Market

Snap doubles down on AI

[ad_1]

Snap Inc. deepened its push into AI and AR on Wednesday, the latest tech company to go all-in on the industry’s hottest technology.

Headlining the news at its annual partner summit, Snap
SNAP,
-0.54%

said its artificial intelligence chatbot will now be able to respond to users’ messages with a fully AI-generated image as the company attempts to accelerate development of augmented reality (AR) features.

The company’s chatbot, called My AI, was built using startup OpenAI’s ChatGPT technology. Microsoft Corp.
MSFT,
+0.03%

is a major investor in OpenAI.

According to Snap, My AI is now free to all Snapchat users. The chatbot was first rolled out to users who pay $3.99 a month for the company’s premium subscription Snapchat+, which now has more than 3 million users. The company had announced 2.5 million users in February.

Snap also launched an AR Mirror product for retailers that lets customers immediately — and digitally — try on products in AR within the store.

“Snap continues to impress us with its product innovation prowess,” Evercore ISI analyst Mark Mahaney said in a note late Wednesday. “The key focus for us remains whether Snap can sustainably grow its user engagement and recover some of the signal loss from [Apple Inc.’s
AAPL,
+0.70%

] ATT [App Tracking Transparency] to improve targeting and monetization.”

Snap is scheduled to announce quarterly results on April 27. Its stock, which is up 23% so far this year, was flat during Wednesday’s regular session.

[ad_2]

Source link

Jake

Jacob Keiter is a husband, a writer, a journalist, a musician, and a business owner. His journey to becoming a writer was one that was paved with challenges, but ultimately led him to find his true calling. Jacob's early years were marked by a strong desire for creative expression. He was always drawn to music, and in his youth, he played in several bands, chasing the elusive promise of fame and success. However, despite his best efforts, Jacob struggled to find the recognition he craved. It wasn't until he hit a low point in his life that Jacob discovered his love for writing. He turned to writing as a form of therapy during a particularly difficult time, and found that it not only helped him to cope with his struggles, but also allowed him to express himself in a way that he had never been able to before. Jacob's writing skills quickly caught the attention of others, and he soon found himself working as a journalist for The Sun out of Hummelstown. From there, he went on to contribute to a variety of publications, including the American Bee Journal and Referee Magazine. Jacob's writing style is reflective of traditional journalism, but he also infuses his work with a unique voice that sets him apart from others in his field. Despite his success as a writer, Jacob also owns another business, JJ Auto & Home, which specializes in cleaning. Jacob's commitment to excellence is evident in all of his endeavors, whether it be in his writing or in his business ventures. Today, Jacob is the author of two books and continues to inspire others through his writing. His journey to becoming a writer serves as a reminder that sometimes our darkest moments can lead us to our greatest achievements.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *