Meta’s AI Tools Empower Businesses: New Image Generation and Text Copy Features
Meta has recently announced new AI tools that allow businesses to create marketing materials for their advertising campaigns. With Meta’s AI, businesses can now generate new backgrounds for their product images by providing an image of the product to the model. Additionally, the AI offers image expansion, resizing the image to fit a range of sizes for different use cases. In the future, Meta plans to enable businesses to use text prompts to further customize their images.
Meta is also introducing new text generation features powered by its large language model Llama 3. These features will allow businesses to create ad headlines as well as main ad copy. The AI is currently being tested on ways to replicate businesses’ various tones and voices by highlighting key selling points based on past campaigns. The feature will be available worldwide by the end of the year.
The announcement of these new AI tools comes after Meta increased funding for further AI innovation during its latest earnings call in April 24th. The company plans to spend $5 billion more than initially planned on developing new AI products for consumers, developers, businesses, and hardware manufacturers. This investment brings Meta’s spending on AI and its metaverse-development division Reality Labs up to a projected $35 billion to $40 billion by the end of this year. Despite this investment, Meta’s stock experienced a 15% drop following the announcement due to concerns about profitability in technology sector analysts say that it is important for megatech companies such as Microsoft, Google, Meta or Amazon to continue investing billions of dollars in innovation and development in order for them stay ahead in market competition
