Meta Platforms
META
recently announced that its AI researchers have created a new AI model called No Language Left Behind (NLLB 200), which can translate 200 different languages and improves the quality of translations across its various technologies.
Language barrier still exists in this world due to the lack of high-quality translation tools. Due to this, billions of people cannot access digital content or participate fully in conversations online.
Meta is looking to solve this issue with its latest AI model, which according to the company, improves translation quality by 44% more than any previous translation models. For certain African and Indian languages, NLB 200’s translations are more than 70% accurate.
In order to improve NLLB 200, Meta has also built Flores-200 — a data set that enables AI researchers to assess the translation AI model’s performance in 40,000 different language directions.
Meta is introducing the new AI model and Flores-200 data set to developers to help in properly translating content. The new AI model will serve more 25 billion translations everyday in FEED on Facebook, Instagram reels and other features that have emerged as new trends on social networking websites.
Meta’s recent investment in its new AI model will help in building the metaverse, which can be a multilingual AR space to help include people who speak different languages without creating a centralized language base.
Meta Platforms, Inc. Price and Consensus
Meta Platforms, Inc. price-consensus-chart
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Meta Platforms, Inc. Quote
Meta Investing in AI to Drive Long-Term Growth
Meta Platforms is currently facing the worst downturn in the company’s history due to the global macro-economic situation, geopolitical tensions, rising inflation and interest rate hike by the Federal Reserve Bank. This has hurt Meta’s share price negatively.
Shares of Meta Platforms, which currently has a Zacks Rank #4 (Sell), have tumbled 50% in the year-to-date period compared with the Zacks
Internet – Software
industry decline of 49.6%.
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the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here
.
Meta’s financial plans to generate sufficient operating income from its Family of Apps business segment to fund the growth of its Reality Labs have taken a major hit, and the company has been recently closing various long-term projects, which is burning a lot of cash for the company.
One of the most recent setbacks has been the discontinuation of its cryptocurrency wallet pilot project — Novi. This is a major setback for Meta Platforms in its efforts to develop metaverse as an independent commercial platform as both the crypto and NFT markets came crashing down.
The situation is not expected to get better in the near term as negative sentiments are hurting Meta’s tech peers, who are looking to venture into the AR space, including
Twitter
TWTR
,
Microsoft
MSFT
and
Apple
AAPL
.
Meta has been beaten by Twitter as the first social media giant to enter the NFT marketplace by launching a tool to showcase and sell NFTs on its platform. Microsoft’s M12 venture fund recently invested in NFT startup, Palm NFT Studio, to develop projects on the Palm Protocol, an energy-efficient Ethereum sidechain. Apple has one of the largest AR platforms in the world to help creators build AR experiences with frameworks like ARKit, RealityKit and Reality Composer. Apple’s mixed-reality headset is its most anticipated product that is expected to help the company diversify its sources of revenues.
Twitter shares have fallen 10.5% compared with the Zacks
Internet Software
industry’s decline of 49.6%.
Microsoft shares have lost 20.1% in the year-to-date period compared with the Zacks
Computer-Software
industry’s decline of 24.1%.
Apple’s shares have fallen 18% in the year-to-date period compared with the Zacks
Computer – Mini computers
industry’s decline of 19.2%.
Although Meta’s short-term revenue growth looks bleak, the company is confident about its long-term growth. Meta is investing heavily in developing AI, which will drive revenue growth in its ad business.
Reels are the newest trend right now, and the feeds are increasingly being recommended by AI. This will enable Meta to evolve its ad systems to help creators earn through Facebook and Instagram, and create new ad revenues for the company.
This will help provide funds for building the metaverse and aid the company to generate positive returns from its investments in AI.
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