Meta's new AI-focused app

TheStreet’s Conway Gittens brings you the biggest news of the day, including how Meta is making itself heard in the AI race.

Transcript

00:00Get ready for a new app from Mark Zuckerberg and Meta in an attempt to capitalize on what he hopes will be growing interest in

00:07artificial intelligence by everyday people

00:09Zuckerberg is planning to launch a separate AI app to go along with Facebook Instagram and WhatsApp

00:16According to CNBC the launch is being targeted for some time within the April to June period

00:21The company is hoping to steal thunder from open AI

00:25Which has the wind at its back with the advantage of being the first to become a household name

00:30Thanks to chat GPT

00:32Meta is going to be in a crowded field of competitors trying to grab attention and eyeballs and it's not yet clear if there

00:39Will be enough of those to go around of course

00:42There's open AI add to that offerings from Microsoft Elon Musk's X AI

00:48Anthropic and alphabet the parent of the ubiquitous search app Google

00:53Sources familiar with the confidential project told CNBC

00:56There's likely to be a paid version where users get charged a monthly fee to get access to a more powerful AI

01:03functionality open AI is chat GPT and Microsoft's co-pilot already have paid upgrades

01:10Zuckerberg has lofty ambitions as he predicts the market for personalized AI

01:15Assistance will top 1 billion people this year

01:18And he said quote I expect meta AI to be the leading AI assistant

01:24while people can already use meta AI on a website or through metas popular apps like Facebook and WhatsApp a

01:31Standalone app would give Zuckerberg even greater reach

01:35That'll do it for your daily briefing from the New York Stock Exchange. I'm Conway Gittens with the street