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Tag: Chris Cox

  • Mark Zuckerberg broadcasts new group at Meta running on A.I. merchandise for Instagram, WhatsApp

    Founder and CEO of US on-line social media and social networking carrier Fb Mark Zuckerberg reacts upon his arrival for a gathering with Ecu Fee vice-president in price for Values and Transparency, in Brussels, on February 17, 2020.

    Kenzo Tribouillard | AFP | Getty Photographs

    Meta will create a brand new product workforce within the corporate inquisitive about generative AI, a brand new set of system finding out tactics that let computer systems to generate textual content, draw footage, and create different media that resemble human output.

    The transfer comes as giant tech firms and well-capitalized startups alike race to tout advances in system finding out tactics and incorporate synthetic intelligence fashions into their merchandise.

    The unit will mix a number of groups throughout Meta, CEO Mark Zuckerberg stated in a Fb publish. The brand new workforce might be arranged beneath present Leader Product Officer Chris Cox.

    Zuckerberg stated that the group would construct “inventive and expressive” gear for use inside of Meta’s merchandise.

    “We are exploring studies with textual content (like chat in WhatsApp and Messenger), with pictures (like inventive Instagram filters and advert codecs), and with video and multi-modal studies,” Zuckerberg stated. “We’ve numerous foundational paintings to do earlier than attending to the in point of fact futuristic studies, however I am enthusiastic about the entire new issues we’re going to construct alongside the best way.”

    As an example, massive language fashions created through OpenAI had been built-in right into a Microsoft Bing chatbot in addition to a separate chatbot known as ChatGPT. Google could also be running on a chatbot named Bard.

    On Monday, Snap introduced that it might combine a ChatGPT bot into its Snapchat app.

    Final week, Meta introduced its personal new massive language style known as LLaMA. Meta stated on the time that its fashions are prominent as a result of they’re to be had to researchers and that they’re smaller and more economical to make use of than greater fashions.

    However the announcement was once additionally an indication that Meta, which does a vital quantity of analysis into synthetic intelligence, was once no longer going to let competition go it through within the AI race.

  • Meta seems to be to chop prices through 10% or extra over following few months, says file

    Meta Platforms CEO Mark Zuckerberg speaks at Georgetown College in Washington on Oct. 17, 2019.

    Andrew Caballero-Reynolds | AFP | Getty Pictures

    Meta is taking a look to chop prices through 10% in coming months, in keeping with a file revealed Wednesday through The Wall Side road Magazine.

    The fee cuts are prone to come with activity discounts because of interior trade division reorganizations versus extra formal layoffs. The fee slicing is predicted to begin over the following few months.

    For its second-quarter profits file in July, the Fb guardian corporate reported a 22% year-over-year build up in prices and bills totaling just about $20.4 billion. The corporate has been making an investment closely within the metaverse within the hopes that yet-to-be evolved era will result in large gross sales.

    The corporate additionally reported its first-ever income decline from a 12 months in the past, and predicted all through that profits name that its gross sales would drop once more in its 3rd quarter.

    Leader Product Officer Chris Cox up to now informed workers in a memo that the corporate is “in critical instances right here and the headwinds are fierce.” He added, “We wish to execute flawlessly in an atmosphere of slower enlargement, the place groups must now not be expecting huge influxes of recent engineers and budgets.”

    Meta is recently going through vital demanding situations in its trade because of a number of components. Apple’s main privateness replace for iOS 14 closing 12 months made it tougher for Meta to ship advertisers detailed demographic details about its customers, and advertisers are moving their spend to different platforms. Moreover, the upward push of TikTok has affected the corporate’s consumer enlargement.

    Different social media firms together with Snap, Twitter, and Pinterest space additionally going through an identical demanding situations.

    Meta stocks have been up lower than 1% in noon buying and selling to $146.33 on Wednesday. Alternatively, stocks are down greater than 56% this 12 months, some distance worse than the S&P 500, which is down lower than 20%, and the tech-heavy NASDAQ Composite, which is down about 26%.

  • Inside Fb memo warns corporate will have to be disciplined, prioritize ruthlessly

    Chris Cox, Leader Product Officer, Meta, talking the WEF in Davos, Switzerland on Might twenty fifth, 2022.

    Adam Galica | CNBC

    Fb-parent Meta has warned staff to be expecting a tricky 2nd part of the yr as the corporate continues to climate demanding situations associated with its core web advertising trade amid a weakening financial system.

    Meta leader product officer Chris Cox detailed the corporate’s monetary catch 22 situation in an interior memo that detailed key spaces the place the social media large plans to speculate, a spokesperson showed to CNBC. The memo used to be in the past reported via Reuters.

    Cox reiterated statements made via Meta CEO and co-founder Mark Zuckerberg all through a choice with analysts as a part of the corporate’s first quarter income record, which detailed the adverse have an effect on to the corporate’s trade brought about via a privateness replace Apple made to the iPhone closing yr.

    The Meta govt added that the corporate is in “critical instances right here and the headwinds are fierce,” underscoring that its demanding situations don’t seem to be prone to vanish anytime quickly.

    “We want to execute flawlessly in an atmosphere of slower expansion, the place groups will have to now not be expecting huge influxes of recent engineers and budgets,” Cox wrote. “We will have to prioritize extra ruthlessly, be considerate about measuring and working out what drives have an effect on, put money into developer potency and speed within the corporate, and function leaner, meaner, higher thrilling groups.”

    To offset the have an effect on of Apple’s replace, which restricted Fb’s skill to focus on advertisements to express audiences, Cox mentioned the corporate is pushing arduous to become profitable from Instagram Reels, its TikTok competitor, and likewise making an investment in AI to power content material suggestions like TikTok does, as the corporate has in the past mentioned.

    Meta additionally plans to put money into options that will make it more uncomplicated for outlets to turn advertisements to shoppers on its circle of relatives of apps, and for workers keep in touch with companies via messaging.

    A Meta spokesperson downplayed the importance of the interior memo to CNBC, noting, “This used to be merely an interior technique memo meant to construct on what we have already mentioned publicly in income in regards to the demanding situations we are facing and the alternatives we now have, the place we are placing extra of our power towards addressing.”

    Meta stocks had been moderately flat in after-hours buying and selling on Thursday at $161.10.