Instagram's Reels AI technology increases usage
Meta's latest move of launching AI-powered Reels on Instagram has come in handy for the company. Mark Zuckerberg says people spent 24% more time on the social media platform after the new feature's launch.
Zuckerberg revealed that AI-powered Reels had increased the time spent on Instagram by 24%. Meta didn't give further details about its daily active users for Reels, but Meta CFO, Susan Li, said the firm isn't calculating "expected engagement growth" but is "pleased" with the "incremental engagement" they've observed.
Mark Zuckerberg also credited AI for a portion of the company's increased earnings, praising Meta's AI initiatives for assisting in the distribution of Reels to users. "Our investment in recommendations and ranking systems has driven a lot of the results that we're seeing today across our discovery engine, Reels, and ads," Zuckerberg said.
Back in September, The Wall Street Journal reported that the Reels feature wasn't going in the way that the company thought, citing internal files. The report stated that TikTok's market share was not being captured by the Reels rollout, so the initiation didn't go as planned. Zuckerberg said on an earnings call that Instagram Reels has increased people's time spent on the platform by 24%, mainly thanks to AI.
Meta wants to lead the AI industry
It is not a mystery that Meta's biggest target is to lead the artificial intelligence field. The company made several announcements of its plans with the metaverse and AI-powered tools in general.
In today's world, companies are trying to keep up with AI innovations. OpenAI's ChatGPT has started a new era, and Microsoft quickly jumped on the bandwagon by investing billions into the company. Zuckerberg's company doesn't want to be left alone as it initiates multiple research and projects to bring more AI tools into its social media platforms, Facebook, Instagram, and WhatsApp.
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Meta recently announced its first financial report for 2023. The company proved everyone wrong and increased its revenues by 3% compared to the same time last year. Mark Zuckerberg said that the company is willing to invest more into artificial intelligence in the future.Advertisement