🪙 Meta’s $3.5B bet on smart glasses

Wednesday’s AI Report

• 1. 🪙 Meta’s $3.5B bet on smart glasses
• 2. 📝 Create the content you need with Bounti
• 3. 🌍 How AI cut customer support wait times to just 2.5 seconds
• 4. ⚙️ Trending AI tools
• 5. 🛍️ AI fuels Amazon Prime surge
• 6. 🏦 French Mistral ties with UAE?
• 7. 📑 Recommended resources

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Meta’s $3.5B bet on smart glasses

🚨 Our Report

Meta has bought a 3% stake in its smart glasses partner—the parent company behind Ray-Ban and Oakley, EssilorLuxottica—for around $3.5B.

🔓 Key Points

The companies have collaborated on smart glasses since 2019 (when it launched the first-generation Ray-Ban Meta glasses), and Meta will reportedly increase its share to 5% to cement a long-term partnership.
The latest Oakley Meta HSTN line—which has a 3K camera and IPX4 water resistance—targets functionality over fashion, for the first time, and Meta has assured fans that “there’s more [of that] to come.”
Meta seems to be taking a ‘wearable-first’ approach after ‘Orion’, its fully immersive AR headset, was plagued with the production hurdles of developing full AR, pushing the launch back to 2027.

🔐 Relevance

This move is a strategic decision which reflects Meta’s laser-focus on developing AI hardware— specifically AI-powered eyewear—and goes hand-in-hand with its recent, aggressive “buy or poach” recruitment drive to hire the top talent in AI: Just yesterday, we reported that Meta CEO, Mark Zuckerberg, had managed to lure Apple’s Ruoming Pang (who led the development of the models that power Apple Intelligence) with a hefty compensation package, and comes after he successfully poached 8 key AI researchers, from rival OpenAI, in just one week!

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How AI cut customer support wait times to just 2.5 seconds

DoorDash, a food delivery service, needed to reduce customer wait times, speed-up issue resolution, and minimize reliance on live agents.
They partnered with AWS to develop an AI-powered self-service contact center that utilized Anthropic’s Claude AI models.
The platform could manage and route calls and had voice-operated AI assistants that understood and responded to user queries.
As a result, customer wait times fell to 2.5 seconds, there was a 49% reduction in agent transfers and a 12% increase in first contact resolution.

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Videnly is an AI-powered video creation and publishing tool

According to a report by analytics firm Adobe, Amazon’s Summer Prime Day Week (which kicked off on Tuesday and will end on Friday) will trigger a 3,200% increase in AI-related visits this year.
Adobe reported that 55% of people will likely use AI for research, 47% for product recommendations, 43% for finding deals, 35% for gift ideas, 35% for finding unique products, and 33% for creating shopping lists.
Although AI sources will bring Amazon fewer visitors than traditional sources, like email and paid search, Adobe reported that the use of AI-powered chatbots and browsers by Amazon customers has increased YOY.

FULL STORY

French AI start-up, Mistral (maker of the Le Chat chatbot), is reportedly in talks with several major investors—including Abu Dhabi’s MGX fund—to raise up to $1B in equity funding.
While these discussions are preliminary, and it’s not yet known what its valuation will be if it successfully secures the $1B, Mistral is Europe's biggest AI start-up and last year raised $1.14B, with a valuation of $6.8B.
If it goes through, the deal could also forge a partnership between France and the United Arab Emirates (UAE) within the AI industry, as currently, it’s a country that’s dominated by Chinese and US AI companies.

FULL STORY