July 19, 2024

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1 Stock to Buy With Ambitions of Becoming the Leading Artificial Intelligence (AI) Company in the World

2 min read

Artificial intelligence (AI) has permeated nearly every industry over the last 18 months since the launch of OpenAI’s ChatGPT.

There have been several big winners amid the AI arms race. Nvidia is selling its powerful graphics processing units (GPUs) faster than it can make them, leading to massive profits for the chipmaker. Microsoft, an investor in OpenAI, has seen its cloud platform revenue surge amid demand for compute power and access to AI models.

But one company has been working on advanced AI algorithms for over 15 years and publishing research in the field for the last 10 years. It’s made several major advancements in generative AI and large language models, and its CEO believes it can become “the leading AI company in the world.”

This isn’t some obscure tech company. You likely use one of its products every day, along with over 3 billion other people. I’m talking about Meta Platforms (NASDAQ: META), the company behind Facebook, Instagram, WhatsApp, Messenger, and the Llama 3 large language model.

A graphic of a circuit board depicting the outline of a brain with the letters AI printed on it.

Image source: Getty Images.

Meta’s putting its AI to use across all of its products

Meta has been working on AI algorithms for over a decade and a half. It developed a new machine-learning algorithm in the early 2010s to recommend content in users’ feeds. AI then powered its advertising business, ensuring the right users saw the right ad at the right time.

Meta developed AI that can understand the things people type on Facebook or Instagram (natural language processing) and the photos users post (computer vision). That helps it understand the content it’s showing other users and makes it easier to block hate speech and other violence on its platforms.

Meta’s also working on generative AI. Its large language model, Llama, is now on its third version, which is open source. Llama 3 has proven more cost-effective for developers to use than OpenAI’s models, but it often falls short of the capabilities of OpenAI’s newest GPT-4o model.

Meta integrated its generative AI…

2024-06-20 09:05:00

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