Social media giant Meta Platforms (META) has reached 10.9 million downloads for its Muse AI assistant since launching the app on September 8, according to new data from Sensor Tower. More than 10.2 million downloads came from the U.S., thereby making Muse one of only 12 apps to reach 10 million American downloads within 40 days. Meanwhile, U.S. downloads of OpenAI's ChatGPT fell by 25% over the past 30 days compared with the preceding 30-day period.

The last app to reach 10 million U.S. downloads within 40 days was Meta's Threads in July 2023. This isn't very surprising because Meta has the ability to promote new products through its existing platforms, which gives it an advantage when introducing new apps like Muse. In fact, Meta has over three billion users worldwide using its family of apps.

Sensor Tower also estimates that Muse reached 2.5 million daily active users on October 16, which was up 15% from the previous week. This suggests that more people are actively using the assistant rather than simply trying it once.

Muse differs from traditional AI chatbots because it can perform tasks on behalf of users. For example, it can help manage schedules and complete online purchases instead of simply answering questions.

Wall Street Sees Billions in Potential Revenue From Muse

The early adoption numbers help explain why five-star Deutsche Bank (DB) analyst Benjamin Black, who has a 17.3% average return per rating, believes that Muse could become a significant business for Meta. In his most optimistic scenario, Black expects Muse to generate $36 billion in annual revenue by 2030, equivalent to approximately 8% of Meta's projected sales. His more conservative scenario calls for $2.4 billion.