Llama AI models, which were developed by Meta Platforms, are currently in active use by financial institutions and technology companies.
Among the mentioned machine intelligence models’ user base are Goldman Sachs and AT&T. The said bank and telecom company apply Llama to tasks such as customer service, document review, and computer code generation. The information was published by Meta on Thursday, August 29.
The free Llama artificial intelligence models have been downloaded nearly 350 million times since the launch of these functional systems last year. Meta’s newest configuration of the AI, called Llama 3, debuted last month.
The technology giant also published information according to which the use of its artificial intelligence models via cloud platforms such as Amazon Web Services and Microsoft Azure demonstrated a two-fold increase between May and July of this year.
It is worth noting that Meta made the mentioned data public at a special moment. Recently, investors have become very interested in what results the practice of technology giants has already demonstrated and will demonstrate in the future, involving massive financial investments in artificial intelligence. It is also worth noting that such questions always have reasons. Investors observe that financial investments in the area of artificial intelligence do not generate quick and large-scale economic results. At the same time, this does not mean that from a commercial point of view, investing in AI is a hopeless direction. Artificial intelligence is currently on the trajectory of active development. Also, the full potential of AI has not yet been fully realized. This means that it is too early to draw final conclusions about the financial efficiency of the artificial intelligence industry.
Meta chief executive officer Mark Zuckerberg says that building state-of-the-art machine intelligence models and giving them away for free is an approach that will allow the company to avoid a situation where it is constrained by a competitor’s closed technology. He also stated that the path for Llama to become the industry standard is by being consistently competitive, efficient, and open generation after generation.
As we have reported earlier, Meta Shares Demonstrate Growth Due to AI.
Serhii Mikhailov
Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.
