Meta says it is shifting some of its investment from metaverse toward AI glasses and wearables, and "we aren't planning any broader changes than that" (Mike Isaac/New York Times)
NeutralArtificial Intelligence
- Meta has announced a strategic shift in its investment focus, reallocating resources from its metaverse unit to augmented reality glasses and wearables, while affirming that no broader changes are planned. This decision includes a 30% budget cut for the metaverse unit, reflecting a reassessment of financial priorities.
- This development is significant as it indicates Meta's response to ongoing challenges in monetizing its metaverse efforts, which have faced scrutiny and financial pressures. The company aims to enhance its position in the wearables market, particularly with its successful augmented reality glasses.
- The shift in focus highlights a broader trend in the tech industry where companies are reevaluating their investments in ambitious projects like the metaverse amid economic pressures. Analysts have noted that this decision aligns with a growing skepticism regarding the profitability of virtual environments, suggesting a potential pivot towards more immediate revenue-generating technologies.
— via World Pulse Now AI Editorial System
