META IS SHIFTING ITS FOCUS TO BUILDING THE METAVERSE AND ADVANCING AI

Meta Platforms is redirecting its focus towards developing artificial intelligence and metaverse technologies, the parent company of Facebook announced. As part of this strategic shift, Meta revealed plans to discontinue Workplace for customers by June 2026, while retaining it as an internal messaging board. Users will retain access to Workplace until August 2025.

"We are discontinuing Workplace (to) focus on building AI and metaverse technologies that we believe will fundamentally reshape the way we work. Over the next two years, we will provide our Workplace customers the option to transition to Zoom's Workvivo product, Meta's only preferred migration partner," stated a spokesperson from Meta.

Initially introduced in 2016, Workplace provided businesses with features such as multi-company groups and shared spaces, facilitating collaboration among employees from different organizations.

Meta's increased focus on AI and metaverse technologies reflects its substantial investments in these areas, with the metaverse being envisioned as the next phase of digital connectivity. However, concerns have been raised about the potential impact of rising costs on the company's growth trajectory.

Billing and payment arrangements for Workplace customers will remain unchanged until August of this year. Currently, Workplace offers a core plan priced at $4 per user per month, with additional add-ons available starting from $2 per user per month. The monthly bill is calculated based on the number of billable users, unless an organization has a fixed plan.