Meta Platforms is set to hold a captivating two-day event at its Menlo Park campus from Wednesday onwards, with a strong focus on artificial intelligence (AI) and the metaverse.
Keynote Address and the Unveiling of Meta Quest 3
The much-anticipated Meta Connect conference kick-starts at 10 a.m. Pacific time with a keynote address. Industry insiders speculate that this address will mark the official launch of the highly-anticipated Meta Quest 3, an artificial reality headset already announced by Meta. Set at an affordable price point of $500, the Meta Quest 3 is generating excitement among tech enthusiasts. Attendees of the event have been granted exclusive access to firsthand demonstrations of the Quest 3.
Updates on Ray-Ban Stories and AI Chatbots
Joining the list of potential announcements is an expected update to Meta's innovative "smart glasses," Ray-Ban Stories. A dedicated four-hour time slot has been allocated in the Connect press schedule for spontaneous showcasing of the new augmented reality specs.
According to The Wall Street Journal, Meta is also preparing to introduce a group of AI chatbots, each with its own unique personality. One of the bots, referred to as "Bob the Robot," has been described in internal Meta documents as possessing superior intellect, sharp wit, and a touch of sarcasm. Additionally, there is another bot named "Alvin the Alien" that aims to engage users in thought-provoking conversations about their lives. The Journal also reported on a third bot called Gavin, which has made controversial statements, including misogynistic remarks and criticisms of Zuckerberg and Meta while lauding platforms like TikTok and Snapchat.
Expectations from BofA Global Research Analyst
In a research note, Justin Post, an analyst from BofA Global Research, highlighted several key areas of interest for the event. Alongside the unveiling of Quest 3, Post predicts updates on Meta's Horizon Worlds virtual reality platform, the possibility of new augmented reality glasses, and the introduction of new AI agents and large language-model development tools.
Stay tuned for exciting developments at Meta Platforms' upcoming event, as it continues to shape the future of technology and the metaverse.
Investors Await Meta's VR Progress and AI Innovation
Investors are eagerly awaiting the upcoming event hosted by Meta, formerly known as Facebook, to gain insights into the company's developments. One major focus of interest will be Meta's investment in the metaverse, with estimated spending of a staggering $18.4 billion in 2023. Analysts are keen to determine if the company's progress in virtual reality (VR) justifies such extraordinary expenditure. Furthermore, investors will be looking for indications on how Meta plans to attract developers to its platform.
Additionally, the event will shed light on the potential impact of artificial intelligence (AI) innovation on Meta's social-media platforms. Analysts speculate that AI could enhance user engagement, content recommendation, ad ranking, targeting, and campaign performance. This information will prove vital for investors assessing the company's growth prospects.
Brad Erickson from RBC Capital expects the event to focus on Meta's AI initiatives and Reality Labs. The latter encompasses both the Quest and VR software divisions. Erickson believes that new details regarding upcoming AI products will demonstrate their potential to amplify user engagement and improve content-related functionalities. Investors are particularly concerned about the financial implications of Meta's investment in Reality Labs, given the increasing losses incurred by this segment.
Analyst Dan Salmon from NewStreet Research emphasizes that investors will be closely monitoring the monetization potential of Meta's AI advancements. It remains to be seen whether these plans can deliver the expected impact on the company's bottom line. In a surprising revelation, Salmon suggests that Meta might unveil avatars with fully-formed legs, addressing a previous shortcoming in earlier versions.
As Meta's event draws near, the anticipation among investors continues to rise. They eagerly await updates and insights into the company's progress in the VR space, AI innovation, and spending plans for the metaverse.
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