Meta Leadership Team Unveils New AI-Powered Advertising Tools

Meta has developed new artificial intelligence (AI)-powered tools to help its advertisers create campaigns and reach targeted audiences, it announced today (May 11).

The social media company has been using artificial intelligence and machine learning since 2006, in its algorithms and in choosing what ads to show users, said John Hegeman, Meta’s vice president of monetization, at a press event today. By expanding its AI capabilities to advertisers, Meta is helping other businesses grow, added Nicola Mendelsohn, Meta’s head of Global Business Group, which helps small businesses grow using Meta’s platforms, which include Facebook, Instagram and WhatsApp.

The billion-dollar company relies on advertising to turn a profit. Last year, 99.3 percent of Meta’s revenue, which totaled $114 billion, came from advertising, according to the company’s earnings report. It must keep advertisers interested by offering new and innovative ways to market while Meta competes with social media companies like TikTok and entertainment companies like Netflix. Earlier this month, Meta presented new advertising options within Reels to media buyers at the Interactive Advertising Bureau’s NewFronts conference. Each month, 10 million companies advertise on Meta’s platforms, and more than 200 million businesses are active on Meta’s apps, said Mendelsohn.

By focusing on AI technology in its ad offerings, Meta can also prove its Reality Labs division is a valuable investment. Reality Labs has received criticism from investors in recent months as the division spends billions on AI and metaverse initiatives, though the metaverse is unproven terrain. AI and metaverse technologies are intertwined, with developments in one aiding the other, CEO Mark Zuckerberg said in an earnings call with investors and analysts last month.

Author: h0mp4g3

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