Giant tech company Meta has revealed plans to use generative AI to create ads for different companies by the end of the year.
The company’s CTO Andrew Bosworth disclosed that a generate AI team has been created, and Meta expects to ship tools to create ads with AI that will help companies make different images for different audiences.
In his words, “I expect we will start seeing some of them (commercialization of the tech) this year. We just created a new team, the generative AI team, a couple of months ago, and they are very busy. It is probably the area that I am spending I’m spending the most time in as well as Mark Zuckerberg and Chief Product Officer Chris Cox”.
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While Meta is expanding its focus beyond social media to encompass building the metaverse which is on the company’s long-term plan, it is no doubt seeking to generate more revenue following its plan to use generative AI to create ads.
Recall that during the company’s fourth quarter (Q4) call, the CEO Mark Zuckerberg disclosed to investors and employees that Meta’s management theme for year 2023 is the “year of efficiency”, hence, the company is focused on looking for more avenues to make more money and generative AI seems to be its next bet.
With machine learning, Facebook will deliver relevant AI-powered ads fast and effectively. Analysts disclose that use of AI to run ads improves a company’s return of interest (ROI) due to the fact that it lies in the fact that AI makes advertising data-driven.
Meanwhile, amid concerns that these could pose a threat to the digital space, Artificial intelligence and machine learning are nowhere near threatening digital business. On the contrary, they are making people’s lives a lot easier. Digital advertising is one of the things that AI makes more effective. That is why Facebook and Google have invested so much money and effort into powering their ad platforms with machine learning technology.
It is however interesting to note that Meta isn’t the only company experimenting with generative ads, as Omneky a startup that leverages OpenAI’s DALLE-2 and GPT-3 models to generate visuals and text, is also using AI to generate social media ads. The company wants to make online ads both cheaper and more effective thanks to recent innovations in artificial intelligence.
Meanwhile, while many fields have been automated in one way or another, creating ads is still mostly a manual process which requires human input. The commencement of the use of AI in digital advertising is totally worth it. Now advertisers can run highly relevant ads to grow Return On Advertising Spend (ROAS), and sales without constantly tracking the ad performance and fine-tuning the settings of their campaigns every day.
Meta continues to shift its focus from the metaverse to artificial intelligence. The Facebook parent on Wednesday released a new AI model called “Segment Anything” that can identify and isolate individual objects within an image, such as a fish in an aquarium. The tool could be useful not just in photo editing and content creation, Meta says, but in fields as diverse as augmented reality and Earth studies. Meanwhile, Meta plans to unveil AI-powered tools later this year that will help companies create ads, Chief Technology Officer Andrew Bosworth tells Nikkei Asia. Key executives including CEO Mark Zuckerberg are now spending most of their time working on Meta’s AI efforts, Bosworth says.