U.S. tech giant Meta Platforms (META) has disclosed that it is working on introducing new tools that will enable parents to supervise how their teenage children interact with its AI chatbot.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
The California-based company, in September 2023, introduced Meta AI, its primary AI chatbot integrated across its family of apps, including Instagram, WhatsApp, Messenger, and Facebook. The chatbot now boasts over 30 different AI characters with distinct personalities and voices, including those of celebrities such as rapper Snoop Dogg and retired football player Tom Brady.
Meta Introduces Updates to Teen Accounts
Some of the features expected from early next year, starting with Instagram, include the ability for parents to turn off their teens’ one-on-one chats with a specific AI character or all AI characters, and insights into what topics their teens are discussing with the chatbot. The features are first to be introduced in English across the US, UK, Canada, and Australia.
The announcement of the plan comes several days after Meta initiated an update — expected with full features by the end of the year — to its Instagram teen accounts program. It introduced new content settings guided by PG-13 ratings to prevent teenagers from being able to search for or follow accounts that post age-inappropriate content.
Meta Is on the Hot Seat
The latest developments come as Meta is facing claims from two ex-employees who have alleged that the company buried research on the safety of children in its virtual reality products. Since last year, Meta has also been in the European Commission’s hot seat over child safety concerns on its apps, including Facebook and Instagram.
Last week, the European watchdog extended the scrutiny to other U.S. tech majors, Apple (AAPL), Alphabet (GOOGL), and Snapchat (SNAP). This is even as Meta, alongside TikTok, is also battling a lawsuit from a group of Italian families over child safety concerns.
Is Meta a Good Stock to Buy Now?
Turning to Wall Street, Meta’s shares currently have a Strong Buy consensus rating, as seen on TipRanks. This is based on 41 Buys and six Holds assigned by analysts over the past three months.
Furthermore, at $877.91, the average META price target points to a 23% upside potential from the current trading level.
