Meta's AI Innovations Promise Efficiency and Growth In Ads

Meta Platforms Inc META is enhancing its advertising toolkit, introducing advanced generative AI utilities to the broader advertising community. 

This development follows a successful initial testing phase, promising to revolutionize ad creation by automating and optimizing various process elements.

These AI-powered tools can autonomously generate product background images, devise diverse iterations of ad copy, and adapt ad dimensions to be compatible with platforms like Instagram and Facebook. The expanded rollout will likely reach global accessibility by the upcoming year, Bloomberg reports.

Earlier, CEO Mark Zuckerberg shared that Meta's plans for AI included chat experiences in WhatsApp and Messenger, visual creation tools for posts on Facebook and Instagram and ads, and video and multi-modal experiences over time.

Initially, a select group of advertisers had the opportunity to explore these tools in the "AI Sandbox," launched in May. Companies like Publicis Groupe and Media Monks were among the early testers. 

Meta's survey indicated that half of the advertisers anticipated a time saving of five or more hours weekly in ad creation, thanks to these AI innovations.

Integrating AI into Meta's advertising products is a strategic move to offset the impact of lost targeting data, a consequence of privacy enhancements implemented by Apple Inc AAPL. 

In addition to these new tools, Meta introduced Meta Lattice earlier this year, an AI system designed to forecast ad performance, marking a significant stride in AI applications in advertising.

The infusion of AI is not just a technological upgrade but has also contributed to Meta's financial buoyancy. The tech giant reported a 12% surge in digital ad revenue in the quarter concluding on June 30. 

This positive trajectory reflects AI investments, revenue influx from the short-form video product Reels, and enhancements in ad targeting mechanisms.

Price Action: META shares traded higher by 1.14% at $304.37 on the last check Wednesday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.