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Meta Platforms (META) Brings AI in Audio Space With VoiceBox
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Meta Platforms (META - Free Report) recently launched VoiceBox, a new AI model that leverages generative AI to generate and edit speech in various ways. It learns from the context and performs tasks that it was not trained for.
Voicebox can create high-quality audio clips and remove unwanted noises from existing audio. It can also match the style of any audio sample and produce speech in six languages.
Its versatility enables various tasks such as In-context text-to-speech synthesis, speech editing and noise reduction, cross-lingual style transfer and diverse speech sampling.
Voicebox can have many applications such as giving realistic voices to virtual characters, helping visually impaired people to hear messages in familiar voices and providing new tools for audio creation and editing.
Shares of Meta have gained 133.5% year to date compared with the Zacks Computer and Technology sector’s 37.2% increase in the same time frame.
Meta is leveraging on generative AI to enhance products and services and to create new experiences for users and customers. Higher investment in generative AI initiatives will likely drive growth.
In April 2023, Meta launched a new generative AI tool called the segment anything model (SAM). Based on the input prompt, the tool allows segmentation of any image without additional training.
In Feb 2023, Meta announced a new product group that will leverage generative AI for creative tools. Using the technology, Meta is reportedly working on building AI Personas that will enhance user experiences with text, images and video into Messenger and WhatsApp.
Meta Platforms’ generative AI tools, once available, are expected to bolster the advertising market. It is seemingly testing AI-powered ad tools with a small set of advertisers and plans to grant access to more advertisers in July.
Meta Faces Stiff Competition in the Metaverse
Meta is trying to establish itself as a leader in the metaverse market, but it faces stiff competition from companies like Alphabet (GOOGL - Free Report) , Apple (AAPL - Free Report) and NVIDIA (NVDA - Free Report) .
In the ad space, Google continues to have a significant competitive edge, which could be a key source of revenues for the metaverse. It is reportedly engaged in a range of projects featuring its products and services that can enable metaverse applications.
Apple’s long-standing reputation in innovation and design, leverages its expertise in augmented reality and wearable devices to create metaverse experiences. Earlier this month, Apple unveiled its first AR headset, Apple Vision Pro, as a step toward mixed reality.
NVIDIA’s hardware solutions have been instrumental in rendering realistic and immersive metaverse environments. Its software applications allow developers to work together in creating new virtual realities, driving its initiatives toward the metaverse.
However, this Zacks Rank #1 (Strong Buy) company has outperformed two out of its three competitors year to date. Shares of Alphabet, Apple and NVIDIA have gained 40%, 42.3% and 192.1% year to date, respectively. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Meta Platforms' second-quarter 2023 revenues has been pegged at $30.8 billion indicating a year over year growth of 6.87%. Earnings estimates have remained unchanged at $2.82 in the past 30 days.
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Meta Platforms (META) Brings AI in Audio Space With VoiceBox
Meta Platforms (META - Free Report) recently launched VoiceBox, a new AI model that leverages generative AI to generate and edit speech in various ways. It learns from the context and performs tasks that it was not trained for.
Voicebox can create high-quality audio clips and remove unwanted noises from existing audio. It can also match the style of any audio sample and produce speech in six languages.
Its versatility enables various tasks such as In-context text-to-speech synthesis, speech editing and noise reduction, cross-lingual style transfer and diverse speech sampling.
Voicebox can have many applications such as giving realistic voices to virtual characters, helping visually impaired people to hear messages in familiar voices and providing new tools for audio creation and editing.
Meta Platforms, Inc. Price and Consensus
Meta Platforms, Inc. price-consensus-chart | Meta Platforms, Inc. Quote
META Leveraging on Generative AI to Aid Prospects
Shares of Meta have gained 133.5% year to date compared with the Zacks Computer and Technology sector’s 37.2% increase in the same time frame.
Meta is leveraging on generative AI to enhance products and services and to create new experiences for users and customers. Higher investment in generative AI initiatives will likely drive growth.
In April 2023, Meta launched a new generative AI tool called the segment anything model (SAM). Based on the input prompt, the tool allows segmentation of any image without additional training.
In Feb 2023, Meta announced a new product group that will leverage generative AI for creative tools. Using the technology, Meta is reportedly working on building AI Personas that will enhance user experiences with text, images and video into Messenger and WhatsApp.
Meta Platforms’ generative AI tools, once available, are expected to bolster the advertising market. It is seemingly testing AI-powered ad tools with a small set of advertisers and plans to grant access to more advertisers in July.
Meta Faces Stiff Competition in the Metaverse
Meta is trying to establish itself as a leader in the metaverse market, but it faces stiff competition from companies like Alphabet (GOOGL - Free Report) , Apple (AAPL - Free Report) and NVIDIA (NVDA - Free Report) .
In the ad space, Google continues to have a significant competitive edge, which could be a key source of revenues for the metaverse. It is reportedly engaged in a range of projects featuring its products and services that can enable metaverse applications.
Apple’s long-standing reputation in innovation and design, leverages its expertise in augmented reality and wearable devices to create metaverse experiences. Earlier this month, Apple unveiled its first AR headset, Apple Vision Pro, as a step toward mixed reality.
NVIDIA’s hardware solutions have been instrumental in rendering realistic and immersive metaverse environments. Its software applications allow developers to work together in creating new virtual realities, driving its initiatives toward the metaverse.
However, this Zacks Rank #1 (Strong Buy) company has outperformed two out of its three competitors year to date. Shares of Alphabet, Apple and NVIDIA have gained 40%, 42.3% and 192.1% year to date, respectively. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The Zacks Consensus Estimate for Meta Platforms' second-quarter 2023 revenues has been pegged at $30.8 billion indicating a year over year growth of 6.87%. Earnings estimates have remained unchanged at $2.82 in the past 30 days.