Meta, the parent company of Facebook and Instagram, is planning to use generative AI to create ads for brands by the end of this year.
Andrew Bosworth, Meta’s CTO, believes that allowing brands to use AI tools to create a range of ad variations to target different users could lead to better and more cost-effective results.
Bosworth also revealed that generative AI is currently one of his top priorities, along with CEO Mark Zuckerberg and Chief Product Officer Chris Cox.
Meta has been investing in AI for over a decade, and has a large research organization with hundreds of employees, making Bosworth confident that Meta is at the forefront of AI development.
Along with ads, the company also plans to use generative AI to create virtual worlds in the metaverse, which is fueled by Meta’s Oculus VR headsets.
However, the company’s metaverse vision has yet to yield significant results, as its stock price has decreased since the 2021 rebranding, and it has laid off thousands of employees.
Meta also recently ended a short-lived NFT trial on its platforms. Nevertheless, Meta’s embrace of AI continues to grow, as it experiments with AI-powered chat on WhatsApp and Messenger, as well as AI filters for Instagram.