NEW YORK: Meta Platforms, Inc., the parent company of Facebook, Instagram, and WhatsApp, is developing an artificial intelligence-driven search engine to reduce its dependence on Google and Microsoft’s Bing, The Information reported on Monday.
Meta’s new search engine will provide users with conversational, AI-generated answers about current events through its Meta AI chatbot, accessible across WhatsApp, Instagram, and Facebook.
Currently, Meta’s chatbot responses rely on data from Google and Bing to answer questions on topics like news, stocks, and sports. The development of an in-house search engine signifies Meta’s latest move into the expanding AI field, positioning itself alongside industry leaders like OpenAI, Google, and Microsoft in the competition to dominate AI-powered search technology.
The project reflects Meta’s broader strategy to solidify its position in the AI and technology landscape. Founded in 2004 by CEO Mark Zuckerberg and originally named Facebook, the company rebranded to Meta in 2021, emphasizing its expansion beyond social media and into the metaverse.
Meta has invested heavily in AI, metaverse development, and expanding its digital services, including e-commerce and digital payments.
With a market capitalization of approximately $850 billion and over 71,000 employees, Meta remains one of the world’s largest technology companies, posting $118 billion in revenue in 2022.
While pioneering innovations in virtual and augmented reality through its Oculus VR division, Meta has also faced challenges. These include data privacy and regulatory scrutiny, as well as rising competition from emerging social media platforms.
Key executives at Meta, including CFO David Wehner and CEO Mark Zuckerberg, are steering the company through this transformative phase, which has seen the departure of former COO Sheryl Sandberg in 2022.
