Snap CEO Evan Spiegel Increases Investment in AI and Machine Learning for Snapchat
Snap CEO Evan Spiegel has announced that the company behind Snapchat is ramping up its investment in artificial intelligence (AI) and machine learning. In an interview with Bloomberg News, Spiegel acknowledged that Snapchat had fallen behind in machine learning, impacting its business performance. To address this, the company is bringing together top machine learning experts to enhance its capabilities.
Snapchat has evolved from a messaging platform to a hub for augmented reality (AR) features and AI-driven advertising. Spiegel emphasized the significance of AR, stating that it transforms daily computing experiences. The company’s AR tools are widely used by advertisers, creators, and users, with over 300 million people engaging with AR on Snapchat daily.
Rather than developing AI tools in-house, Snap is collaborating with tech giants like Amazon and Google on cloud partnerships. This allows the company to focus on product innovation and new Snapchat experiences. Despite this, Snap plans to invest heavily in infrastructure, spending around $1.5 billion annually.
The shift towards AI and machine learning in social media is not unique to Snap. Influencers are also leveraging AI to enhance audience engagement and campaign effectiveness. AI streamlines influencer discovery, fraud detection, and campaign evaluation, enabling targeted and scalable campaigns.
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