Meta, the social media giant, has introduced new AI tools for advertisers to create marketing materials. Businesses can now use Meta’s AI tools to generate images for advertising campaigns by providing the AI with an image of their products. The model also offers image expansion capabilities, allowing for resizing to fit various sizes for different use cases.
In addition to image generation, Meta plans to offer businesses the ability to use text prompts to customize their images. This feature is expected to be available in the coming months. The company is also rolling out new text generation features, enabling businesses to create ad headlines and primary ad copy. Meta aims to allow the AI to replicate businesses’ tones and voices by emphasizing key selling points based on past campaigns. These features will be powered by Meta’s large language model Llama 3, with plans to make ad text generation available globally by the end of the year.
The introduction of these AI tools for businesses comes after Meta announced increased funding to drive further AI innovation during its most recent earnings call on April 24th. The company is allocating an additional $5 billion to develop new AI products for consumers, developers, businesses, and hardware manufacturers, with spending in AI and Reality Labs expected to reach $35-40 billion by the end of the year.
However, the announcement led to a 15% drop in stock prices, raising questions about the profitability of AI technology. Muddu Sudhakar, CEO of generative AI company Aisera, emphasized the significance of AI as a strategic focus for tech giants. He compared the importance of AI to transitions like on-premises
