The tech giant now says that advancing artificial intelligence will be its top investment priority, roughly a year and a half after it changed its name to “Meta” and said It would commit to building the “metaverse,” a future internet version.
CEO Mark Zuckerberg reiterated his new focus on the company’s “efficiency” in a letter to employees on Tuesday. In the letter, he also announced plans to lay off another 10,000 employees in the coming months. After years of heavily investing in growth, including in areas with unproven potential like virtual reality, Meta’s shift toward efficiency was first made public last month during its quarterly earnings call.
Zuckerberg claims that the company will now concentrate primarily on streamlining projects and reducing expenses. Zuckerberg wrote that building the metaverse “remains central to defining the future of social connection,” but Meta will not spend most of its money there. Meta’s goal is to improve AI.
Zuckerberg stated on Tuesday that “our single largest investment is in advancing AI and building it into every one of our products.” He gestured to how simulated intelligence devices can help clients of its applications communicate their thoughts and “find new happy,” yet, in addition, said that new man-made intelligence apparatuses can be utilized to increment efficiencies inside by making a difference “engineers compose better code quicker.”
The CEO said that the “world economy changed, competitive pressures grew, and our growth slowed considerably” last year, which he called a “humbling wake-up call.”