Meta has announced that it is introducing additional artificial intelligence (AI) features and a new AI-powered product that will aid advertisers in building better ads and improving the impact of their campaigns.
The AI Sandbox
Meta joined the long list of companies with generative AI products after it launched AI Sandbox at an event in New York. This tool is meant to aid advertisers in creating alternative copies, generating background through text prompts, and cropping images for Facebook or Instagram ads.
With this new tool, companies can create various iterations and versions of the same message for different kinds of audiences while attempting to maintain the important points in every version.
The background-generating function will make it simpler to build various marketing elements whereas the image cropping feature will aid businesses in producing images in various aspect ratios for various social media platforms, including social posts, stories, and brief films like reels.
In a blog post, Meta stated that it was testing out the tool adding:
Currently, we’re working with a small group of advertisers in order to quickly gather feedback that we can use to make these products even better. In July, we will begin gradually expanding access to more advertisers with plans to add some of these features into our products later this year.
The company additionally emphasized that it was exercising care in the process of development and distribution of the tool, ensuring that it is developed ethically and adds value for our users seeing as its advertising platform has millions of users.
According to Nicola Mendelsohn, head of the Global Business Group at Meta, the company’s community today is the ‘largest’ it has ever been. She said that Meta currently boasts 3.8 billion people coming onto its platforms every single month and 3 billion people using one of its apps and services every single day.
She added:
That’s almost one in two people on the planet. People are coming to share, to connect to develop, and to game. People today are watching over 19 billion videos on our Meta platforms every single day.
“This gives an incredible opportunity to businesses. Over 10 million advertisers are utilizing our platforms all the time. Over 200 million businesses that are also using our services every single month,” she reiterated.
She also noted that liking, sharing, commenting, and reacting were not only important from a cultural perspective but also from the point of view of advertising.
Meta Promises Enhanced Ad Performance
With the new AI tools, Meta said that it is looking to enable advertisers to convert their manual sales campaigns into Advantage+shopping campaigns with ‘one-click.’
Advantage+shopping campaigns are end-to-end AI-powered ad products that automate and streamline the creation of advertising campaigns in the least number of steps possible. Now this can be done in just one step, said Meta.
Amid the company’s struggle with slowed ad growth and an expensive move to the metaverse., AI Sandbox is Meta’s most recent attempt to convince investors and marketers that significant investments in the booming AI market are paying off.
According to Susan Li, head of finance at Meta, the company’s capital expenditures will be between $30 billion and $33 billion this year. Susan Li said this prediction “reflects our ongoing build-out of AI capacity to support ads, Feed and Reels, along with an increased investment in capacity for our generative AI initiatives.”
The new tools and features, said John Hegeman, vice president of monetization at Meta, would ultimately assist advertisers in time savings and “better performance” with their advertising.
“The aim here, again, is really to quickly test and learn and figure out which parts of these new capabilities are turning out to be most helpful for businesses to achieve their goals,” Hegeman added at the event.
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This article was written for Business 2 Community by Nancy Lubale.
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