Zuckerberg: AI increased the time spent on Facebook and Instagram in Q2

In its Q2 2022 earnings report, Meta (formerly Facebook) revealed that artificial intelligence (AI) technology has contributed to increased user engagement on its platforms, Facebook and Instagram. According to Mark Zuckerberg, Meta's CEO, the company's AI-powered recommendations have led to a rise in the time spent by users on these social media platforms. The company estimates that over 3.4 billion people now use at least one of its "family of apps" daily. However, the report also showed a decline in Meta's revenue and user growth, leading to a drop in its stock price. The company attributed this to macroeconomic challenges and increased competition from rivals like TikTok. Despite these concerns, Meta remains focused on developing its AI capabilities to enhance user experience and drive engagement across its platforms. The company's ongoing investments in this technology are seen as crucial to its long-term strategy and competitiveness in the evolving social media landscape.