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Meta Platforms, Inc. has unveiled a new version of its powerful Llama AI model to keep pace with similar technologies from companies like Alphabet Inc.’s Google.
Meta revealed the upgraded model Llama 3 on the 18th (local time), an improvement on the AI model launched last summer.
Meta operates its own in-app AI assistant, Meta Platforms, Inc. AI, across various products, including Facebook, WhatsApp, and Meta’s Ray-Ban smart glasses, using Llama 3. They also announced that this MetaAI assistant will be updated for users.
Many major tech companies compete to develop AI products and services, investing billions of dollars in advanced tech chips and employee resources to create products focused on large language models and other AIs.
Meta has been incorporating AI into its products for several years, but the management has publicly emphasized its benefits over the past year, focusing more on new technology.
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Meta is improving content feeds, recommendations, ad targeting, and virtual reality headsets using AI.
Cox said, “Llama 3 is leading the industry in several benchmarks for models of this scale,” and added, “We no longer need to catch up to have the best model in our class.”
He added, “The company is also working on multiple iterations of Llama 3 to be released with updates.”
Meta’s stock price rose by 2.7% to record $507.25, an increase of 43% this year.
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