Meta Platforms Is Building Technology With Poached Employees
The AI industry is currently valued at $391 billion and as you all know is expected to grow significantly, with hedge funds such as Morgan Stanley estimating the industry will be worth $1.8 trillion by 2030, growing at a 37% compound annual growth rate.
This growth is specifically fueled by the increasing amount of adoption of AI technologies across various sectors and various aspects of society because of the development of new AI capabilities like generative AI.
The AI industry is rapidly advancing and growing in many different areas as more of society starts integrating AI into its normal routine. For example, AI is starting to be used by a large number of companies, with 78% of surveyed companies reporting using AI in at least one business function in 2024 according to Hostinger.
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A key area for growth in the AI industry is Generative AI like image generating is a key space, with projections of it becoming a $1.3 trillion market by 2032 according to Bloomberg.
A while ago Meta Platforms came up with the idea to build a team of more than a 100 of the best minds in AI and it has already started this plan with Meta Platforms poaching Apple AI employees and Open AI employees.
It is because of this Meta Platforms has become a major player in the AI industry and also the reason why they have many huge projects in progress which could potentially put Meta Platforms ahead in the AI race if even one of the projects succeed.
Some of the projects Meta Platforms has its employees working on include projects to help them develop AI software and sensors to power AI robots.
