Meta’s Head of Global Business Group Nicola Mendelsohn spoke with Yahoo Finance’s Allie Garfinkle at the 2023 Milken Institute Global Conference in Los Angeles. Mendelsohn discussed Meta’s latest earnings, the growth of Facebook’s global users, and how AI will play a role in the social media company’s future. ‘The community now is 3.8 billion people that are coming on every month, and 3 billion people are coming onto one of our platforms every single day. So that’s the highest that we’ve ever seen,’ Mendelsohn told Garfinkle. That engagement drove Facebook and Meta’s (META) Q1 sales to $28.65 billion, up 3% from a year earlier and an increase after three straight periods of declining revenue. Mendelsohn said despite the increased competition Meta is very competitive in the advertising space. ‘What advertisers are telling me, and coming to me and talking about, is the fact that they see us as being absolutely key to helping their businesses grow and helping them reach the consumers that matter,’ she said. On AI, Mendelsohn said Meta is using it daily in a variety of ways including in newsfeeds, for ad targeting, and removing what it deems ‘harmful content.’ ‘We also use it to take off the platform any type of harmful content and misinformation. We’re doing that through machine learning and AI.’
Key video moments:
00:00:25 Facebook’s growing reach
00:01:15 who’s winning ad wars
00:04:30 how Meta is using AI
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