Meta Platforms Inc. on Thursday, April 18, presented a new version of its Llama artificial intelligence model.
The mentioned digital product is an attempt by the specified technology giant to keep up with its main competitors in the AI industry. In this case, companies such as OpenAI and Google are primarily meant.
The new version of the technology giant’s artificial intelligence model is called Llama 3. It is worth mentioning that the first modification of the mentioned model debuted last summer.
Meta Chief Product Officer Chris Cox said Llama 2 has been downloaded 170 billion times. The second version of the artificial intelligence model has been officially billed as an open-source. At the same time, the license of this digital product provided certain restrictions. For example, companies with more than 700 million users should have requested permission to apply Llama 2.
Meta uses Llama 3 to run its own in-app virtual assistant based on artificial intelligence. The mentioned digital product is called MetaAI. It is known that a virtual assistant based on artificial intelligence will be used, including, by Facebook, WhatsApp, and Ray-Ban smart glasses.
Currently, many large companies are striving to develop AI products and services. The firms are spending billions of dollars on high-tech chips to design large language models.
Meta is already using artificial intelligence to generate content and improve the functioning of the recommendation system on virtual platforms that are part of the ownership structure of the technology giant. The company is also applying AI to increase the effectiveness of ad targeting. Another area of use of artificial intelligence by Meta is a virtual reality headset.
Chris Cox says that Llama 3 is the industry leader on several benchmarks for large language models of the corresponding category.
Investors reacted positively to the debut of the new version of Llama. Against the background of the relevant news, the share price of the technology giant in New York rose by 2.7% on Thursday. Since the beginning of the current year, the company’s securities have grown in price by 43%. This dynamic is largely due to the efforts of the technology giant in the artificial intelligence industry.
As we have reported earlier, Meta Unveils New AI Chip.
Serhii Mikhailov
Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.
