During the first quarterly meeting of 2024, Meta CEO Mark Zuckerberg emphasized the company's focus on AI. This focus seems more relevant than Metaverse projects, even though both technologies promise to radically change how we interact with digital worlds.
In Q1 of 2024, Meta Platforms grew 27% in revenue to $36.46 billion. This result exceeded expectations thanks to strong ad fundamentals. Despite this growth, future prospects and heavy investment in AI and metaverse were points of concern for investors. However, AI initiatives gained traction with consumers and investors.
Meta's focus on AI technologies has major implications for advertisers and marketers. The increasing integration of AI into ad platforms, such as the Advantage+ product range and the Meta Lattice ad-rank system, creates new opportunities for targeted advertising and improved efficiency.
In response to the uncertain future of metaverse projects, Meta began shifting resources from Reality Labs to AI initiatives. This strategic move may prompt organizations to rethink their focus and investments. They can focus on technologies that offer greater returns in the short term.
Although Meta's metaverse initiatives are still losing money and interest, AI offers a more attractive and immediately applicable vision of the future. For companies, a strategy that focuses on AI is not only innovative but essential to remain competitive in this age of AI technologies.
Source: Meta