Meta has officially launched its AI chatbot, Meta AI, across its major platforms including Facebook, WhatsApp, Instagram, Messenger, and a dedicated web app.

Since its launch in September 2023, Meta AI has rapidly gained traction, boasting over 500 million monthly active users as of late October 2024.

According to CFO Susan Li, India has emerged as the largest market for Meta AI, reflecting the platform's global reach.

Initially rolled out in over a dozen countries, Meta AI expanded its availability to approximately 43 countries, including a significant launch in India in June 2024.

Recent updates to Meta AI have introduced voice capabilities and enhanced image generation features, leveraging the Llama 3.2 multi-modal foundation model.

The chatbot supports multiple languages, including Hindi and Hinglish, and is continuously being improved to enhance user engagement.

In the past month, over one million advertisers have utilized Meta's generative AI tools, resulting in the creation of more than 15 million ads and a reported 7% increase in conversion rates for businesses using image generation.

Zuckerberg noted an 8% increase in time spent on Facebook and a 6% increase on Instagram, attributing these gains to AI-driven improvements in content recommendations.

In its Q3 2024 earnings report, Meta revealed a revenue of $40.6 billion, marking a 19% year-on-year increase, alongside a net income of $15.7 billion, which is up 35% year-on-year.

Meta has adjusted its annual spending forecast to between $38-40 billion, anticipating significant investments in infrastructure, including servers and data centers.

During the earnings call, Zuckerberg also unveiled prototypes for augmented reality glasses, Orion, and an entry-level mixed-reality headset, Quest 3S.

Despite the advancements, Reality Labs, Meta's VR and AR division, reported an operating loss of $4.4 billion, although it generated $270 million in revenue from hardware sales.