New Delhi, UPDATED: Aug 1, 2024 02:52 IST
In Short
- Meta’s Q2 earnings show a 50% share rise and 22% revenue growth.
- India is the largest market for Meta AI usage.
- Meta AI rolled out in India in June 2024 on WhatsApp, Facebook, Instagram, and Messenger.
Meta reported its second-quarter earnings on Wednesday, revealing a significant milestone: its shares have risen by nearly 50%, and revenue has increased by 22% this quarter. Central to these achievements is the Indian market. During the earnings call, Meta CFO Susan Li highlighted India as the largest market globally for Meta AI usage. “We’re seeing particularly promising signs on WhatsApp in terms of retention and engagement, which has coincided with India becoming our largest market for Meta AI usage,” said Li.
Meta AI in India
Meta’s generative AI chatbot assistant, Meta AI, was first introduced at the Meta Connect event in 2023. It began rolling out in India in June 2024 across major platforms like WhatsApp, Facebook, Instagram, and Messenger. Meta AI had been available in markets such as Australia, Canada, and New Zealand since April 2024, coinciding with its upgrade to the new Llama 3 model.
Features and Capabilities
Meta AI is designed to simplify daily tasks, functioning as a general-purpose assistant capable of managing emails, summarizing texts, and translating content. It aims to streamline tasks for users, offering real-time information powered by Google and Microsoft’s Bing. Users can interact with Meta AI to generate text and images, summarize lengthy documents, and perform various writing tasks. Meta AI is integrated into personal and group chats on WhatsApp, Instagram, and Messenger, allowing for seamless interactions and advice-seeking within these platforms.
Enhanced User Experience
In addition to basic functions, Meta AI offers advanced image generation technology, enabling users to enhance their creativity by creating animations. The AI assistant is also embedded in the search bars of Facebook, Instagram, WhatsApp, and Messenger, and can be accessed while scrolling through Facebook’s main feed.
Language Expansion and Future Plans
In July, Meta expanded its AI chatbot capabilities by adding support for seven new languages, including Hindi and Hinglish. Users can now interact with Meta AI in Hindi, French, German, Italian, Portuguese, and Spanish across WhatsApp, Instagram, Messenger, and Facebook. There are plans to include more languages in the future.
Llama 3.1 Model
Last week, Meta announced the new Llama 3.1 model, the latest version of Meta’s open-source large language model (LLM). Meta claims that Llama 3.1 has already surpassed the performance of the latest model of ChatGPT.
India’s prominence as the largest market for Meta AI underscores the country’s growing influence in the tech world. With continuous enhancements and expanded features, Meta AI is set to redefine user experience, making daily tasks more manageable and content more accessible.
Stay tuned for more updates on Meta’s innovations and their impact on global markets.