Meta unveiled a new venture on Monday called "Meta Enterprise Platform," a fresh push designed to bring the company's artificial intelligence capabilities to businesses and corporate clients. To steer this new effort, the social media company has brought on Chirantan "CJ" Desai, who previously served as CEO of database software powerhouse MongoDB.

This new business venture capitalizes on the success of Muse, Meta's personal AI assistant that debuted earlier this month and is capable of handling tasks like sending emails and booking travel arrangements. According to Meta, the enterprise platform will concentrate on delivering the company's complete technology stack—including Muse, Meta Business Agent, Muse API, Muse Code, and other tools—to business customers and developers.

"Over the coming years, AI will fundamentally redefine how organizations of all sizes innovate, grow, serve customers, and run business operations," Desai remarked in a statement. "Meta has a unique role to play because it is bringing together advanced models and leading agents with a proven track record of helping millions of advertisers and hundreds of millions of businesses scale. Meta Enterprise Platform will focus on turning its AI stack into products and services that companies can deploy for their own businesses."

The initiative could provide Meta with a way to recoup the substantial investments it's making in AI. Meanwhile, MongoDB's stock price tumbled more than 17% following the announcement of its CEO's unexpected exit. The database company announced that Dev Ittycheria, who held the CEO position previously, has been named interim chief executive while the board conducts a search for a permanent successor to Desai.