"Tech giant Meta Platforms (META) is expanding beyond online advertising by introducing new AI tools that help businesses interact with customers more efficiently. One of its latest projects is a digital assistant called Business AI, which allows companies to offer personalized product suggestions and help shoppers make purchases more easily through chat. This assistant can be used on Facebook, Instagram, and even on websites powered by Shopify (SHOP)."
"The assistant will be free to use in ads, so customers can ask questions and buy products directly through Facebook and Instagram ads. However, companies that want to use the assistant on their own websites will need to pay a fee, which Meta says will be lower than most other options on the market. The tool will also be available soon on WhatsApp and Messenger in countries like Mexico and the Philippines, with more locations to follow."
"The AI assistant is part of a larger trend where big tech companies are building "AI agents" to handle routine customer service tasks. For instance, Amazon (AMZN) launched its own version for third-party sellers in September. Interestingly, Meta's assistant will be free to use in ads, so customers can ask questions and buy products directly through Facebook and Instagram ads. However, companies that want to use the assistant on their own websites will need to pay a fee."
Meta Platforms is expanding beyond online advertising by introducing AI tools that help businesses interact with customers and automate routine service tasks. Business AI is a digital assistant that offers personalized product suggestions and enables shoppers to purchase through chat on Facebook, Instagram and Shopify-powered websites. The assistant will be free to use within ads, while on-site website implementations will incur a fee that Meta says will be lower than most competitors. The tool will roll out soon on WhatsApp and Messenger in markets such as Mexico and the Philippines. Meta is partnering with Salesforce, Microsoft, ServiceNow and Zendesk and also launched a Meta AI business assistant for advertisers.
Read at TipRanks Financial
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