meta aims to enhance its existing advertising and social media platforms using its Llama language models.
See Also: Dan Ives Expects ‘Drop The Mic Performance’ Tomorrow From Nvidia: Here’s Why
Why It Matters: Meta’s AI push has gained momentum under CEO Mark Zuckerberg‘s leadership. During the company’s third-quarter earnings call, Zuckerberg revealed plans for Llama 4, announcing an unprecedented computing infrastructure utilizing over 100,000 Nvidia Corp. NVDA H100 GPUs. The next-generation model is scheduled for release in early 2025.
The company has already begun integrating AI-generated content into its platforms, including AI-created photo carousels on Facebook and AI chatbots on Instagram.
Bank of America Securities recently labeled Meta an “AI Story,” citing the growing adoption of Llama and Meta AI. The firm projects AI-driven advertising improvements to materialize by 2025.
The move follows Meta’s strong third-quarter performance, where the company exceeded analyst expectations while signaling increased capital investment in AI infrastructure. Zuckerberg has touted the company’s $405 billion Llama 3.1 model as having superior cost performance compared to competing closed models.
Read Next:
Image via Pixabay
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
