The global AI market will be worth $909bn by 2030. Credit: kovop/shutterstock

Meta has appointed two new members to its board, effective immediately, including Hock E. Tan who has previously held a president and CEO position at semiconductor manufacturer Broadcom. 

The appointments come as Meta works towards artificial general intelligence (AGI), which is a hypothetical AI technology with the ability to solve problems with 100% accuracy without human intervention. AGI is the point at which technology development has surpassed human intelligence.

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Broadcom has already worked with Meta’s data centres and internal chip design, but Tan’s appointment is widely considered a move to strengthen chip expertise on Meta’s board. 

“Meta has an incredible role to play in the next generation of computing as it evolves its platform and apps offerings for the future,” stated Tan.

“I look forward to working with Mark [Zuckerberg], the broader team and the other Board members on Meta’s technology and business journey,” he added.

Meta’s appointments also include John Arnold, the co-founder and co-chair of Arnold Ventures, a philanthropic organisation dedicated to working on criminal justice, healthcare, infrastructure and public expenditure. 

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Arnold also has a wide experience in the energy industry, having co-founded transmission project developer Grid United and energy hedge fund Centaurus Energy where he also served as CEO. 

“I’m excited to share that Hock Tan and John Arnold are joining Meta’s board of directors,” stated Meta founder and CEO Mark Zuckerberg. “As we focus on building AGI, having directors with deep expertise in silicon and energy infrastructure will help us execute our long-term vision,” said Zuckerberg.

By 2030, research and analysis company GlobalData forecast that AI will be a $909bn market. 

In its 2023 executive briefing on AI, GlobalData predict that AI could reach around 99% accuracy in as soon as 10 to 30 years.