According to reports, Facebook's parent company, Meta Platforms, is working on a new artificial intelligence (AI) system that aspires to match the capabilities of OpenAI's most sophisticated model.

The new AI model, which the business hopes to have ready by next year, is anticipated to be substantially more potent than its Llama 2 commercial counterpart.

The open-source AI language model Llama 2 was introduced by Meta in July. To compete with OpenAI's ChatGPT and Google's Bard language models, it is made available through Microsoft's cloud Azure services.

However, Meta's forthcoming technology, which could still undergo revisions, seeks to make it possible for other businesses to create services that produce complex text, analysis, and other outputs.

According to reports, training for the new AI system, also known as a massive language model, will start in the early years of 2024.

Businesses and organizations have embraced the generative AI market more and more to improve their skills and streamline their business processes after the release of OpenAI's ChatGPT in late 2020.

To compete with OpenAI's ChatGPT and Google's Bard, Meta launched Llama 2, an open source AI language model, in July. Llama 2 is delivered using Microsoft's cloud Azure services.

The anticipated solution, whose specifics may alter, would assist other businesses in creating services that generate complex text.

Early 2024 is when Meta anticipates beginning the huge language model, a new AI system, to be trained.

Since the release of OpenAI's ChatGPT late last year, businesses and enterprises have flocked to the emerging generative AI industry for expanded capabilities and streamlining business processes.