At the Snap Partner Summit, one thing was clear: the company is preparing to cater to its Generation Z userbase, and ensure they stay on the platform. Following TikTok’s remarkable growth, other social media apps have responded by launching their own short video feeds and creation programs, which includes Snapchat. However, as the U.S. contemplates a full ban on TikTok, it isn’t surprising that this would be a huge benefit for companies like Snap and Meta.
Pressured by Kara Swisher’s query of whether there ought to be a ban on TikTok, Snap CEO Evan Spiegel astutely responded: “We’d love that.” His statement was met with cheers and applause from the room, a testament to his frankness. Nevertheless, Spiegel was adamant that the United States must take into account the effect it could have on other social media companies, observing that TikTok is a US-based enterprise, even if its mother company is of Chinese origin.
Snapchat Spotlight is at a disadvantage compared to TikTok, with 350 million monthly users against TikTok’s 1 billion, and YouTube Shorts’ 1.5 billion logged-in viewers. Despite this, Snap is taking an aggressive step forward in differentiating itself through the use of Augmented and Artificial Intelligence technology. One aspect that AR can immensely improve on is the shopping experience— potential customers will have access to trying on clothes and accessories via their screens. TikTok’s success in e-commerce has dissipated somewhat, so the development of this new technology could be a massive selling point.
On top of that, Snap is also introducing a new AI chatbot called My AI that can be accessed by all Snapchat users. The chatbot was made to adhere to safety policies and guidelines, with a 99.5% success rate. Of course, the remaining 0.5% could potentially lead to issues, similar to what happened with Lensa AI.
When it comes to AI, Spiegel’s advice was that caution was paramount. It is why Snapchat still faces controversies around safety despite its fast pace. AI is undoubtedly a revolutionary advance in the age of technology, but with great power, comes the need for control.
Snap is the leading name in social media and its success has been impressive. Through its programs and new technology, Snap has engaged with its tech-savvy youth base, while trying to be conscious of potential problems that may arise. With Evan Spiegel at the lead, this is sure to continue.
