Meta is launching a new way for advertisers to create marketing materials.
Companies can now use Meta’s artificial intelligence (AI) tools to create images for advertising campaigns, Meta said on Tuesday (May 7). blog post. Business owners can feed the AI an image of their products and generate new backgrounds for them. The template also offers image expansion, which resizes the image to fit different sizes for different use cases, according to the post.
Meta also plans to allow businesses to use text prompts to further personalize their images and said the feature will be available in the coming months.
The social media company is also introducing new text generation features, allowing businesses to create ad headlines as well as their main ad text. Meta noted that it is testing ways for AI to replicate the various tones and voices of companies, highlighting key selling points based on past campaigns. This feature will be powered by Meta’s Llama 3 large language model, and the company said it expects to make ad copy generation available worldwide by the end of the year.
The launch of these new AI tools for businesses comes weeks after Meta announced it would increase its funding for further drive AI innovation during its last earnings call on April 24. The company said it plans to spend $5 billion more than initially planned to develop new AI products for consumers, developers, enterprises and hardware manufacturers, PYMNTS reported at the time.
Meta Spending on AI and the Metaverse Development Division Reality Labs will vary between US$35 billion and US$40 billion by the end of this year.
The announcement sent investors into a tizzy, causing the company’s shares to plummet. drop of 15%.
Meta’s focus on AI raises questions about the technology’s profitability.
“For now, there appears to be no end in sight to the arms race,” Muddu SudhakarGenerative AI company CEO Aiseratold PYMNTS in a interview posted on April 26th.
“AI is clearly a top strategic focus. Think of it as transitioning from on-premises to the cloud or from desktop to mobile,” said Sudhakar. “These are massive secular trends that have lasted for many years. So for a megatech company like Microsoft, Google, Meta or Amazon, losing AI would be disastrous. That’s why they’re pouring billions of dollars into investments.”
