Facebook and Instagram users have significantly increased their screen time since a new AI-driven algorithm was introduced, according to the apps’ parent company, Meta.
The US tech giant revealed during its latest quarterly results on Wednesday that improvements to the firm’s artificial intelligence have led to an 8 per cent increase in the amount of time spent on Facebook and a 6 per cent increase in the time spent on Instagram.
The report did not specify how much extra time the average user was spending on the social media platforms, though the most recent estimates from eMarketer suggest that US adults spend roughly 30 minutes each day on both Facebook and Instagram. Over the course of a year, this increased screen time is the equivalent of between 10 to 15 hours.
During an earnings call on Wednesday evening, Meta chief executive Mark Zuckerberg said that he hopes to add a new feed to Facebook and Instagram that will serve exclusively AI-generated content.
“I think we’re going to add a whole new category of content which is AI-generated or AI-summarised content, or existing content pulled together by AI in some way,” he said.
“And I think that that’s gonna be very exciting for Facebook and Instagram and maybe Threads, or other kinds of feed experiences over time.”
The extra time users spent online helped Meta beat analysts’ estimates for its quarterly earnings, exceeding forecasts for both revenue and profit.
The California-based company reported a third-quarter profit of $6.03 per share – beating estimates of $5.25 per share. Third-quarter revenue was $40.59bn, which was nearly half a billion dollars above estimates.
Despite beating analysts’ projections, the world’s biggest social media company saw its share price fall in after-hours trading.
With the vast majority of its revenue coming from online ad sales, Meta is investing heavily in AI in the hope that it can continue to increase user engagement across its apps.
“I don’t know if we know what’s exactly going to work really well yet, but some things are really promising,” Mr Zuckerberg said during the earnings call.
“I have high confidence that over the next several years, this will be one of the important trends and one of the important applications.”
