Meta, formerly known as Facebook, is rolling out new ways for advertisers to create marketing materials using artificial intelligence (AI) tools. Businesses can now use Meta’s AI to generate images for advertising campaigns by providing an image of their products and allowing the model to create new backgrounds. The model also offers image expansion, resizing the image to fit a range of sizes for different use cases. Additionally, Meta plans to enable businesses to use text prompts to further customize their images, with this feature expected to be available in the coming months.

Furthermore, Meta is introducing new text generation features that allow businesses to create ad headlines as well as the main ad copy. The company is testing ways for the AI to replicate businesses’ various tones and voices by highlighting key selling points based on past campaigns. This feature will be powered by Meta’s large language model Llama 3, with plans to make ad text generation available worldwide by the end of the year.

The unveiling of these new AI tools for businesses comes after Meta announced increased funding to drive further AI innovation during its latest earnings call on April 24. The company aims to spend $5 billion more than initially planned to develop new AI products for consumers, developers, businesses, and hardware manufacturers. Meta’s spending on AI and the metaverse-development division Reality Labs is projected to range from $35 billion to $40 billion by the end of this year. However, despite the investment in AI, the announcement caused a 15% drop in the company’s stock.

The focus on AI at Meta has raised questions about its profitability and sustainability in this rapidly changing technological landscape. Muddu Sudhakar, CEO of generative AI company Aisera compared it with past technology shifts such as transitioning from on-premises IT infrastructure