Metaplatforms (META, Financial data) hired Clara Shih, former general manager of artificial intelligence at Salesforce (RCMP, Financial data), to lead its new artificial intelligence business tools division, Jefferies said Wednesday.
This action represents a major turning point in Meta’s attempts to leverage its platform ecosystem using artificial intelligence.
Shih’s expertise developing Agentforce at Salesforce, where she oversaw more than 200 million business users across WhatsApp, Instagram and Facebook, is expected to support Meta’s efforts to build intelligence tools and agents generative artificial, Jefferies said.
The company emphasized that Shih is already familiar with Meta’s social environment and platforms. For now, Meta has sold its software, including the Llama AI model, in commercial markets, primarily through companies like Amazon (AMZN, Financial data) and Microsoft (MSFT, Financial data).
The news coincides with Meta’s attempt to expand its artificial intelligence capability outside of alliances with companies like Amazon and Microsoft. Previously, Meta used external software companies to introduce its AI solutions, including its Llama model, to enterprise customers. Jefferies said the new subsidiary represents a major shift in Meta’s approach to interacting directly with business consumers and leveraging open source AI developments.
Jefferies reiterated a “buy” rating for Meta with a price target of $675; META shares change hands for $561.75 in early market trading on Thursday, down slightly.
This article first appeared on GuruFocus.