Meta is rolling out new ways for businesses to create marketing materials using its artificial intelligence (AI) tools. With the help of AI, businesses can now generate new backgrounds for their images by providing an image of their products. The model also offers image expansion and resizing to fit different sizes for various use cases. In addition, Meta plans to enable text prompts to further customize images, which is expected to be available in the near future.
Meta has also introduced new text generation features that allow businesses to create ad headlines and copy. The company is testing ways for its large language model Llama 3 to replicate businesses’ tones and voices based on past campaigns, highlighting 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 an additional $5 billion on developing new AI products for consumers, developers, businesses, and hardware manufacturers. Meta’s spending on AI and its metaverse-development division Reality Labs is projected to range from $35 billion to $40 billion by the end of this year. However, despite the investment in AI, the announcement caused a 15% drop in the company’s stock.
The focus on AI at Meta has raised questions about the profitability of the technology. 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 computing to cloud computing or from desktops to mobile devices. He emphasized the importance of AI for megatech companies like Microsoft, Google, Meta or Amazon and highlighted how billions of dollars are being invested in AI innovation by these companies.
In conclusion, Meta is introducing new ways for businesses to create marketing materials using artificial intelligence (AI) tools such as generating new backgrounds for images and creating ad headlines and copy with text prompts. Despite increased funding for AI innovation at Meta, there have been concerns about the profitability of this technology due