Meta Eyes AI Chatbots For Boosting Business As Advertisers Look to Benefit From Enhanced Engagement Tools

Meta Platforms Inc META Chief Product Officer Chris Cox views artificial intelligence chatbots as an increasingly attractive tool for advertisers instead of just a way to lure users.

Cox cited huge business demand for better tools at the WSJ Tech Live conference in Laguna Beach, California. He claimed that one of the most profoundly impactful applications for the near term is driving the effectiveness of businesses, Bloomberg reports.

Also Read: Meta's AI Focus Steals the Show at Annual Connect Conference

Sam Altman, CEO of OpenAI, expressed the importance of abundant and inexpensive intelligence and abundant and cheap energy over the next few decades. 

OpenAI is working to make ChatGPT cheaper and faster for better accessibility, the Wall Street Journal reports.

Arm Holdings Plc  ARM CEO Rene Haas said the chip company is leveraging AI to help in some areas where they struggle to hire enough talent, like debugging and testing chips.

Weeks after releasing a handful of free AI chatbots to users on Instagram and WhatsApp, Meta is eying ways to monetize AI. 

Meta's signature move has been to launch a new feature and quickly find a way to monetize it via advertisers, as in the case of short-form videos and Stories on Instagram. 

Meta also followed that playbook when the company opened up its chat apps for commerce.

Meta launched AI features in September, including customized sticker creation, image editing, and a slew of celebrity chatbot characters that generative AI powers. The company has also rolled out AI technology for developers.

After OpenAI's ChatGPT swiftly captured the public's imagination last year, Meta CEO Mark Zuckerberg dedicated more time to talking about AI than the metaverse on earnings calls and at its annual developer conference.

Price Action: META shares traded lower by 0.52% at $322.31 premarket on the last check Wednesday.