Meta Platforms Inc. Join Forces In Open AI Advocacy InitiativeMeta Platforms (NASDAQ:META) and International Business Machines (NYSE: IBM) have announced the formation of an AI Alliance, a coalition of over 50 AI companies and research institutions advocating for an open model of AI.
The alliance, which includes notable members such as Intel INTC and the National Science Foundation, aims to pool resources for “open innovation and open science” in AI, The Wall Street Journal reported.
The majority of the members are proponents of open-source tech, which involves freely shared technology and a history of collaboration among Big Tech, academia, and independent coders.
IBM and Meta have been working together since August to form this alliance. Darío Gil, senior vice president at IBM and director of IBM Research, expressed dissatisfaction with the AI discussions over the past year, stating, “We did not feel that it reflected the diversity of the ecosystem that is making this AI moment possible.”
Despite IBM’s AI history being tainted by the faltering of its Watson system, Gil said its new Watsonx system is a completely new platform. Similarly, Meta, despite some setbacks in AI development, is attempting to establish a foothold in the thriving AI market through its open-source AI system, Llama 2 AI model.
The formation of the AI Alliance comes at a time when businesses are seeking more AI product providers to reduce the risk associated with single-vendor dependency. This need for a more distributed approach is something the AI Alliance aims to address.
META Price Momentum
META is trading near the top of its 52-week range and above its 200-day simple moving average.
Investors have been pushing the share price higher, and the stock still appears to have upward momentum. This is a positive sign for the stock's future value.
