Meta is introducing new AI tools to help businesses create marketing materials. The company’s artificial intelligence (AI) technology can generate images for advertising campaigns using an image of a product as input. This feature allows businesses to resize the image to fit different use cases and also offers image expansion. Meta plans to enable text prompts for further customization in the near future.
In addition, Meta is also launching new text generation features powered by its large language model Llama 3, which will allow businesses to create ad headlines and copy. The AI is being tested to replicate different tones and voices based on past campaigns and highlight key selling points. This feature will be available worldwide by the end of the year.
The announcement of these new AI tools comes after Meta announced increased funding for AI innovation during its latest earnings call on April 24. The company aims to spend $5 billion more than initially planned on developing new AI products for consumers, developers, businesses, and hardware manufacturers. However, despite the investment in AI, there was a 15% drop in the company’s stock following the announcement.
The focus on AI at Meta has raised questions about its profitability. Muddu Sudhakar, CEO of generative AI company Aisera, compared the current focus on AI to past technology shifts such as the transition from on-premises servers to cloud computing or from desktop computers to mobile devices. He emphasized the importance of AI for mega-tech companies like Microsoft, Google, Meta or Amazon and highlighted the billions of dollars being invested in AI innovation by these companies.