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April 18,2023. Meta is reportedly moving away from Metaverse and is now pitching for Reels and AI to advertisers. While addressing the most recent layoffs, Zuckerberg mentioned Metaverse only twice but described AI development as Meta's "single largest investment." Also, in an effort to lure advertisers, Meta is now contented with advertisers spending the same level as last year instead of requiring them to spend 20% more like in the past. Meta is also offering up to 25% discount to advertisers willing to spend a certain amount testing its ad features in Reels, according to an ad client that spends more than $200 million annually on Meta<ref>https://africa.businessinsider.com/news/meta-has-reportedly-stopped-pitching-advertisers-on-the-metaverse/zd5y49y | |||
https://www.theinformation.com/articles/meta-tries-to-lure-advertisers-with-reels-discounts-ai-tools</ref>. | |||
April 5, 2023. Meta executive said that the company will commercialize its Proprietary AI by the end of this year.Andrew Bosworth, Meta's chief technology officer said its AI can improve an ad's effectiveness by availing tools to make it.He said Mark Zuckerberg and Chief Product Officer Chris Cox, are spending most of time on it<ref>https://asia.nikkei.com/Business/Technology/Meta-to-debut-ad-creating-generative-AI-this-year-CTO-says</ref>. | April 5, 2023. Meta executive said that the company will commercialize its Proprietary AI by the end of this year.Andrew Bosworth, Meta's chief technology officer said its AI can improve an ad's effectiveness by availing tools to make it.He said Mark Zuckerberg and Chief Product Officer Chris Cox, are spending most of time on it<ref>https://asia.nikkei.com/Business/Technology/Meta-to-debut-ad-creating-generative-AI-this-year-CTO-says</ref>. | ||