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Facebook parent company Meta has announced a new set of artificial intelligence-based tools for its advertisers.
The company, owned by billionaire entrepreneur Mark Zuckerberg, announced the "AI Sandbox" during a Thursday event in New York City.
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From left to right, Mark Zuckerberg, Julia Milner and Yuri Milner attend the Ninth Breakthrough Prize Ceremony at Academy Museum of Motion Pictures in Los Angeles. (Araya Doheny/Getty Images for Breakthrough Prize / Getty Images)
Meta Vice President of Monetization John Hegeman told attendees that the social media company has so far spent "tens of billions of dollars" on artificial intelligence in a bid to create more complex and reliable results. Ticker Security Last Change Change % META META PLATFORMS INC. 235.79 +2.71 +1.16%
"The aim here, again, is really to quickly test and learn and figure out which parts of these new capabilities are turning out to be most helpful for businesses to achieve their goals," said Hegeman.
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Advertisers will be able to use AI Sandbox to generate images from text to use in marketing campaigns.
The AI system is also expected to allow advertisers to automatically curate and edit messages to fit different viewing audiences.
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Additionally, Meta promises AI Sandbox will simplify the process of formatting advertisements for different platforms, automatically cropping or extending an image to fit different spaces.
"Overall, the generative AI space is developing incredibly quickly right now, and it’s a very exciting time," said Hegeman. "Our unique opportunity is to integrate these features over time into our products."
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The OpenAI logo is seen on a mobile phone in front of a computer screen which displays the ChatGPT home screen. (AP Photo/Michael Dwyer, File / AP Newsroom)
OpenAI's release of ChatGPT in November 2022 proved to be a game changer for artificial intelligence, with other tech firms pushing to speed up their own artificial intelligence systems.
ChatGPT is able to simulate human-like conversations with users based on prompts it is given, and it has the fastest growing user base with 100 million monthly active users in January.
