India Emerges as Largest Market for Meta AI Reveals Meta’s CFO Susan Li
India has surpassed all other regions to become the largest market for Meta AI, the artificial intelligence chatbot developed by Meta, the parent company of Facebook. This development was revealed by Meta’s Chief Financial Officer Susan Li during the company’s earnings call on Thursday.
The announcement of India’s leading position coincides with a substantial increase in Meta’s financial performance. The company’s net profit surged approximately 73% to around $13.46 billion for the April to June quarter, while revenue grew by 22% to $39.1 billion. Meta reported that nearly 3.27 billion people use at least one of its apps daily.
Li highlighted that Meta AI has handled billions of queries since its launch, with promising engagement particularly on WhatsApp. “India’s position as our largest market for Meta AI is a significant milestone,” she stated.
The AI chatbot was introduced in India in June 2024, and India now leads as the company’s largest market with over a billion subscribers across its various platforms, including Facebook, WhatsApp, Instagram, and Threads.
Launched in September 2023, Meta AI is currently available in over 20 countries and eight languages. New features, such as Imagine Edit, which allows users to modify generated images, are being rolled out in the US.
Meta Founder Mark Zuckerberg emphasized the company’s goal of making Meta AI the most widely used AI assistant by year-end. He outlined that Meta AI serves diverse functions, from information searches to creative tasks like the “Imagine Yourself” feature, which lets users create personalized images.
Zuckerberg also discussed Meta AI Studio, a platform enabling users to create their own AIs to interact across Meta’s apps. “Creators will find this particularly valuable,” he noted, adding that the tool would allow the creation of AI agents for community engagement, content creation, and more.
In the realm of business, Zuckerberg forecasted that every company might soon have an AI agent akin to having a website or social media presence. He mentioned that while currently in Alpha testing, feedback from businesses has been positive, and AI agents are expected to become integral to customer interaction.
Meta also revised its revenue forecast for the third quarter to between $38.5 billion and $41 billion but anticipates continued operating losses for Reality Labs in 2024 due to ongoing development and investments. Infrastructure costs are expected to rise significantly next year, with full-year capital expenditures projected at $37-40 billion.
The company plans substantial capital investment in 2025 to support AI research and development. Additionally, Meta continues to monitor regulatory developments, particularly in the EU and the US, which could impact its business and financial performance.