Mark Zuckerberg said on Wednesday that strength in Meta’s core advertising business will allow the company to continue spending heavily on artificial intelligence next year and beyond, reassuring Wall Street as shares rose as much as 8 per cent.
Zuckerberg, Meta’s chief executive and founder, was eager to show that investments in AI were bearing fruit during an earnings call with analysts on Wednesday, pointing to examples such as improvements to its recommendations engine. The company’s Meta AI chatbot was also on track to become the most-used AI assistant in the world by the end of the year, he said.
However, he acknowledged that while products such as the chatbots would increase engagement with its platform, it would take “years” for the “monetisation of any of those things by themselves”.