In recent years, major tech businesses such as Apple and Meta have been racing to develop and deploy generative AI tools. Such tools are eventually expected to help companies create different ads for different audiences. To this end, Meta recently announced that it will be looking to use of generative AI for creating ads by the end of the year.
Meta, the organization led by Mark Zuckerberg, is driven by the idea that using AI-powered tools will make producing ads more approachable and accessible as it requires less time and effort. CTO Andrew Bosworth is leading the charge and has set up a new team – the generative AI team – to focus on this implementation. In February, Facebook CEO Mark Zuckerberg also mentioned in his investors call the ‘Year of Efficiency’, with a focus on becoming a stronger and more nimble organization. This is likely bound to include other tools like AI-powered chat on WhatsApp and Messenger, as well as filters for Instagram.
Meta has also been keenly experimenting with metaverse creation. By using large language models, like OpenAI’s GPT-4 and Google’s PaLM, it would become easier to create 3D models and content for creation. But, for now, the organization’s priority is revenue generation as Apple’s App Tracking Transparency Move costed Meta $10billion in revenue by 2022.
Other companies have also begun exploring generative AI for creating digital ads. Omnkey presented at TechCrunch Disrupt last year sharing their success with OpenAI’s DALLE-2 and GPT-3 in creating campaigns, and Movio (an IDG, Sequoia Capital China, and Baidu Ventures backed company) using it to generate marketing videos.
Meta is undoubtedly at the forefront of this race as, not only is it looking to use generative AI to create ads, but also metaverce creation. Bringing AI-powered tools and algorithms will not only help them become a stronger and more efficient organisation, but also increase their revenue, a growing need in today’s tech space.
