VANCOUVER, BC, July 29, 2024 /PRNewswire/ -- USA News Group - In the world of marketing, the genie can't be put back into the bottle with regard to the introduction of artificial intelligence (AI). Now brands and their marketing teams are grappling with the change, and the impact AI has on how they do business, both the good and the bad. According to Markets and Markets the AI in Marketing Market is set to explode towards $40B through 2025, growing at a CAGR of nearly 30%. Working behind the scenes to deliver the tools for these brands to keep up are some of the most advanced developers, including Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF), Microsoft Corporation (NASDAQ: MSFT), eBay Inc. (NASDAQ: EBAY), Amazon.com, Inc. (NASDAQ: AMZN), Alphabet Inc. (NASDAQ: GOOG, GOOGL) and Meta Platforms, Inc. (NASDAQ: META).
Innovators Scope AI Corp. (CSE: SCPE) (OTCQB: SCPCF) recently announced significant advancements in the development of its AI-driven visual recognition technology, the GEM (General Enterprise Machine Learning) system. Further building upon its initial vision, now GEM includes several innovative features aimed at transforming the advertising technology sector.
"Our recent advancements signify a major leap forward in the capabilities of the GEM platform," said James Young, CEO of Scope AI Corp. "These new features, combined with the substantial progress in our development milestones, underscore our commitment to delivering state-of-the-art AI solutions that drive efficiency and performance in advertising technology. We are excited about the potential of the GEM system to revolutionize the way businesses approach ad creation and campaign management."
Among the new capabilities that Scope has introduced are Ad Creation, Ad Comparison, and Ad Recommendations. The frontend design now includes completed and developed Home, Login, and Signup pages, ensuring a seamless user experience from the outset. On the backend, robust APIs have been developed to support the platform's functionality, along with secure user authentication for login and signup processes. Additionally, Scope has enabled profile management, allowing users to create and update their profiles, and integrated password reset and change functionalities to enhance user security.
The enhancements announcement comes shortly after Scope made another major announcement at the beginning of July 2024. Scope entered into a technology agreement to acquire ownership and rights relating to application of quantum resilient entropy, called QSE Technology, which is an advanced security measure designed to protect data against the future threats posed by quantum computing, ensuring that sensitive information remains secure.
Now with GEM, and the onboarding of the QSE Technology, Scope has a two-pronged approach to helping businesses from small all the way up to the enterprise level. With these advancements, Scope AI remains at the forefront of AI technology, solidifying its status as an industry leader. The GEM platform offers advertisers, brands, and agencies robust tools to enhance their return on ad spend, leveraging advanced visual recognition, neural network capabilities, and AI automation.
Earlier in June, Microsoft Corporation (NASDAQ: MSFT) announced the release of new AI-powered recommendations for video ads, with Connected TV ad recommendations coming soon for its Microsoft Advertising arm. With the new tool, advertisers can input their landing page URL, and the AI generates video ad recommendations, which marketers can use to edit and refine the AI-generated assets.
Back in late April, Microsoft also announced the expansion of its partnership with Axel Springer across advertising, AI, content and cloud computing. Axel Springer will adopt Microsoft Advertising as its ad server solution, expanding its existing partnership from Europe to the U.S.
"This new generation of AI is transforming nearly every aspect of work and life, including how people search for and consume content online," said Satya Nadella, chairman and CEO of Microsoft. "Our expanded partnership with Axel Springer brings together their leadership in digital publishing with the full power of the Microsoft Cloud -- including our ad solutions -- to build innovative AI-driven experiences and create new opportunity for advertisers and users."
Online auction e-commerce marketplace giant eBay Inc. (NASDAQ: EBAY) recently debuted new AI-powered ad tools aimed at giving its sellers more ways to advertise both on and off the platform. One of the new features lets sellers use AI to build campaigns around current and emerging marketplace trends, while another tool offers personalized campaign recommendations based on a seller's listings for a particular day. The updates follow eBay's other tests in the past year, which have included using generative AI for better ad personalization.
"Even the ones who are sophisticated are asking for a way to really automate this because [sellers] don't have that much time to spend on it," said Alex Kazim, Head of Advertising for eBay in an interview with Digiday. "The second piece was this constant refrain from every seller event that I went to: 'How do I grow my business?' They just wanted to get more insights, more understanding of ways they could actually grow their business."
Amazon.com, Inc. (NASDAQ: AMZN) is another e-commerce giant is advancing generative AI (Gen AI) in order to help scale applications using its Amazon Web Services (AWS) foundation models, through a partnership with Zea Global in the Zeta marketing platform. Amazon Bedrock is a fully managed generative AI service from AWS that simplifies the development of generative AI applications for businesses, eliminating the need for advanced skills or complex infrastructure.
"Amazon Bedrock, Amazon Personalize, and Amazon SageMaker help businesses like Zeta Global significantly enhance customer experiences by delivering hyper-personalized marketing and advertising messages that feel like one-on-one human relationships so brands can foster long-lasting customer loyalty," said Jon Williams, global head of agency business development at AWS. "By leveraging Amazon Bedrock through Zeta Marketing Platform, the company's customers can create high-quality creative content at scale, personalize contextually relevant advertising experiences, segment audiences for advertising campaigns, and optimize campaigns for better visibility."
Back in May, Meta Platforms, Inc. (NASDAQ: META) revealed a slate of new Gen-AI-powered tools and services aimed at helping businesses increase their ad performance and improve their visibility on its popular social platforms Facebook and Instagram. At an event at Meta's NY headquarters, John Hegeman (Meta's head of monetization) introduced several new AI-powered image and text generation tools specifically developed for businesses that advertise across Meta's platforms, capable of creating full new images, not just new backgrounds. Already, users are boasting of the improvements.
"Meta's investments in AI for advertisers have resulted in consistent performance for our business and allowed Casetify to focus on more creative and strategic work like building a creative diversification strategy," said Wesley Ng, Founder and CEO, Casetify. "We continue to prioritize more of our advertising budget to tools like Advantage+ shopping campaigns and when we recently tested Meta's GenAI Background Generation feature we saw a 13% increase in our return on ad spend. Meta's investments in generative AI are helping businesses to make more ads faster and optimize their performance with the Advantage suite."
Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
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