Meta invests further in AI glasses development, wagering on the upcoming technological evolution
Meta Unveils Ray-Ban Meta Glasses: A Leap Towards the Metaverse
Meta, formerly known as Facebook, has taken a significant step towards its vision of a metaverse future by launching the Ray-Ban Meta glasses. The innovative eyewear, priced at $799, allows wearers to view messages, photos, and more as though looking at a smartphone screen.
The launch of the Ray-Ban Meta glasses, which includes the Meta Neural Band, marks Meta's entry into the realm of AI-infused glasses. These glasses are controlled through sensor-packed bracelets called neural bands, with subtle finger movements.
Mark Zuckerberg, Meta's chief executive, has expressed his ambition for these meta glasses. He aims to build great-looking glasses that deliver personal superintelligence and a feeling of presence using realistic holograms. Zuckerberg predicts that these glasses could potentially replace the smartphone, providing access to 'superintelligence'.
The company's foray into virtual reality and the metaverse began about four years ago, and Meta has been investing heavily in this area. Zuckerberg describes the combination of AI-infused smart glasses and the metaverse as 'the next major computing platform'.
However, the road to profitability for Meta's Reality Labs, the unit responsible for the development of these meta glasses, is uncertain. Leo Gebbie, a principal analyst at CCS Insight, suggests that smart glasses sales are unlikely to make Reality Labs profitable in the short term. The goal for Meta, according to Gebbie, is to break free from smartphones and control its own destiny in wearables.
The global smart glasses market, estimated at nearly $2 billion last year, is projected to reach $8.26 billion annually by the end of the decade, according to analytics firm Grand View Research. This growth reflects the growing interest in wearable technology and the metaverse.
It's important to note that smart glasses have been on the horizon for over a decade. Google's Glass headset and camera, released in 2013, were an early attempt at this technology. Meta's entry into the market signifies a renewed interest and potential advancements in the field.
Despite the losses incurred by Meta's virtual and augmented reality unit, Reality Labs, which posted a loss of $4.5 billion in the second quarter of this year on revenue of just $370 million, Zuckerberg remains optimistic about the future of these technologies. He sees them as key to Meta's strategy change towards virtual and augmented reality, a change reflected in the company's name change from Facebook to Meta in late 2021.
The goal, as Zuckerberg sees it, is to build great-looking glasses that deliver personal superintelligence and a feeling of presence using realistic holograms. With the Ray-Ban Meta glasses, Meta is one step closer to achieving this vision.
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