Meta CEO Mark Zuckerberg has created a product advisory council to provide guidance on the company’s artificial intelligence (AI) and technology efforts.
The new Meta Advisory Group will meet periodically with Meta’s management team, Bloomberg reported Wednesday (May 22).
The group will be composed of four executives: Patrick Collison, CEO and co-founder of Stripe; Nat Friedman, former CEO of GitHub; Tobi Lütke, CEO of Shopify; and Charlie Songhurst, an investor and former executive at Microsoft, according to the report.
The members of the Meta Advisory Group will not be paid and will offer their insights and recommendations on technological advancements, innovation and strategic growth opportunities, the report said.
Unlike Meta’s board of directors, the members of the advisory group are not elected by shareholders and do not have a fiduciary duty to the company, per the report.
The creation of the Meta Advisory Group comes as Meta aims to strengthen its focus on AI-focused products, according to the report. This includes hardware devices like virtual reality headsets and smart glasses, as well as software products such as Meta’s AI assistant, which is available to consumers through various apps.
During Meta’s recent earnings call, Zuckerberg expressed optimism and ambition in the field of AI, stating that the company has the potential to become the leading AI company in the world, per the report.
Zuckerberg also emphasized the need for patience, as many of Meta’s AI efforts may not yield immediate financial returns, the report said. The company faces competition from rivals like Google, Microsoft and startup Anthropic in the race to develop AI models that can drive the next generation of tech products.
While it is unclear how often the Meta Advisory Group will meet, Zuckerberg mentioned that the group will advise Meta’s management team periodically moving forward, per the report.
During Meta’s earnings call held April 24, Zuckerberg brought up AI and the metaverse with the first minute of the call.
The company’s earnings released that day showed that Meta plans to spend $5 billion more than it initially forecasted developing new AI products for consumers, developers, businesses and hardware manufacturers.
Meta’s announcement of its $35 billion investment in AI signaled an aggressive push in the escalating tech arms race, setting new precedents for how tech giants capitalize on advancements in this technology.
