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).
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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, 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. In addition, Meta is partnering with companies like Salesforce (CRM), Microsoft (MSFT), and ServiceNow (NOW) to help companies improve customer service by combining Meta’s AI with existing chat tools. Separately, Meta also launched another tool—the Meta AI business assistant—which helps advertisers solve account issues and track how well their ads are doing.
Is Meta a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Strong Buy consensus rating on META stock based on 40 Buys, six Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average META price target of $876.93 per share implies 21.1% upside potential.
