During the results call, chief executive Mark Zuckerberg outlined how AI was being used to drive results through its automated ad products – Meta Advantage.
“Almost all our advertisers are using at least one of our AI-driven products. We’ve also deployed Meta Lattice, a new model architecture that learns to predict an ad’s performance across a variety of datasets and optimization goals. And we introduced AI Sandbox, a testing playground for generative AI-powered tools like automatic text variation, background generation and image outcropping,” he explained.
Elsewhere
And there is hope that major conglomerates will also increase their marketing spend going into H2. Unilever, which increased its marketing spend by $569 million last year, and plans to increase that again this year.
P&G has yet to outline its spend plans but it has reported a 2% net growth in sales for the year which would suggest a need to up its game on the marketing front for the coming year to beat that by any considerable margin next year.
In February, on an investor call, Coca-Cola CEO James Quincy also indicated that marketing spend would continue to grow this year as it had done in previous years.
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