Analyst reboots Facebook parent stock price target on AI investments
Analyst reboots Facebook parent stock price target on AI investments originally appeared on TheStreet.
Afraid about losing your job to artificial intelligence? You're not alone.
More than half of the people responding to a Pew Research Center survey said they were worried about the future impact of AI use in the workplace, and 32% think it will lead to fewer job opportunities for them in the long run.
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Only 6% of workers queried in the survey of 5,273 employed U.S. adults said workplace AI use will lead to more job opportunities for them in the long run.
About a third said it will lead to fewer opportunities for them, and 31% say it will not make much difference.
It's not surprising that people are concerned about their careers. A McKinsey report projects that by 2030, 30% of current U.S. jobs could be automated, with 60% significantly altered by AI tools.
Mark Zuckerberg has a different point of view.
"I tend to think that for at least the foreseeable future, this is going to lead towards more demand for people doing work not less now,” the chairman and CEO of Facebook parent Meta Platforms (META) said in recent interview.
"The common belief is that all the jobs are going to go away and actually that has not really been how the history of technology has worked," he added. "You can create things that take away 90% of the work and that leads you to want more people, not less."
Meta has certainly been busying expanding its AI capabilities.
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The social media giant is reportedly in talks to acquire voice AI platform PlayAI, according to Bloomberg, which could help Meta bring more voice features to its AI assistant and its smartglasses.
PlayAI creates AI-powered voice features with the goal of being as “responsive as a conversation between two people,” according to a company blog post.
Meta’s artificial intelligence assistant has one billion monthly active users across the company’s family of apps, Zuckerberg said at the company’s May 28 annual shareholder meeting.
He noted that the “focus for this year is deepening the experience and making Meta AI the leading personal AI with an emphasis on personalization, voice conversations and entertainment,”
In April, the company said it was launching a stand-alone artificial intelligence app and going head-to-head with ChatGPT maker OpenAI.
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