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Article by Sally Sano
However, it seems Zuckerberg had the last laugh, with Meta springing back with their Q1 revenue of $28.19 billion, exceeding expectations by $440 million. This also brought back investors’ confidence in the company as shares rose by 12% within hours after the release of this report, showcasing the company’s agility to diversify its portfolio and calculate its risks well. The shift from metaverse towards AI seems to have boded well for the company as they were able to reap the benefits in a well-timed fashion, cancelling out the suffering from losses of ad revenue.
How does this relate to the legal world?
Despite Apple’s push towards privacy by insisting that privacy is a “human right”, the world seems to be going in the opposite direction with an increasingly aggressive move towards AI. In 2022, a survey by Deloitte revealed that 97% of the companies surveyed planned to use machine learning in 2023. AI is built on machine learning and other techniques that only get “smarter” as more information is fed to it. And with AI becoming increasingly popular, as shown by companies like OpenAI, Meta (owner of Instagram, Facebook and WhatsApp) and Google, we must rethink the extent to which “privacy is a human right” in a world where companies and consumers have benefited from it on such a large scale.