Meta's AI Magic! Ad Returns Reportedly Soar 32% With Breakthrough Technology Boost

Meta Platforms, Inc. META apps reportedly witnessed a notable 32% boost in return on spending, facilitated by artificial intelligence.

Ads using AI also reduced the cost of acquisition by about 17%, Bloomberg reported, citing statements from an interview with Nicola Mendelsohn, the head of the global business group at Meta Platforms.

The process of creating campaigns has been streamlined by AI tools. Previously requiring 15 to 30 steps, advertisers can now set up a campaign with just one button, according to Nicola Mendelsohn, the report added.

In the past year, Meta introduced new generative AI tools for advertisers, enabling faster creation of images and text while predicting ad performance. 

This initiative aims to enhance overall performance and compensate for the loss of targeting data resulting from privacy changes at Apple Inc. AAPL, Bloomberg added.

Meanwhile, Sheryl Sandberg, the director and ex-COO of Meta Platforms, has announced her exit from the company's board, thus concluding her final official position at the tech giant.

Despite facing severe criticism over privacy oversights and content moderation concerns, Sandberg remained a prominent figure, particularly among policymakers and regulators. However, she slowly retreated from the public eye.

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Price Action: META shares are trading higher by 0.57% to $370.48 premarket on the last check Thursday.

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