Meta hired Salesforce's CEO of AI, Clara Shih, to lead a new organization building AI tools for businesses that use Meta's apps to reach consumers,

Meta, the parent company of Facebook and Instagram, has hired away Salesforce’s head of AI to run a new product group dedicated to developing AI-powered tools for business.

Meta stock analysts are bullish on the company's hire of a former Salesforce executive to lead a new business AI group.

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Jefferies on Wednesday said they see Meta's (NASDAQ:META) hiring of Clara Shih, former CEO of AI at Salesforce (CRM), as a bullish move and the company's formation of a new artificial intelligence unit focused on building business tools is a big step forward in the push towards monetization from AI.

Meta has appointed Clara Shih, former Salesforce Inc artificial intelligence chief, to head its newly formed Business AI division, marking a significant expansion of the social media giant's AI strategy for enterprise customers.

Multinational giant Meta has appointed Clara Shih to lead a new organisation which will build AI tools for various businesses.

Shares of Meta Platforms, Inc. ($META) traded slightly lower Wednesday afternoon, even as retail investor attention remained strong following two consecutive sessions of gains. Jefferies reiterated its ‘Buy’ rating and $675 price target,