Meta’s executive head of Global Business, Nicola Mendelsohn, revealed that the company harbours plans for the metaverse. The executive’s admission comes after Meta portrays signs of shifting focus towards artificial intelligence (AI).
Meta Rules Out Speculations of Ditching Metaverse Vision
Mendelsohn indicates that integrating AI tools within Meta’s ecosystem will facilitate accomplishing the Metaverse vision. The executive dismissed reports of Meta’s plans for metaverse suffering demise. He considers such reports overly exaggerated, particularly considering that the Facebook-owning social media entity rebranded in 2021 to Meta, thus igniting the buzzword.
In his speech during the May 11 press event, Mendelsohn informed the attendees that Meta is set to roll out AI Sandbox generative targeting advertisers. The executive utilized the New York City event to reveal that Meta currently deploys a dual strategy on metaverse and AI.
Mendelsohn echoes past pronouncements by Meta chief executive Mark Zuckerberg in the pursuit of AI and the metaverse. He rubbished claims that Meta terminated interest in the metaverse. Instead, he informed the attendees that metaverse is a long strategy that would take five to ten years for nonparticipants to understand the vision.
Mendelsohn’s declarations are a rebuttal to increased speculation that Meta Platform is portraying affiliations to artificial intelligence. The focus on AI is bound to witness speculations that the Zuckerberg-led company abandoned the metaverse despite its celebrated rebranding from Facebook Inc.
Metaverse Hype Fades as Meta’s Reality Labs Incurs Billions of Losses
The 2021 rebranding triggered a series of endless debates on Meta’s plans to actualize the Metaverse vision. The broader hype praised the metaverse as delivering an immersive yet interactive and futuristic internet. Nonetheless, the hype would quickly fade.
The rapid popularity and usage of generative AI tools are prompting speculative suggestions that Meta is distancing itself from the metaverse projects. Instead, they consider Meta as joining the AI wagon termed as the recent buzzy tech trend.
Mendelsohn’s statement coincides with when Meta admitted that the metaverse-oriented Reality Labs incurred a $3.9 billion loss in the first quarter. The loss increased by $1 billion from the loss reported in 2022’s first quarter.
Mendelsohn reveals that Meta considers generative AI useful in facilitating creators and established brands to deliver the metaverse. Meta illustrated that metaverse is integrated within its Quest headsets utilizing virtual reality.
Meta Launching AI Sandbox
In a March presser, Meta chief tech executive Andrew Bosworth previewed the AI Sandbox being an ad software suite. The new tool is set to leverage the potential of generative AI in creating text. The text would become the input for ad copy that Meta targets to reach various demographics.
Bosworth revealed that AI Sandbox would facilitate automatically cropping videos and tests. Also, it targets converting text prompts into verifiable background images for Instagram and Facebook.
Mendelsohn revealed deliberation to leverage Meta’s generative AI in building 3D spaces. He acknowledged the difficulty companies are battling for them to satisfy their desire to build their systems within the metaverse.
The Global Business unit head is optimistic that companies will, in the future, tap into generative AI and machine learning to optimize the metaverse. As such, Mendelsohn believes that individuals will have reinforced capability by using the tools.
Opportunities for AI to Create Immense Value Using Metaverse
The vice president of Meta’s Monetization, John Hegeman, echoes Mendelsohn’s pronouncement that AI will enable them to develop a metaverse more effectively. He considers that the metaverse will offer secondary opportunities for parties utilizing AI to create immense value.
Recently Oncyber revealed in March to offer an AI-powered Magic Composer. The 3D world-building provider seeks to empower its users in customizing digital environments using test commands supported by OpenAI’s ChatGPT.
Mendelsohn is confident that Meta’s full vision for the metaverse is years away from its realization. Nonetheless, fulfilling the plans could suffer a severe test given the anticipated entry of Apple into the metaverse hardware. Apple is set to introduce a mixed-reality headset thought to become a game changer.
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