The artificial intelligence tool uses the fourth iteration of Meta’s Llama model, which Meta has touted as being more cost-efficient than competitors like ChatGPT and Gemini.

Meta Platforms Inc (NASDAQ:META) has announced the launch of a standalone AI app that will compete with the likes of OpenAI's ChatGPT, Google's Gemini and xAI's Grok.

Meta is playing catch-up with the other AI chatbots, but these features could help it stand out in a crowded field.