5G in Africa: What’s its potential, Selasi Ahorlumegah?
Naa Oyoe Quartey
With its fast speeds and revolutionary potential, 5G stands out as a noteworthy milestone in the field of […]
Meta Platforms Inc. ushers in a new era of AI-Powered Advertising
Meta Platforms Inc., the tech giant behind Facebook and Instagram, has recently unveiled an innovative suite of artificial intelligence tools designed to enable marketers to create more efficient and effective advertising campaigns.
Meta Platforms
The company’s latest offering, the “AI Sandbox,” allows advertisers to trial early iterations of features that utilise artificial intelligence. As initially announced in a company blog post, these tools will generate tailored ad text for various audiences, create alternative background images in response to provided words, and automatically adjust ad image sizes to accommodate changes across platforms.
The AI Sandbox represents an exciting new frontier for advertisers, offering a testing ground for these avant-garde tools. For now, Meta is working in conjunction with a select group of advertisers to test the tools’ efficacy and fine-tuning. However, the company has stated it plans to broaden access to these cutting-edge tools from July onwards.
Additionally, Meta has also debuted an AI-based model that promises to aid businesses in predicting ad performance using a more extensive dataset than was previously available. Named “Meta Lattice,” this technology has shown promise in early Instagram tests, enhancing performance for advertisers.
This innovation comes at a pivotal time for Meta, as the company has been grappling with pressures to revitalise growth in its core digital advertising business. Last month, the company broke a three-quarter streak of falling revenue – the first ever sales declines in its history. This rebound in the first quarter could signal the end of a challenging period marked by a volatile economy, diminished marketer spending, and the impact of iOS privacy changes by Apple Inc. that have rendered ads on smartphones less effective.
These developments are part of the broader tech industry’s ongoing efforts to meet an ever-growing demand for AI-based technology from clients, investors, and analysts. Digital advertisers, particularly those focused on performance-based growth, have been clamouring for tools that can streamline the ad creation process and enhance their success rates.
