![]() Is META Stock a Buy, According to Analysts? Thus, a successful AI development thrust could significantly enhance the appeal of the advertising space giant’s platforms to its intended advertiser market. ![]() Most noteworthy, during the last quarter, the company’s AI efforts saw advertisers realize 20% more conversions than they did in the prior year, reduce cost per customer acquisition, and report higher returns on advertising expenditure. ![]() The company could also create new, hot generative AI products that may boost its advertising platforms’ attractiveness, functionality, and user engagement. Firstly, generative AI could improve internal productivity and cost efficiency as engineers “delegate” some tasks to the new technology. In an earnings conference callin February, Mark Zuckerberg dubbed 2023 “the year of efficiency.” Following a massive staff lay-off in December 2022, Meta is streamlining its organizational structure, and the latest announcement fits nicely into the company’s evolving expense-management strategy.Ī focused approach to developing generative AI products and tools could achieve two objectives at Meta. Generative AI Could Boost Meta's Stock PriceĪ successful design of generative AI products that enhance consumer engagement for Meta’s apps may increase advertising effectiveness and boost revenues and earnings growth for the business once again, which could boost Meta's stock price. Generative AI is an offshoot of machine learning products popularized by OpenAI’s ChatGPT platform, taking the internet world by storm. The company will assemble an AI development team from across its subsidiaries into one group to focus on building “creative and expressive tools” and later on develop AI “personas” that should be helpful to its social media platforms' users with image, video, and multimodal experiences. Meta Platforms’ CEO Mark Zuckerberg announced on Monday, February 27, 2023, that the company will create a new "top-level product group…focused on generative AI" to "turbocharge" the tech giant’s work in the emerging AI area. ![]() Meta Platforms to Focus on ChatGPT-Type AI Still, generative AI has created a buzz in the capital markets, and valuation multiples on successful generative AI stocks could expand as the revolutionary technology changes the modern-day workplace and renders some age-old professions at risk of abrupt extinction. ![]()
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