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Meta Unveils AI Assistant to Challenge Google Search and ChatGPT

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TECH BRIEF

Meta has unveiled Meta AI, a notable rival to Google Search and ChatGPT. Running on the Llama 3 Large Language Model, this free AI assistant claims better performance than GPT-3.5, offering varied functionality such as task assistance and real-time search across Facebook, Instagram, WhatsApp, and Messenger. It also enables image generation and adaptability. Meta AI is currently accessible on the meta.ai website and different Meta apps, and will be extended to Meta's smart glasses and Meta Quest.

Online publishing platform Medium has barred AI-generated content from its monetized Partner Program. The policy, taking effect from May 1, 2024, states that AI-generated stories will be delisted from paywalls, potentially resulting in the author's exclusion from the monetization scheme. The firm emphasizes its commitment to human storytelling, although it acknowledges AI's role in improving linguistic clarity or aiding non-native speakers.

Netflix impressively reported Q1 2024 revenues of $9.37 billion and new subscribers increased by 9.33 million globally, notably surpassing Wall Street's prediction of 4.8 million. This success is attributed to the company's efficient crackdown on password sharing and the introduction of a cheaper ad-supported option. Despite the successful figures, competitor Disney plans to implement tighter password-sharing restrictions by summer 2024.

Taiwan Semiconductor Manufacturing Company (TSMC) exceeded Q1 revenue and profit expectations, primarily due to robust demand for AI chips. The firm, which is planning to begin mass production of 2-nanometer chips in 2025, also boasts a remarkable net profit margin of 40%. Additionally, TSMC's Arizona subsidiary recently secured preliminary approval for up to $6.6 billion in U.S. government funding for advanced semiconductor production.

In compliance with an order from the Chinese government, Apple has removed Meta Platforms' WhatsApp and Threads from its China App Store, citing national security concerns. Remaining Meta apps like Facebook and Instagram are still available. Speculations suggest China's order could relate to the requirement for all apps to register with the government, a law in effect from April 1.

Tesla is urging shareholders to reapprove a $56 billion compensation package for CEO Elon Musk, previously nullified by a Delaware court. The auto-giant also plans to vote on moving its incorporation state from Delaware to Texas. Amidst criticism, Tesla advocated for Musk, attributing the company's significant growth to his unpaid work over the past six years.

TikTok has initiated a limited test rollout of its Instagram competitor, TikTok Notes, in Australia and Canada. The new photo-sharing app, similar in design to Instagram but with minor variations, is available to select Android and iOS users. It features unique elements such as headline options for image captions and the division of the homepage into "Follow" and " For You" sections.

Artificial Intelligence startup, Stability AI, has let go of 10% of its workforce. This turbulence comes after a $101 million funding round in 2022, misleading claims by the founder about his own background and the company, and unsuccessful efforts to raise an additional $1 billion of capital.

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