Meta released its A.I. chatbot in India in June. It’s the company’s largest market, with over a billion subscribers across its apps, such as Facebook, WhatsApp, Instagram, and Threads. Meta increased its revenue forecast for the third quarter to USD 38.5 – USD 41 billion.

Chief financial officer Susan Li announced that India has become the largest market in terms of Meta AI usage. The company’s net profit increased by around 73% to about USD 13.46 billion, and revenue rose 22% to USD 39.1 billion from April 2024 to June 2024. Meta’s apps are used daily by around 3.27 billion people.

Meta’s A.I. chatbot was first introduced in September 2023 as part of its focus on generative AI.A.I. It’s now available in over 20 countries and eight languages. Meta is also introducing new features in the U.S., such as Imagine Edit, which allows users to edit images created with Meta AI.

Meta’s founder, Mark Zuckerberg, mentioned that Meta AI has been used for billions of queries and is on track to be the most used A.I. assistant by the end of the year. The company is continuously improving its intelligence and features.

Zuckerberg explained that Meta aims to create a single A.I. and enable many people to develop their own A.I.s. They’ve launched A.I. Studio, which allows anyone to develop A.I., that interact across Meta’s apps.

The company is also developing A.I. social intelligence for businesses, which are currently in the alpha testing stage. Zuckerberg believes that eventually, every business will have an AI agent for customer interaction.

Meta increased its revenue forecast for the third quarter to USD 38.5 – USD 41 billion. Due to product development efforts and investments in Reality Labs, it’s also expecting ongoing operating losses in 2024.

Further, Meta plans significant capital expenditure growth in 2025 to support A.I. research and product development. The company is also monitoring the regulatory landscape, as legal and regulatory challenges could impact its business and financial results.

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