The article discusses Meta’s (formerly Facebook) recent earnings report and the impact of artificial intelligence (AI) on the company’s future costs. According to the report, Meta expects its costs to increase significantly by 2024 due to investments in AI and machine learning technologies. The company plans to allocate substantial resources towards developing advanced AI systems to improve its products and services, such as content moderation, personalized recommendations, and targeted advertising. Meta’s CEO, Mark Zuckerberg, emphasized the importance of AI in driving the company’s long-term growth and competitiveness. However, the investments in AI will likely put pressure on Meta’s profit margins in the short term. The article also highlights the broader trend of tech giants like Google, Amazon, and Microsoft pouring billions into AI research and development, signaling the strategic importance of this technology for the future of the industry.
Source: https://www.businessinsider.com/meta-earnings-report-ai-increasing-cost-2024-4