We are constantly bombarded with apocalyptic visions of an AI future. The robotic soldiers, the workers cast aside by uncaring automatons, the spread of harmful disinformation. As in much of life, it can be too easy to dwell on the negative and ignore the positive.
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A Smart Solution for Poor Vision
And with AI there is plenty of upside. Take a recent article in the Wall Street Journal which featured the wonderfully powerful impact Meta Platforms (META) smart glasses are having on the lives of people with poor vision. The piece featured one woman, Allison Pomeroy, who lost most of her sight two years ago. It meant she struggled to do basic things in life such as reading menus in cafes, books or street signs. She recently bought a pair of Ray-Ban Meta smart glasses with a built-in camera, microphone and AI assistant. The glasses now answer her questions about what she is seeing, translate text, take photos or videos and help her read books to her granddaughter.
Although not specifically designed for people with low vision it is something the National Federation of the Blind in the U.S. want to see Meta, and by extension other tech firms, continue investing in. Meta CEO Mark Zuckerberg recently revealed that the company sold more than one million units of its Ray-Ban Smart Glasses in 2024 and is leading the smart glasses sector ahead of tech rival Amazon (AMZN). Other makers include China’s Xiaomi and Lenovo (LNVGY).
Eyeing Up Huge Growth for Smart Glasses
Although there have been concerns that blind people shouldn’t wear glasses that aren’t specifically intended as health products, the addressable market for U.S. tech firms is huge, with seven million people with impaired vision in the U.S. Globally, the smart glasses market size was estimated to be worth $878.8 million in 2024 and is projected to reach $4.1 billion by 2030.
Meta wants to see more sales from AI wearables. Last week, it hired John Koryl, the former chief executive officer of luxury goods marketplace The RealReal Inc to boost retail demand for Quest headsets, smart glasses and other artificial intelligence wearables. He will report to chief technology officer Andrew Bosworth. “It’s no secret that products like Quest, Ray-Ban Meta, and AI wearables require a different kind of customer experience beyond the standard retail offerings,” Bosworth said, as reported by Reuters. “We see an opportunity to build more direct expertise in the space.” This could mean new devices emerging from Meta’s Reality Labs unit including smart glasses for athletes, watches and camera-equipped earbuds.
Is META a Good Stock to Buy?
On TipRanks, Meta has a Strong Buy consensus based on 44 Buy, 3 Hold and 1 Sell rating. Its highest price target is $935. META stock’s consensus price target is $764.61 implying an 3.79% upside.
